MMRDA earmarks land for IFSC out of compulsion

  • | Friday | 21st July, 2017

Since Prime Minister Narendra Modi is keen on inviting Japanese Prime Minister Shinzo Abe for the bullet train project's foundation laying at Ahmedabad in September, it was imperative for MMRDA to take this decision. Mumbai Metropolitan Regional Development Authority's (MMRDA) decision to earmark 50.31 hectares of land in Bandra Kurla Complex (BKC) for International Financial Services Center (IFSC) is out of political compulsion since the approval would also pave the way for the much discussed bullet train between Mumbai and Ahmedabad. If sources in the Mantralaya and Railway department are to be believed, it would have been counter-productive for BJP to give its nod for the bullet train project before the BMC elections. An official from Mantralay told DNA that the bullet train will benefit many cities in Gujarat, and a few areas in Maharashtra including Palghar and adjoining areas. He added that it would give rise to the question of the project's status on the Mumbai end, and that is the reason the first step of earmarking the land for IFSC has been taken by MMRDA.

Mumbai Metropolitan Regional Development Authority's (MMRDA) decision to earmark 50.31 hectares of land in Bandra Kurla Complex (BKC) for International Financial Services Center (IFSC) is out of political compulsion since the approval would also pave the way for the much discussed bullet train between Mumbai and Ahmedabad. Since Prime Minister Narendra Modi is keen on inviting Japanese Prime Minister Shinzo Abe for the bullet train project's foundation laying at Ahmedabad in September, it was imperative for MMRDA to take this decision. If sources in the Mantralaya and Railway department are to be believed, it would have been counter-productive for BJP to give its nod for the bullet train project before the BMC elections. That is the reason, an official pointed out, that the project, which was soon after introduction in the state cabinet handed over to a committee of four ministers, and till date the committee report is yet to come in the public domain. An official from Mantralay told DNA that the bullet train will benefit many cities in Gujarat, and a few areas in Maharashtra including Palghar and adjoining areas. That is the reason, the official pointed out, the nod for the project would have helped Shiv Sena during the BMC elections, which is why the Chief Minister Devendra Fadnavis post-poned it. A BJP leader said now that the Prime Minister is keen on winning the Gujarat elections, the event of two prime ministers laying the project's foundation stone will be a big one in Ahmedabad. He added that it would give rise to the question of the project's status on the Mumbai end, and that is the reason the first step of earmarking the land for IFSC has been taken by MMRDA. An official said that the subject could come to cabinet once the Minister's committee submits its report. An official from the CM's office told DNA that the entire plan for IFSC, multi-metro station and bullet train is ready and all the objections from the airport authority and other agencies would be allayed in due course of time. Sources say The project’s nod would have helped Shiv Sena during the BMC elections which is why the CM postponed it The project’s foundation stone laying in Ahmedabad will raise questions about its status on the Mumbai end

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