Mumbai, Mar 10 (PTI) At least seven business centres of international standard will be established in Mumbai to boost the city's economy from the present USD 140 billion to USD 1.5 trillion by 2047, Maharashtra Deputy Chief Minister Ajit Pawar announced in the state budget on Monday.

Pawar, who tabled the budget for the fiscal 2025-26 in the state assembly, said the Mumbai Metropolitan Region will be developed as a growth hub and an international-standard economic development centre.

He said business centres will be established at the Bandra-Kurla Complex (BKC), the Kurla-Worli area, Wadala, Goregaon, Navi Mumbai, Kharghar and the Virar-Bhoisar area.

The minister further said that the state government has a 26 per cent share in the Vadhavan port, which is being constructed at the cost of Rs 76,220 crore.

The port will have an annual cargo handling capacity of approximately 300 million metric tonnes, three times the capacity of the Jawaharlal Nehru Port Trust (JNPT), he said.

"The Vadhavan port is expected to commence cargo operations by 2030," Pawar said, adding that the third airport for Mumbai and the Mumbai-Ahmedabad bullet train station will be established near the port.

He said the port will also be connected to the Mumbai-Nagpur Samruddhi Expressway.

The state government will also announce a policy to provide financial incentives for modern and well-equipped boats to ensure safe travel from the Gateway of India to Mandwa and Elephanta.

Pawar said the metro project, connecting the Chhatrapati Shivaji Maharaj International Airport in Mumbai to Navi Mumbai International Airport, is set to commence soon.

He said the newly developed Navi Mumbai International Airport at Ulwe, covering 1,160 hectares, will have the capacity to handle 90 million passengers and 2.6 million tonnes of cargo annually.

About 85 per cent of the work is completed, and test flights have successfully been conducted, the minister said, adding that domestic flight operations are planned to commence in April.

Pawar said 64.4 km of metro lines will be inaugurated, with 41.2 km in Mumbai and 23.2 km in Pune in the next financial year, while 237.5 km of metro lines will be operational in the next five years.

Dr Babasaheb Ambedkar International Airport in Nagpur is being upgraded and modernised through private participation, and this will increase passenger and cargo capacity.

It will boost Vidarbha's economic development, he said.

The government has plans to start passenger services at Amravati airport by this month's end, while the survey and exploration work for a new airport in Gadchiroli is in progress, and funds will be provided for the expansion of Akola airport. PTI MR ARU

Infrastructure development policy to expand business hubs and transport capacity, with incentives for modern coastal passenger boats. The state budget outlines an infrastructure and economic development program for the Mumbai Metropolitan Region to establish international-standard business centres, enhance seaport and airport capacity, and expand mass transit. It confirms the state's equity stake in a major port project and specifies connectivity links and phased operational timelines. The budget includes a policy to provide financial incentives for modern passenger boats on specified coastal routes, and supports metro and airport expansion, including private participation and prioritised operational rollouts.