Maharashtra cabinet approves bamboo industry policy to generate over 5 lakh jobs

The Maharashtra cabinet on Tuesday approved its bamboo industry policy, which aims to attract an investment of Rs 50,000 crore and generate more than 5 lakh jobs.

Under the Maharashtra Bamboo Industry Policy 2025, as many as 15 dedicated bamboo clusters will be developed across the state, with a focus on leveraging the carbon credit market, an official release stated.

The policy seeks to promote bamboo cultivation and processing industries, offering farmers an eco-friendly and sustainable income alternative comparable to cash crops, it said.

The policy aims to attract an investment of Rs 50,000 crore and generate more than 5 lakh employment opportunities over a period of 10 years, the release said.

The cabinet also approved a development scheme for The People's Education Society, established by Dr Babasaheb Ambedkar.

The plan includes renovation, conservation, and modernisation of the society's educational institutions and hostels.

According to the release, nine educational institutions and two hostels located in Mumbai and Chhatrapati Sambhajinagar will be upgraded.

A budgetary provision of Rs 500 crore has been made for a period of five years, it said.

Apart from this, the cabinet gave its nod for the creation of 2,228 new posts in the Bombay High Court at Mumbai and its benches at Nagpur and Aurangabad.

Necessary budgetary provisions for these posts have been sanctioned, the statement said.