Shiv Sena (UBT) Questions Maharashtra’s Plan for New Financial Hub in Nagpur
Shiv Sena (UBT), led by Uddhav Thackeray, has sparked a big debate over the Maharashtra government’s decision to set up an International Business and Financial Center (IBFC) in New Nagpur. Mumbai stands as India’s financial powerhouse, packed with stock exchanges, banks, and service hubs. So, why pick Nagpur? The party’s mouthpiece, Saamana, calls this move suspicious and hints at a possible political angle to downplay Mumbai’s role.
In a sharp editorial, Saamana points out that Mumbai already hosts an International Financial Services Center (IFSC). But ever since the BJP government under Prime Minister Narendra Modi took charge, they’ve shown a clear favoritism toward Gujarat. Remember GIFT City? It popped up there super fast as a rival to Mumbai’s IFSC. Now, with this IBFC talk for Nagpur, questions flood in: Why create another financial center when Mumbai has everything covered?
Chief Minister Devendra Fadnavis has dismissed these doubts, insisting there’s no hidden agenda. He says the goal is balanced development across Maharashtra. Saamana respects that but urges him to go bigger. Nagpur is Fadnavis’s hometown, so it’s no surprise it’s getting love. But what about the rest? The editorial suggests rolling out similar "New" projects for other cities—like New Pune, New Nashik, New Kolhapur, and New Chhatrapati Sambhajinagar. Only then can the state truly achieve even growth, they argue.
The piece also highlights the mess in India’s urban areas. Cities face chaos with poor planning, exploding slums, and strained basic services like water and roads. Saamana calls on the government to focus on smart development for all major metros, not just one.
Taking a dig at the BJP-led Centre and Maharashtra governments, Shiv Sena (UBT) draws a line: Shifting Mumbai’s financial dreams to Gujarat is one thing, but building in Maharashtra’s second capital, Nagpur, is another. "Go ahead with New Nagpur," they say, "but don’t forget Pune, Nashik, and other key cities."
This criticism hits at a tense time. The Maharashtra government is gearing up for the long-overdue Brihanmumbai Municipal Corporation (BMC) elections, and political battles are heating up. As Mumbai’s civic polls loom, this Nagpur controversy adds fuel to the fire between Shiv Sena (UBT) and the ruling MahaYuti alliance. Will Fadnavis expand his vision statewide? Only time will tell.
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