Devendra Fadnavis, 44, a four-term MLA from Nagpur, will be administered the oath of office by Governor C Vidyasagar Rao at Wankhede Stadium in the presence of Prime Minister Narendra Modi, several of his Cabinet colleagues, chief ministers of BJP-ruled states, corporate leaders, Bollywood stars and other celebrities.
The new government will have to address some immediate issues like power deficit and bureaucratic hurdles to revive investment in manufacturing, real estate and construction sectors for growth and job creation in Maharashtra, according to industry experts.
The chamber said that projects worth Rs 4.12 lakh crore are currently under implementation in the power sector alone. However, implementation of the same needs to be speed up.
Along with pending investment in the power sector, such investments in the pipeline belong to construction and real estate (Rs 2.92 lakh crore), services (Rs 5.78 lakh crore) and manufacturing (Rs 1.65 lakh crore).
"With the BJP's remarkable show in the state polls, the state will give a new lease of life to infra projects across all sectors. The projects which are being monitored by the Centre will get accelerated with the state government assumption of political power," JLL's Ramesh Nair said.
He said with the Centre taking a keen interest in the real estate sector, it will provide an impetus for growth across various sectors, generating tremendous employment and thereby boost the entire economic outlook for the country.