Maharashtra Passes Bill To Raise MIDC Borrowing To ₹6,000 Crore For Purandar Airport
On Tuesday, the Maharashtra Legislative Council passed the Maharashtra Industrial Development (Amendment) Bill, 2026, in Mumbai, raising the borrowing limit of the Maharashtra Industrial Development Corporation (MIDC) from ₹75 crore to ₹6,000 crore. This substantial increase is aimed at securing funds to acquire the remaining land required for the proposed Purandar Airport project site.
Industries Minister Shambhuraj Desai introduced the Bill in the House, explaining that the amendment was necessary to meet the financial demands of the airport project. Under the previous provisions of the Maharashtra Industrial Development Corporation Act, the MIDC's borrowing limit from external sources was capped at ₹75 crore, which Desai stated was insufficient for the land acquisition process.
The newly approved amendment raises this borrowing limit to ₹6,000 crore. Desai clarified that the enhanced borrowing capacity will be utilized exclusively to pay compensation to landowners and farmers at the Purandar Airport project site.
Minister Desai also shared updates on the progress of the land acquisition. He informed the Legislative Council that approximately 85 per cent of the land required for the airport has already been acquired through mutual consent.
The state government is continuing its efforts to acquire the remaining 15 per cent of the land. Desai noted that these acquisitions are being pursued through active dialogue and consensus-based negotiations with local farmers.
Addressing concerns raised during the debate, Desai stated that the Purandar site was selected based on technical recommendations and a feasibility report prepared by the Airports Authority of India. He reiterated the state government's commitment to ensuring a transparent, consent-based process that protects the interests of farmers.
The minister added that the amendment was drafted after a thorough assessment of the MIDC's financial strength, debt-servicing capacity, and the overall viability of the project. After Desai appealed for its passage, the Legislative Council approved the Bill.
