Rupee depreciation will hit imports: Maharashtra CM Prithviraj Chavan

NAGPUR: Maharashtra Chief Minister Prithviraj Chavan today expressed concern over continuous fall in rupee against the US dollar, saying it may badly affect imports and impact growth.

"The fall of rupee was a matter of concern as it may adversely affect our economy. Our imports will suffer and there are likelihood of job losses," he told a select group of journalists at a breakfast meeting at his camp residence here.

Talking about prestigious Multi Modal International Passenger and Cargo Hub (MIHAN) project at the city airport, Chavan said there was a need for a second runway and the issue required immediate attention.

US aircraft manufacturer Boeing, which is to set up a Maintenance Repair and Overhaul (MRO) facility here, is also insisting on the construction of second runway here.

Another MRO by aircraft manufacturing giant Airbus and a helicopter production unit were likely to come up at Mihan, the Chief Minister said.

On the issue of financial assistance to the tune of Rs 2,000 crore for cotton, soya and paddy growers, Chavan said this was the biggest-ever relief package announced by the State Government for the farmers.

On bringing new investments and industries in Maharashtra Industrial Development Corporation (MIDC) areas, Chavan said a review is being done about allotment of plots to units which have failed to come up even after a considerable period of time.

Some of these industrial units may be having genuine reasons, but overall a review was needed to ascertain usage of allotted plots, he said.