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By:

Anusreeta Dutta

26 April 2026 at 1:22:24 pm

One Maharashtra, Unequal Priorities

Six decades after statehood, constitutional safeguards remain necessary to bridge the gap between western Maharashtra and the regions left behind. Maharashtra is often referred to as India’s economic engine. The state, which is home to Mumbai’s financial ecosystem and Pune’s industrial corridor, contributes about 14 percent to the GDP of India. There is a long-standing dispute behind this achievement that has affected state politics for decades. Is every district in Maharashtra thriving at...

One Maharashtra, Unequal Priorities

Six decades after statehood, constitutional safeguards remain necessary to bridge the gap between western Maharashtra and the regions left behind. Maharashtra is often referred to as India’s economic engine. The state, which is home to Mumbai’s financial ecosystem and Pune’s industrial corridor, contributes about 14 percent to the GDP of India. There is a long-standing dispute behind this achievement that has affected state politics for decades. Is every district in Maharashtra thriving at the same pace? It is not just a political question. It is written into the Constitution proper. Unlike most states in India, Maharashtra has a unique constitutional provision under Article 371(2) which empowers the Governor to ensure that development funding and opportunities are equally shared between Vidarbha, Marathwada and the rest of Maharashtra. The clause was born out of fears that some areas would be forgotten once the state was established in 1960. Six decades later, the existence of this constitutional safeguard raises an uncomfortable question: why does Maharashtra need tools to balance regional development still? Regional Disparity The seeds of regional disparity were sown long before the birth of Maharashtra. Western Maharashtra had early investments in irrigation, cooperative sugar mills, educational institutions and transportation. The centres of industrial growth followed by agricultural commercialisation were Pune, Satara, Sangli, Kolhapur and part of Nashik. Vidarbha and Marathwada chose the other. Agriculture was still heavily dependent on monsoon rains, industrialization was slow and irrigation coverage was less than the state averages. Regional studies in Maharashtra have repeatedly shown that irrigation intensity and agricultural yield are higher in western districts than in much of eastern Maharashtra. These differences subsequently led to calls for institutional safeguards. In contrast, in western Maharashtra, government moves are increasingly geared towards growth, not deficit reduction. The region’s success is built on industrial corridors, logistics infrastructure, urban mobility projects and advanced manufacturing clusters. Pune has emerged as a hub for vehicles, computer technology, defence production and startups. Mumbai remains a major draw for investment in metro rail networks, coastal roadways, financial services infrastructure and international business zones. Agricultural practices in western Maharashtra are in a relatively advanced stage of development. Irrigation coverage is much better than many districts in the east, so the authorities can concentrate on raising productivity, export-oriented, value-added farming and agro-processing industries. Western Maharashtra’s policy, in a nutshell, is to make competitive regions more competitive. Eastern Maharashtra is very different. Here, the Governments have not only focused on accelerating growth but also on reducing the backlog of development. The main policy question is irrigation. For many decades official studies have consistently identified irrigation as the most important factor for regional disparities. Even with dedicated funds, the backlog of irrigation in Vidarbha and Marathwada kept growing, requiring repeated interventions by successive governments. To tackle this, region-specific irrigation corporations, such as Vidarbha Irrigation Development Corporation (VIDC) and Godavari Marathwada Irrigation Development Corporation (GMIDC) were established with a specific mandate to speed up water infrastructure projects. The Union Government has sanctioned a special irrigation package for Vidarbha, Marathwada and draught prone areas of Maharashtra, with an objective to increase irrigation potential and improve water security of the farmers. Even today, a lot of public money is spent on irrigation projects in eastern Maharashtra. Government affidavits and parliamentary replies say crores of rupees are spent every year to make up for irrigation shortfalls and to finish long-pending projects. This emphasis reflects an important reality: while the western part of Maharashtra talks about competitiveness, the eastern part of Maharashtra continues to debate water access. Another area where there are divergent approaches is industrial policy. Market forces have played a major role in the industrial expansion of western Maharashtra, a process assisted by the existing infrastructure and urbanization. In contrast, Eastern Maharashtra has frequently depended on state-led interventions to draw investment to lagging regions. Projects such as the Multi-modal International Cargo Hub and Airport at Nagpur (MIHAN), logistics corridors, special industrial incentives and infrastructure subsidies were to divert industrial expansion away from the Mumbai-Pune region. Likewise, recent government announcements have earmarked Vidarbha to become a future hub for solar energy, semiconductors, aerospace manufacturing and logistics, with Marathwada being pitched for electric vehicle and electronics investments. Whereas in western Maharashtra, the policy tends to buttress pre-existing advantages, in eastern Maharashtra the industrial policy aims to generate such advantages from the beginning. Regional Equilibrium These divisions have persisted, leading to separate institutions of governance. Vidarbha and Marathwada have statutory development boards to monitor regional imbalances and recommend corrective actions. Their emergence is an indication of a broader acceptance that market forces alone have not been adequate to promote balanced growth in Maharashtra. The second capital of Maharashtra is also Nagpur. The same ideology. The state legislature meets every winter in eastern Maharashtra to ensure that the issues concerning the region remain in the political focus. The issues discussed generally are irrigation, agriculture, tribal welfare and regional development in these sessions. The controversy over regional equity, however, is still unresolved. According to critics, despite decades of special packages and focused strategies, many irrigation projects continue to face delays, cost overruns and implementation problems. Several big projects in Vidarbha remain incomplete despite years of cash pledges. There is now a growing body of policy thinking that suggests that Maharashtra may have to give up the very terminology of backlog elimination. In its own discussion on balanced regional development, the state attaches more importance to reforms in governance, diversification of the economy and speeding up growth, than to compensatory spending. The challenge is not just building canals and roadways anymore but building lasting economic ecosystems that can hold on to talent, draw investment and create jobs beyond the traditional Mumbai-Pune boom corridor. The real test for Maharashtra will be whether future policies can turn Vidarbha and Marathwada from regions requiring special support to regions capable of driving growth on their own. Till then Maharashtra’s development story will be two stories. (The author is a columnist and climate researcher with experience in political research analysis and energy policy. Views personal.)

Recent SEBI Action Against Trading Academy

SEBI’s recent action against a popular trading educator has once again reminded the country of a simple but powerful truth: do not misguide people by promoting the stock market as a get rich quick scheme.


What SEBI Is Really Examining

The regulator was not trying to curb financial learning. It was examining something far more serious - whether education had quietly turned into stock tips, fast money promises and unregistered live trading calls.


The Ironic Reality SEBI Discovered

While passing the order, SEBI also found something even more ironic and alarming. The person teaching others how to trade was himself making crores of losses. Client testimonials showcasing lakhs of supposed profits generated by participants, did not match their actual records. In short, the trading coach was losing money in trading, the students were losing money in trading, and the only person consistently making money was the coach himself by selling the dream of a get rich quick scheme through trading courses.


Where The Real Problem Begins

This is exactly where the bigger problem begins. Anyone who tells you that the stock market is a get rich quick scheme or a predictable monthly income generator is a big problem. Unfortunately, this idea has become widespread today. Much of the content circulating on YouTube, Instagram and other platforms is built for sensation and clickbait rather than true financial guidance. Its aim is not to simplify money but to trigger emotions, attract followers, and sell dreams.


Noise Is Drowning Real Education

Real financial education gets drowned in this noise. People start believing that trading profits are instant, guaranteed, and repeatable. They get influenced by selectively picked success stories, dramatic reels, and exaggerated testimonials. They forget that the market does not reward excitement, it rewards patience, discipline, and risk management. These essentials rarely make it to flashy thumbnails.


Power, Responsibility, And Investor Risk

SEBI’s intervention highlights that finance carries power, and with power comes responsibility. When hype-driven teaching influences thousands, it is not just a regulatory challenge. It affects families, long-term goals, and life savings. Wrong direction in the market can permanently derail financial stability, often because someone believed a shortcut was possible.


The Truth That Must Be Repeated

And the truth must be repeated without hesitation. The stock market is not a get rich quick machine or a monthly income machine. It is a long-term wealth creation tool. It requires planning, emotional balance, and a realistic understanding of risk. No webinar or secret pattern can replace this.


Why Investors Must Be Careful

This is why investors must be extremely careful. Always consult a well-qualified and full-time advisor who educates you properly, provides personalised guidance, and handholds you throughout your financial journey. A genuine advisor does not sell fantasies. They offer clarity, direction, and accountability, the qualities that actually create wealth. Investors need to take help from doctors who actually take care and treat patients, not put out courses or video reels to create content.


Remember

Ultimately, the market rewards discipline and wisdom. It has never rewarded shortcuts, and never will.


(The author is a Chartered Accountant and CFA (USA). Financial Advisor.Views personal. He could be reached on 9833133605.)

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