(MENAFN- IANS) Mumbai, Oct 14 (IANS) The Maharashtra Cabinet, chaired by Chief Minister Devendra Fadnavis, on Tuesday approved the Bamboo Industry Policy 2025, which aims to attract investments worth Rs 50,000 crore and generate over five lakh employment opportunities during its implementation period.

According to an official statement, 15 dedicated bamboo clusters will be created in the state, and the government aims to tap into the carbon credit market. The policy proposes to promote bamboo cultivation and the processing industry in the state, as it will pave the way for making available another eco-friendly and sustainable income option for farmers, like cash crops.

CM Fadnavis had recently said that the state government will soon implement the bamboo industry policy by laying focus on creating a sustainable market to promote bamboo cultivation.

He further stated that bamboo cultivation will be useful in meeting the challenges of climate change in the agricultural sector, adding that the state government will implement the Bamboo Mission in Maharashtra on a mission mode.

“Bamboo is an important option to revolutionize the lives of farmers, and it can be a sustainable crop for farmers who are constantly facing the effects of climate change. Bamboo is a crop like sugarcane. Once planted, it does not need to be looked after frequently. Crops like cotton and soybean are affected by climate change, but if bamboo is planted, its impact can be reduced,” he remarked.

The Chief Minister said that there is a need to create an integrated ecosystem to encourage farmers to cultivate bamboo. Along with this, emphasis will also have to be placed on the demand and supply chain of bamboo.

“It takes three years to get the yield of bamboo, which is a long period, so researchers should find such varieties of bamboo that will yield in two years. If Napier grass is planted together with bamboo, it will be beneficial, he stated.

He said that bamboo products will be included in the procurement policy of the state government.

“Emphasis will be placed on bamboo cultivation in the districts where there are energy projects. We will undertake a major campaign of bamboo cultivation on government fallow lands in the state. Along with this, 5,000 trees will be planted in Gadchiroli, keeping in mind the natural habitat there,” said the Chief Minister.

In other key decisions, the Cabinet approved a proposal to renovate and upgrade educational institutions and hostels run by the People's Education Society (PES), founded by Dr Babasaheb Ambedkar. Nine educational institutions and two hostels in Chhatrapati Sambhajinagar and Mumbai will be upgraded with an allocation of Rs 500 crore over five years.

Additionally, the Cabinet sanctioned the creation of 2,228 new posts (Group A to D) for the Mumbai Appellate Branch and the Nagpur and Aurangabad Benches of the Bombay High Court, along with financial provisions for their implementation.

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