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Government in process of appointing consultant for IFC: CM

The Maharashtra government is in the process of appointing a consultant to help design the International Financial Centre (IFC), state Chief Minister Devendra Fadnavis said.

CM Devendra FadanvisThe remarks by the CM come even as the controversy over providing the land to the Railways for setting up a bullet train terminal at the same location in Bandra Kurla Complex (BKC) is yet to be resolved.

Fadnavis said two task forces have already been formed to devise the final contours of IFC.

“As of now we are at a stage of appointing a consultant who would plan this entire area (BKC),” Fadnavis said on the closing day at the Make in India (MII) Week.

Fadnavis further said the (state) government is also contemplating on whether IFC should be a financial SEZ or just a centre.

Earlier this week, the Railways had said it was in talks with the Maharashtra government on the issue of land allocation for the proposed Rs. 98,000 crore Mumbai-Ahmadabad bullet train terminal at BKC, even as the state had earlier ruled out the possibility.

The land where the Indian Railways had proposed the station is the same place where the Mumbai Metropolitan Region Development Authority (MMRDA) is planning to develop the IFC.

“One is working on the technicalities where in people from financial sector like RBI, SBI chairman are involved. The other task force which is under MoS Finance which is looking in to the legal framework,” he said.

“Both the models are working globally and working well and have their advantages and disadvantages, so we have to take a call on this,” he said adding “in couple of months the government will announce the exact time line IFC.

The Chief Minister further said he has spoken to Railway Board Chairman A K Mittal regarding the issue of the terminal.

“I have brought to his notice about the IFC issue and they have suggested a underground train terminal. We have also given some suggestions and we believe that centre and state can sit across the table and comets a favourable conclusion,” he said.
Mittal had said the state government hadn’t refused the possibility of the terminal on the BKC land parcel.

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