Maharashtra Budget: Key announcements and development plans

The state government presented the Maharashtra Budget for 202526 on Monday focusing on industrial growth infrastructure expansion agriculture and social welfareThe state has maintained its fiscal discipline under the Fiscal Responsibility and Fiscal Management FRFM Act keeping the fiscal deficit below 3 per cent of the gross state domestic income and the revenue deficit under 1 per centRevenue and Expenditure OverviewThe statersquos revenue receipts for 202526 are estimated at Rs 560963 crore while revenue expenditure is projected at Rs 606855 crore resulting in a revenue deficit of Rs 45892 crore The total expenditure for the financial year is Rs 700020 crore with a fiscal deficit of Rs 136234 croreAnnual Plan 202526 Major AllocationsThe government has proposed a significant increase in the annual plan outlay rising from Rs 142582 crore in 202425 to Rs 190242 crore in 202526 marking a 33 per cent growth Key allocations includebull Scheduled Caste Component Program Rs 22568 crore 42 per cent growthbull Tribal Component Program Rs 21495 crore 40 per cent growthbull District Annual Plan Rs 20165 crore 11 per cent growthDepartmentWise Budget Allocationbull Women and Child Development Rs31907 crorebull Energy Rs21534 crorebull Public Works Roads Rs19079 crorebull Water Resources Rs15932 crorebull Rural Development Rs11480 crorebull Urban Development Rs10629 crorebull Agriculture Rs9710 croreIndustrial Development and Investment BoostMaharashtra Finance Minister Ajit Pawar said that the state will soon announce a new Industrial Policy aimed at attracting investments worth Rs 40 lakh crore and creating 50 lakh jobs over five years ldquoThe policy will align with the Centrersquos new labour codes and a dedicated logistics infrastructure will be developed over 10000 acres of landrdquo he addedldquoThe Mumbai Metropolitan Region MMR will be transformed into a global economic hub with business centers planned in BandraKurla Complex Worli Wadala Goregaon Navi Mumbai Kharghar and VirarBoisar The government aims to expand MMRrsquos economy from the current 140 billion to 300 billion by 2030 and 15 trillion by 2047rdquo the Maharashtra Finance Minister saidAdditionally Gadchiroli district is emerging as a ldquoSteel Hubrdquo with Rs500 crore allocated for infrastructure improvements The Package Scheme of Incentives worth Rs 6400 crore will further encourage industrial growthInfrastructure Expansion Roads Metro and AirportsThe Maharashtra government has unveiled an ambitious infrastructure roadmap includingbull Vadhavan Port in Palghar The state holds a 26per cent share with a new MumbaiAhmedabad bullet train station planned nearbybull Samruddhi Mahamarg Agrologistic hubs will benefit farmers from Vidarbha and Marathwadabull Maharashtra Shaktipeeth Highway Rs86300 crore project covering 760 kmbull Swatantryaveer Savarkar VersovaBandra Sea Link 14 km project worth Rs18120 crore scheduled for completion by 2028Metro Projectsbull Mumbai Pune and Nagpur metros 14357 km operational in 202526bull Navi Mumbai International Airport 85 per cent work completed domestic flights to commence in April 2025bull Shirdi Airport Rs 1367 crore allocated for development including night landing facilitiesbull New airport survey underway for GadchiroliAgriculture and Irrigation InitiativesThe state government has prioritised sustainable agriculture with projects such asbull Nanaji Deshmukh Krishi Sanjivani Project Phase II Rs35142 crore investment in 7201 villagesbull Artificial Intelligence in Agriculture Rs500 crore allocation to benefit 50000 farmersbull WaingangaNalganga River Linking Project Rs88574 crore investment benefiting 371 lakh hectaresbull Mukhyamantri Baliraja Mofat Veej Yojana Free electricity for 45 lakh agricultural pumps up to 75 HPSocial Welfare and Women EmpowermentldquoThe Majhi Ladki Bahin Yojana benefiting 253 crore women will receive Rs 36000 crore in 202526 The ldquoLakhpati Didirdquo initiative aims to empower 24 lakh women next year Additionally Rs 8100 crore has been earmarked for urban housing under Pradhan Mantri Awas Yojanardquo Ajit Pawar saidldquoA new housing policy will be announced with subsidies for solar power systems under the Pradhan Mantri Suryaghar Veej Yojana The state will also implement blockchain technology to enhance transparency in food distributionrdquo he addedTourism and Heritage ConservationMaharashtra government has announced a Rs 1 lakh crore investment in the tourism sector over the next decade Key projects includebull Chhatrapati Shivaji Maharaj Memorial in Agrabull Shivsrushti Project in Pune Rs 50 crore allocatedbull Panipat Memorial in Haryana to honor Maratha valorbull Balasaheb Thackeray National Memorial Phase II Rs220 crore allocatedbull Shri Ram Temple Development in Nashik Rs 14610 crorebull 45 ropeway projects under ldquoDurgram to Sugamrdquo initiativeMoving Towards lsquoVikasit MaharashtrarsquoldquoWith a sevenpoint action plan focused on governance ease of living investment promotion and infrastructure the Maharashtra government aims to accelerate growth and ensure holistic development The 202526 budget lays the foundation for a ldquoVikasit Bharat Vikasit Maharashtrardquo aligning with Indiarsquos vision for economic prosperity and social progressrdquo Maharashtra Finance Minister Ajit Pawar said