The Maharashtra Government has announced new schemes, plans, and initiatives in its State Budget for the Financial Year 2025-26. Deputy Chief Minister and Finance Minister Ajit Pawar presented the budget in the state assembly, marking the first budget of the newly-formed Mahayuti government and his 11th term as Finance Minister. The government faces a challenge in boosting revenue and capital expenditure amid political turmoil, with two different governments serving 2.5 years each.
Maharashtra Finance Minister Ajit Pawar started the Budget session, paying tribute to Chhatrapati Shivaji Maharaj and Jijau, and expressing gratitude to Prime Minister Modi for substantial funding for state projects. The key announcements in the budget follow:
Developed India, Developed Maharashtra: A blueprint for sustainable and inclusive development in Maharashtra has been prepared, focusing on industries, infrastructure, agriculture, and social sectors. A seven-point action plan for 100 days aims to improve living conditions, cleanliness, public grievance resolution, office facilities, investment promotion, and regional office visits.
Industry Development: New Industrial Policy for 2025, aims to attract investments worth Rs. 40 lakh crores and create 50 lakh jobs, the policy will follow the central government's new labour code and will develop dedicated logistic infrastructure across over 10,000 acres. The Mumbai Metropolitan Region will be developed as an international economic development centre, with international business centres set up in seven locations. The goal is to increase the Mumbai Metropolitan Region's economy from $140 billion to $300 billion by 2030 and $1.5 trillion by 2047. Gadchiroli district will be transformed into a "Steel Hub" to improve transportation with Rs. 6,400 crore package scheme is proposed. The policy also aims to reduce electricity purchase costs by Rs. 1.13 lakh crores through energy sector planning and low-cost green energy procurement.
Infrastructure development: The State Government has allocated 26% of the budget for the Vadhavan Port in Palghar district. The third airport for Mumbai and the Mumbai-Ahmedabad bullet train station will be established near the port. The work of floating jetty at Kashid in Raigad district will start soon. A policy will be announced to provide financial incentives for modern, well-equipped boats for safe travel. An externally aided project worth Rs. 8,400 crores will be implemented in coastal districts. The Maharashtra Sustainable Eco-Friendly Coastal Conservation and Management project will sanction works worth Rs. 158 crores at Deobagh in Sindhudurg district. The Amritkal State Road Development Plan 2025 to 2047 will be prepared. The Asian Development Bank Project Phase-3 has completed 23 works for roads worth Rs 6,589 crores. The Pradhan Mantri Gram Sadak Yojana, Phase 3, is proposed to complete the construction of 1500 km of road network in 2025-26. Agro-logistic hubs will be developed along Hindusamrat Balasaheb Thackeray Samridhi Mahamarg.
Agriculture and allied sectors: The Nanaji Deshmukh Krishi Sanjivani Project will be implemented in 7,201 villages in 21 districts, with an outlay of Rs. 351.42 crore. The first phase will benefit 50,000 farmers with Rs 500 crore in two years. The Maharashtra Irrigation Improvement Programme will improve canal distribution systems, and 148,888 works will be undertaken under the Jalyukt Shivar Campaign 2.0. Other projects include the Wainganga-Nalganga, Nar-Par-Girna river linking project, Damanganga-Ekdare-Godavari river linking project, Tapi Mega Recharge irrigation project, and a project to divert 54.70 TMC of water from the Ulhas and Vaitarna river in Konkan to the Godavari. The Gosikhurd National Project will create 12,332 hectares of irrigation capacity by December 2024, with completion expected by June 2026.
Social Sector: New housing policy to achieve "Housing for All" in five years. The policy will increase subsidies for house construction and solar power systems under the Pradhan Mantri Suryaghar Veej Yojana Scheme. The Food Security Scheme will use supply chain and block chain technology for more efficient transportation and distribution of subsidized grains. The state will also implement 22 welfare schemes for Dhangar and Gowari communities, provide adequate funding for the Minority Research and Training Institute, and make all schemes available on a single portal. The state will also establish a new high-tech command control center, a cyber-crime security corporation, and 18 new courts.
Tourism and monuments: The Tourism Policy-2024 plans to invest ₹1 lakh crore in the tourism sector over the next 10 years. The plan includes the construction of grand memorials for Chhatrapati Shivaji Maharaj, Dr. Babasaheb Ambedkar, and Bharat Ratna Atal Bihari Vajpayee. The policy also includes funding for the second phase of the Late Balasaheb Thackeray National Memorial, a women's training center, and a memorial for Sahityaratna Lokshahir Annabhau Sathe. The policy also includes a "Namami Godavari" campaign, development of Ramkund, Kalaram Temple, and Goda riverbank, and the establishment of a glass skywalk.
