Mumbai, March 6: Maharashtra Chief Minister Devendra Fadnavis presented a budget of ₹7,69,467 crore for the fiscal year 2026-27 in the state assembly on Friday.
The budget includes a loan waiver of up to ₹2 lakh for farmers, along with various measures to promote agriculture, infrastructure, and social welfare.
It estimates a revenue deficit of ₹40,552 crore and a fiscal deficit of ₹1,50,491 crore. The government anticipates revenue receipts of ₹6,16,099 crore against a revenue expenditure of ₹6,56,651 crore for the financial year.
Fadnavis stated that the government has successfully kept the revenue deficit below 1% of the Gross State Domestic Product (GSDP) and the fiscal deficit below 3% of GSDP.
According to revised estimates for 2025-26, revenue receipts are projected at ₹6,01,789 crore, exceeding the budget estimates of ₹5,60,964 crore. This year’s revenue expenditure is estimated at ₹7,55,920 crore, compared to the budget estimate of ₹7,00,020 crore.
In his 1 hour and 24-minute budget speech, the Chief Minister outlined a roadmap for “Developed Maharashtra 2047,” focusing on agriculture, healthcare, sustainable development, and good governance.
He emphasized the state’s goal of achieving a $1 trillion economy by 2030 and a $5 trillion economy by 2047.
A notable feature of the budget is the Punyashlok Ahilyabai Holkar Farmer Loan Waiver Scheme, which will waive up to ₹2 lakh of outstanding crop loans for every farmer by September 3, 2025.
The government also announced an allocation of ₹20,000 crore to provide free electricity to farmers operating water pumps of up to 7.5 HP.
Additionally, a pilot project will be launched in 75 villages using artificial intelligence to provide farmers with real-time information on weather patterns, crop trends, and soil health to enhance productivity.
Regarding infrastructure, the government proposed transforming Maharashtra into a “Seamless Multimodal Hub.” The plan includes constructing a 1,200 km metro rail network and over 6,000 km of expressways by 2047. Dedicated funding and expedited work for the Mumbai-Pune high-speed rail (bullet train) corridor were also proposed.
To alleviate congestion in Mumbai, the Sewri-Worli connector is set to be completed by September 2026, while South Mumbai will be connected to the Prosperity Expressway by 2028. The government is also planning to build underground tunnels to reduce traffic disruptions in Mumbai and Pune.
To strengthen the startup ecosystem, the Chief Minister announced the establishment of a startup and innovation center on 130 acres in Wadala.
A new commissionerate will be created to support micro, small, and medium enterprises (MSMEs) throughout their lifecycle. The Mumbai Metropolitan Region, Pune, and Nagpur will be developed as major “growth hubs” with a total investment of ₹5,000 crore over the next five years.
On social welfare, Fadnavis assured that the flagship “Beti Bachao Beti Padhao” scheme will continue with necessary funding, although verification will be conducted to ensure financial discipline and target genuine beneficiaries.
The government has also allocated ₹33,410 crore under the Pradhan Mantri Awas Yojana-Gramin for rural housing, which will now require rooftop solar installations.
Furthermore, to decentralize the state’s entertainment industry, a new film city will be developed in Ramtek, Vidarbha.
My name is Himanshu Tiwari. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including TECHNOLOGY, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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