Mumbai, March 10, 2025:
Maharashtra Deputy Chief Minister and Finance Minister Ajit Pawar presented the state budget for the fiscal year 2025-26 in the Maharashtra State Assembly today. This marks the first budget of the newly-formed Mahayuti government and the 11th budget presented by Pawar.
The budget emphasized large-scale investments, employment generation, and infrastructural expansion to position Maharashtra as an economic powerhouse. Highlighting Chief Minister Devendra Fadnavis’s visit to the World Economic Forum in Davos, Pawar announced that 63 companies had signed Memorandums of Understanding (MoUs), leading to an investment of Rs 15.72 lakh crore and the creation of 16 lakh jobs. Over the next five years, the state aims to generate 50 lakh jobs through an investment of Rs 40 lakh crore.
Key Announcements and Infrastructure Developments
The finance minister announced that Maharashtra’s new Industrial Policy 2025 would soon be unveiled, along with specialized policies for the space, defense, electronics, MSME, and circular economy sectors. Additionally, new labor laws are expected to be introduced.
A major focus has been placed on urban and rural infrastructure, including new business corridors in the Mumbai Metropolitan Region (MMR). The government is also making progress on the Bengaluru-Mumbai Industrial Corridor, with ongoing land acquisition efforts to develop industries in drought-prone regions.
Agriculture and AI Integration
With a focus on boosting farmers’ income, Pawar announced a strong emphasis on Artificial Intelligence (AI) in agriculture. A pilot project covering 1 lakh acres and benefiting 50,000 farmers will be implemented. Additionally, Rs 8,200 crore has been allocated for urban wastewater recycling, which will support agriculture and industry, and Rs 19,300 crore has been earmarked for the Tapi River Valley irrigation project.
Major Budget Allocations and Welfare Schemes
Among other significant budget allocations:
- Mumbai Infrastructure Projects: Rs 64,000 crore has been allocated to improve Mumbai’s transport and urban infrastructure.
- Shirdi Airport Expansion: Night landing facilities will be introduced to boost connectivity.
- Ladki Bahin Scheme: The grant may be increased to Rs 2,100, with total financial support reaching Rs 64,000 crore.
- Lek Ladki Scheme: A budget of Rs 50.55 crore has been proposed to support 1.13 lakh women.
- Vadhvan Port Development: A new deep-sea port in Palghar district, with an investment of Rs 76,220 crore, will be developed, expected to handle 300 million metric tonnes of cargo annually by 2030.
Economic Growth and Industrial Development
Under the ‘One District, One Product’ initiative, Maharashtra plans to develop districts as export hubs, with a dedicated 10,000-acre logistics infrastructure policy that will generate 5 lakh jobs. Seven commercial hubs will be developed in Mumbai, with the city’s economy projected to grow from $140 billion to $300 billion, with a long-term goal of achieving a $1.5 trillion economy by 2047.
Political Reactions and Opposition Criticism
While presenting the budget, Pawar expressed gratitude to Prime Minister Narendra Modi for central government support in funding state projects. However, the opposition criticized the government, with Congress leader Prof. Varsha Eknath Gaikwad stating that Maharashtra is grappling with mounting debt, unemployment, and economic slowdown. Shiv Sena (UBT) leader Sanjay Raut further alleged that the state is facing financial instability and an internal rift between CM Fadnavis and Dy CM Eknath Shinde.
Despite the criticism, Pawar remained optimistic, stating, “Maharashtra will not stop now; development will not be delayed.” The budget lays a foundation for the state’s long-term economic and social growth, with a focus on attracting investments and ensuring financial sustainability.
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