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Maharashtra Budget 2025-26 Focuses on Ongoing Projects Amid Record Deficits

The state government prioritizes existing infrastructure and investment initiatives while grappling with unprecedented fiscal and revenue deficits.

Mumbai: Maharashtra Deputy Chief Minister Ajit Pawar and MoS for Finance Ashish Jaiswal arrive to present the state Budget 2025-26 during the Budget session, in Mumbai, Monday, March 10, 2025. (PTI Photo) (PTI03_10_2025_000234B) (PTI)
Mumbai, India - March 10, 2025:Dy CM and State Finance minister Ajit Pawar and MoS Finance Ashish Jaiswal along with other MLA's and MLC pays respect to Chattrapati Shivaji Maharaj Statue before presenting the State budget during the budget assembly session at Vidhan Bhavan, in Mumbai, India, on Monday, March 10, 2025. (Photo by Anshuman Poyrekar/ Hindustan Times) (Hindustan Times)
Finance minister Ajit Pawar did not announce new projects for his home district Pune in the Maharashtra budget for 2025-26. (HT)

Overview

  • The Maharashtra government’s budget for 2025-26, presented by Finance Minister Ajit Pawar, allocates funds primarily to ongoing projects, with no new major initiatives announced.
  • The state faces a record fiscal deficit of ₹1.36 lakh crore and a revenue deficit of ₹45,892 crore, the highest in its history.
  • Key allocations include metro expansions, elevated roads in Pune, and additional funding for cultural and sports projects like Shivshrushti and Balewadi stadium renovations.
  • A new industrial policy aims to attract ₹40 lakh crore in investments and create 50 lakh jobs over five years, with a focus on sectors like space, defense, and electronics.
  • Opposition leaders criticized the budget for lacking substantial new schemes, while the government emphasized maintaining fiscal discipline and boosting economic growth.