Maharashtra's Debt Crisis Deepens with Record ₹9.32 Lakh Crore Burden

State budget reveals rising fiscal deficits, reduced development spending, and mounting financial strain on citizens.

Maharashtra's debt is projected to reach ₹9.32 lakh crore in the 2025-26 fiscal year, up from ₹7.82 lakh crore currently.
The state faces a revenue deficit of ₹45,891 crore and a fiscal deficit of ₹1.36 lakh crore, driven by high expenditure on salaries, pensions, and interest payments.
Opposition leaders criticized the government for fiscal mismanagement, highlighting that every citizen now effectively carries a debt burden of ₹82,000.
Development spending has been cut by ₹16,000 crore, with only ₹93,165 crore allocated for 2025-26, raising concerns about long-term growth.
Key infrastructure projects, like a proposed third Mumbai airport, have been labeled over-ambitious as existing projects remain underutilized.