Fadnavis said the financial plan reflects the broader national vision of building a developed India while addressing key commitments made by the ruling Mahayuti alliance, which includes the Bharatiya Janata Party (BJP), Shiv Sena and the Nationalist Congress Party (NCP)
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Maharashtra Chief Minister Devendra Fadnavis on Friday said the Maharashtra Budget 2026 has been prepared in line with the roadmap for “Viksit Bharat” and aims to accelerate economic growth, infrastructure development and welfare initiatives in the state.
Speaking to reporters after presenting the budget in the state assembly, Fadnavis said the financial plan reflects the broader national vision of building a developed India while addressing key commitments made by the ruling Mahayuti alliance, which includes the Bharatiya Janata Party (BJP), Shiv Sena and the Nationalist Congress Party (NCP).
The chief minister, who also holds the finance portfolio, presented a Rs 7,69,467 crore budget, outlining major welfare schemes, infrastructure investment and fiscal targets for the upcoming financial year.
Budget aligned with Viksit Bharat vision
Fadnavis said the budget has been structured around the long-term goal of strengthening Maharashtra’s position as the economic powerhouse of the country.
“The Maharashtra Budget for 2026–27 is based on the roadmap for Viksit Bharat and focuses on accelerating development across sectors,” the chief minister said while interacting with the media.
He reiterated that Maharashtra remains the financial engine of India and expressed confidence that the state will achieve the goal of becoming a USD 5 trillion economy by 2047.
The government has also proposed Rs 1 lakh crore in capital expenditure, which will be directed towards infrastructure development, economic growth initiatives and public services.
Farm loan waiver fulfils Mahayuti promise
One of the key highlights of the budget is the Punyashlok Ahilyadevi Holkar Shetkari Karjmafi Yojana, a farm loan waiver scheme announced by the chief minister.
Under the scheme, crop loans of up to Rs 2 lakh taken until September 30, 2025 will be waived for eligible farmers.
Fadnavis said the initiative fulfils the promise made by the Mahayuti alliance ahead of the 2024 Maharashtra Assembly elections.
Additionally, farmers who have been regular in repaying their loans will receive an incentive of Rs 50,000, recognising responsible financial behaviour among borrowers.
Ladki Bahin Yojana to continue
The chief minister also confirmed that the Mukhyamantri Majhi Ladki Bahin Yojana, launched in 2024, will continue with adequate financial allocation in the new budget.
Under the scheme, eligible women receive Rs 1,500 per month as financial assistance from the state government. The programme is aimed at supporting women from economically weaker sections and strengthening household incomes.
Fadnavis said the government remains committed to welfare schemes that empower women and provide financial security to vulnerable families.
Focus on rural infrastructure and connectivity
The budget also emphasises improvements in rural infrastructure. The chief minister announced that all villages in Maharashtra with a population of more than 1,000 will be connected by concrete roads.
The move is expected to improve connectivity in rural areas, facilitate economic activity and enhance access to essential services such as healthcare and education.
Fiscal discipline maintained
While presenting the financial estimates, Fadnavis outlined the state’s fiscal outlook for the coming year.
According to the budget, revenue receipts are estimated at Rs 6,16,099 crore, while revenue expenditure is projected at Rs 6,56,651 crore.
The revenue deficit is estimated at Rs 40,552 crore, while the fiscal deficit for 2026–27 is projected at Rs 1,50,491 crore.
Despite these figures, the chief minister said the government has managed to keep the fiscal deficit below 3 per cent of the Gross State Domestic Product (GSDP), maintaining financial discipline.
He also noted that Maharashtra’s revenue deficit has consistently remained below 1 per cent of the GSDP, reflecting stable fiscal management.
Mahayuti leaders hail the budget
Deputy Chief Minister Eknath Shinde said the government will fulfil all promises made by the Mahayuti alliance and ensure balanced development across the state.
Meanwhile, Deputy Chief Minister Sunetra Pawar described the budget as inclusive and balanced, stating that it ensures equitable development across different regions of Maharashtra.
The budget, according to the government, aims to combine economic growth, welfare measures and infrastructure development, while aligning the state’s policies with the national vision of a developed India by 2047.
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