State aims for fiscal discipline without cutting development or welfare spending
Chief Minister Devendra Fadnavis with Deputy CMs Ajit Pawar and Eknath Shinde, before presentation of the Budget. Pic/X/@Dev_Fadnavis
The state’s debt burden is on the rise as total debt stock is expected to reach Rs 9.32 lakh crore (Rs 9,32,242 crore) in the fiscal year 2025-26. In the financial year 2024-25, the actual debt stood at Rs 8.39 lakh crore (Rs 8,39,275 crore) as against the projected R7.8 lakh crore.
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Chief Minister Devendra Fadnavis and finance minister Ajit Pawar claimed that the situation is very much under control and within prescribed limits–25 threshold under MFRBM (Maharashtra Fiscal Responsibility and Budget Management) rules.
“Many thought that the budget would go out of control, we have managed to maintain the discipline while maintaining balance between the development work, welfare schemes and revenue receipts,” Fadnavis said.
The CM candidly admitted that there was financial stress but appreciated Deputy Chief Minister Ajit Pawar for making efforts and presenting a decent budget–no hike in taxes, except for those who could afford (luxury segment) and without putting any curbs on welfare schemes or development work.
The fiscal deficit of Maharashtra for financial year 2025-26 stands at Rs 1,36,235 crore as against R1,32873 crore in the previous financial year. Similarly, the revenue receipts for 2025-26 is projected at Rs 5,60,963 crore as against Rs 5,36,463 crore for the fiscal year 2024-25.
Pawar, who presented his 11th budget, addressing the media in the Vidhan Bhavan premises, said, “The budget was prepared with an eye on five years of planning.”
According to statistics presented by the finance department, the revenue expenditure for 2025-26 is expected to be Rs 6,06,855 crore as against Rs 5,62,998 crore in the financial year 2024-25. “In 2025-206, the revenue deficit is expected to be Rs 45,892 crore,” Pawar added. The same for 2024-25 was Rs 26,536 crore.
Asked whether the government is worried about the rise in revenue deficit, both Fadnavis and Pawar claimed that the government is going on the right track and Maharashtra’s position is much better than many other states.
As against the expenditure of R6,72,030 crore for the financial year 2024-25, the government is expected to spend Rs 7,00,020 crore in the fiscal year 2025-26.
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