On Monday, Maharashtra’s Deputy Chief Minister and Finance Minister Ajit Pawar presented a budget of ₹7.20 lakh crore for the fiscal year 2025-26 in the state assembly. Notably, ₹36,000 crore has been earmarked to implement the Mukhyamantri Majhi Ladki Bahin Yojana, a key promise from the ruling party’s election manifesto. Since its launch in July 2024, the scheme has benefited approximately 2.53 crore women, with around ₹33,232 crore already disbursed.

However, the budget did not address the anticipated increase of the monthly allowance from ₹1,500 to ₹2,100, a commitment made by the Mahayuti coalition prior to the 2024 assembly elections. Later, Chief Minister Devendra Fadnavis clarified that the increase would take effect once fiscal conditions improve, but not immediately from April.

While tabling the budget, Pawar expressed gratitude to Prime Minister Narendra Modi for his support towards Maharashtra, asserting that the government owes its position largely to the success of the Ladki Bahin scheme. He announced plans for new labor laws and an updated industrial policy aimed at stimulating economic growth and attracting investment. Key infrastructure development is also planned, with emphasis on logistics covering over 10,000 hectares, and transforming Mumbai into a major commercial hub through new trade centers. The proposed Vadhvan Port in Palghar will see the state contributing 26% of the total project cost.

Furthermore, Ajit Pawar revealed plans for a new airport as part of Vadhvan Port’s development, anticipated to commence operations by 2030. The government aims to create 5 million jobs over the next five years, develop 1,500 km of new roads, and upgrade 7,000 km of existing roads to cement standards. Additionally, significant irrigation projects totaling ₹19,300 crore are planned in the Tapi River Valley, and efforts will be made to redirect water from Konkan to the drought-prone Marathwada region.

Currently, 143.57 km of metro routes serve Mumbai, Nagpur, and Pune, benefiting about 1 million daily commuters. For the upcoming year, 64.4 km of new metro lines will be introduced, with a total of 237.5 km planned for completion in the next five years. The Phase 2 construction of the Nagpur Metro is underway, costing ₹6,708 crore for 43.80 km.

In terms of heritage, Pawar announced the construction of memorials for Maratha warriors in Panipat, Haryana, a memorial for Dr. B.R. Ambedkar at Indu Mill in Mumbai, an Atal Bihari Vajpayee memorial in Mumbai, with ₹220 crore allocated for a Bal Thackeray memorial, and a memorial for Savitribai Phule in Satara district.

The Finance Minister stated that according to the Fiscal Responsibility and Budget Management (FRBM) Act, the government has maintained a fiscal deficit below 3% of the Gross State Domestic Product (GSDP), with a revenue deficit consistently under 1%. For 2025-26, the fiscal deficit is projected at ₹1,36,235 crore.

Pawar highlighted the government’s commitment to agriculture, focusing on increasing farmers’ incomes and promoting the use of Artificial Intelligence to boost productivity. Irrigation projects are on track, and necessary funding has been allocated. Additionally, the government is prioritizing solar energy development for sustainable growth.

CM Devendra Fadnavis acknowledged the rising state debt but reassured that the borrowing limits have proportionately increased. Funds for the Ladki Bahin Scheme have been allocated without breaching debt limits, aiming for a balanced approach amidst financial challenges. He noted that Maharashtra’s GST collection exceeds the national average.

Regarding the Ladki Bahin Scheme, Fadnavis mentioned the establishment of small credit societies to help women beneficiaries manage their finances effectively, maximizing their benefits. While the government currently provides ₹1,500 per month under this scheme, he reiterated their commitment to implementing the ₹2,100 monthly payout eventually.

In contrast, Shiv Sena leader Uddhav Thackeray criticized the BJP-led Mahayuti alliance’s budget, claiming it failed to fulfill key electoral promises, including a farmer loan waiver and increased grants for women under the Ladki Bahin Scheme. He alleged that contractors benefitted disproportionately from the budget and that the government has not provided tangible solutions to pressing issues faced by farmers waiting for loan waivers.