Maharashtra Budget 2026-27 highlights: Fadnavis presents budget, announces loan waiver for farmers

After the Budget, CM Fadnavis said the government has created a farmer ID in Agristack. “We are building this to verify and cover all the authentic farmers and provide benefit to right beneficiary. We have experienced that banks has given us old accounts which are not operating. Our loan waiver is not for banks but the farmers. We are trying to do things scientifically.”

“So far the committee has shortlisted 28 -30 lakhs farmers, who will be benefited with loan waiver. However, we are still getting details of more farmers and we will have the total number in 25 to 30 days and 20 lakh farmers who have been paying their installments regularly will be given ₹50,000,” he added.

-Snehal Mutha

Reacting to the Budget, Deputy Chief Minister Sunetra Pawar said the budget is visionary and inclusive. 

“It is a visionary document and all inclusive budget. Ajit Pawar was working on the budget till the last day. The budget will strengthen all the sectors including agriculture, tourism, and service,” said DCM Sunetra Pawar. 

She also added that the budget emphasises on empowerment of women be it strengthening single women through Lakpati Didi scheme or Ladki Bahin scheme.

-Snehal Mutha

Deputy Chief Minister Eknath Shinde reacts to the Budget, says it will contribute to the vision of PM Modi’s developed India. 

“It is a visionary budget of developed Maharashtra, which will highly contribute to PM Narendra Modi’s vision for developed India,” said DCM Eknath Shinde, in a statement. 

“Earlier we assured of announcing the loan waiver at the right time and now we have announced the loan waiver in today’s budget, so we have left no chance for the Opposition to say anything. We also kept promised of not shutting down the Ladki Bahin Yojana,” said Mr. Shinde, adding that what we say we do.

-Snehal Mutha

“The budget seems to be focused on short-term gains, with measures like loans and contractor benefits, but its long-term impact on the state’s economy and personal lives is questionable. The lack of clear benefits for farmers and the emphasis on borrowing (Karja kaduna Fatak vajwa) raise concerns about the state’s financial health,” said Shiv Sena (UBT) Chief Uddhav Thackeray. 

“Why trees are axed, they talk about 300 crores tree plantation then first show the land for afforestation. Are you going to get the reservation for land,” says Mr. Thackeray, adding this budget do not address the needs of public in current times.

“Who have asked for these road, bullet trains, what will Mumbaikar do going to Ahmedabad. Why they are only talking about 2047, not about right now. All they focusing on roads, the youth who are educated where are jobs for them. They are talking of about AI, what about that, how, where, when youth are getting jobs in it. Are there any details of it?” Mr. Thackeray

In the Budget speech, Mr. Fadnavis while scrapping vehicles having BS-4 and above emission norms and purchasing new vehicles, a 16% concession in motor vehicle tax and while scrapping old vehicles having BS-3 and below emission norms and purchasing new vehicles, a 30% concession in motor vehicle tax is proposed. He added that “It will help to reduce less furl efficient and polluting old vehicles and improve air quality.”

Mr. Fadnavis said that there will be increase in environmental tax on old non-transport (private) vehicles.

The CM said “Tax under Motor Vehicles Act on crane mounted vehicles to be limited to maximum of ₹30 lakhs.”

Maharashtra government aims to take the economy of Mumbai Metropolitan Region from $140 billion to $300 billion. World-class startup and innovation hub to be established on 130 acres of land in Wadala and work on three stations from Thane to Talasari on the Mumbai-Ahmedabad Bullet Train route to be completed by February 2027 and plans to develop areas around Virar, Boisar and Thane bullet train stations

A third Mumbai (Mumbai 3.0) will be built in the Atal Setu area, under this Karnala-Sai-Chirner, Raigad-Pen and Navi Mumbai International Airport areas will be developed as greenfield development centers. Fourth Mumbai (Mumbai 4.0) to be built in Vadhan, Palghar and a plan will be prepared for the redevelopment of 20 lakh slum houses and the development of 10 lakh affordable houses through the Slum Rehabilitation Authority.

‘No New Slum Framework’ to be developed using GIS technology to prevent new illegal constructions in Mumbai Metropolitan Region: to be implemented in other cities as well. NITI Aayog to prepare road map for ‘Pune, Nashik, Nagpur and Chhatrapati Sambhajinagar Growth Hub’ on the lines of Mumbai Metropolitan Region.

The goal is to increase the number of tourists from 16 crores to 38 crores. Tourism investment chambers to be set up in Mumbai, Singapore and Dubai. “We will create a tourism ecosystem by digitizing travel 100%,” says CM Fadnavis.

Ropeway project at Vasota Fort in Satara, development plan for 5 Jyotirlinga pilgrimage sites in the state lies with a senior officer of the Indian Administrative Service. Pandharpur Temple Development Plan Phase 1 nears completion, next phase in progress. Maharashtra Tourism Development Corporation to upgrade infrastructure at 50 tourist destinations on the occasion of its golden jubilee. 

Chief Minister Fadnavis sets to increase the agricultural economy by 9 times, aiming to increase the GDP of the agricultural sector from $55 billion to $500 billion. All digital tools for the benefit of farmers like Agristack, Mahavedh, CropSap, MahaDBT, Cooperative Stack will be implemented in an integrated manner.

Over 1 crore farmers registered on Agristack, this also includes tribal forest lease holders. Maharashtra to implement ‘Maharashtra Natural Farming Mission’ to produce healthy and nutritious produces and aims to bring 5 lakh hectares of area under natural farming.

Aiming for substantial growth in livestock and fishery production and employment generation, State government to launch Rural Livestock Entrepreneur Scheme introduction programs to empower women farmers in the animal husbandry sector. Chief Minister’s Fisheries Scheme will be implemented with a provision of ₹1240 crore annually for the development of fish traders and creation of infrastructure.

The Chief Minister, holding the Finance Minister, Fadnavis said “There will be a discount of 30% in motor vehicle tax.”

Mr. Fadnavis said “Light motor vehicles viz. LMV - diesel and petrol will be taxed though.”

“On Cyber Security policy, there will be updated data centres,” said Mr. Fadnavis. 

“On smart policing, body cameras to be provided in phases in 3 years,” said the Chief Minister

Maharashtra government in the budget has focused on integration of AI in agriculture, launching Agriculture Data Exchange and AI-enabled Sandbox to secure storage and exchange of data as well promote research and innovation. AI Innovation & Incubation Centre to promote startups in agricultural universities. This technology will help reduce agricultural production costs by 25% and increase productivity.

Also launched a Chatbot- Mahavistar - AI expected to cater 30 lakh farmers guides them in their dialect, provide with accurate weather forecast, information on plant diseases, and keep track of market prices and markets. For the benefit of tribal farmers, other tribal languages, including Dehwali Bhili, will be included.’Vasudha’ is a facility to get advice over phone for farmers who do not have smartphones. 

Government aims to increase the industrial economy by 12 times with aim to increase the GDP of the industrial sector from $123 billion to $1500 billion, making Maharashtra a global manufacturing hub, says CM Fadnavis. 

In his Budget speech, the Chief Minister said “Maharashtra is India’s startup capitals. Unicorns too, we are the first.”

He said “50 best startups will be given the opportunity to work with govt establishments for up to ₹25 Lakh without issuing tenders.”

The Chief Minister said “Bharat innovation research startup BIRSA - will be formed”. - Vinaya Deshpande

In his Budget speech, Maharashtra Chief Minister said that Mukhyamantri Majhi Ladki Bahin Yojana will continue.

“We have made financial allocation for the coming year. A scheme will be brought out for single women, so no increase in instalment, But the scheme will continue.”

Maharashtra government targets 9 times growth in service sector income, with aim to increase the GDP of the services sector from $312 billion to $3000 billion, that will have potential to create more than 30 lakh jobs

During the Budget, CM also announced Maharashtra Global Competence Centre (GCC) Policy that will provide 400 new competency centers and create 4 lakh job opportunities. Pune is the most preferred location in the country for GCC. 

Announcing that the mining highway network will be developed, CM Fadnavis declared to make Gadchiroli the New Steel Hub investing ₹ 2,62,000 crore and expected to create over 70,000 jobs through large/super large steel industries. 5 crore trees will also be planted. 

Another police announced is Bamboo Industry policy under which development project worth ₹4271 crore will be implemented with the assistance of Asian Development Bank and attract investments over ₹50,000 crore with aim to create 5 lakh jobs. 

Under Industry, Investment and Services Policy, the State government to develop a digital platform- ‘Invest Maharashtra’ for the development of the industrial sector. The policy also aims to increase the share of the industrial sector in the state economy to 30% by 2047. 

Micro, Small and Medium Enterprises Commissionerate and Services Commissionerate will be established with aim to create 50 lakh direct jobs in manufacturing and services sectors.

State’s new Maharashtra Gems and Jewellery Policy - 2025 announced with object to receive investment of ₹1 lakh crore and create 5 lakh job opportunities. -- Snehal Mutha

In a big announcement in the Budget, Chief Minister Devendra Fadnavis announced loan waiver for farmers. He said “Till September 3, 2025, loan of up to ₹2 Lakh will be waived off under Punyashlok Ahilyabai Holkar farmers’ loan waiver Scheme.”

He also added “Up to ₹50,000 incentive for farmers who have paid regular instalments.”

“This is an incentive to reward those who pay their loans on time.”

In his Budget speech, the Maharashtra Chief Minister said “Marine Shipyard will be built and there will be focus on clean energy.”

Mr. Fadnavis allocates ₹20,000 crore for solar power for farmers. He said “Maharashtra is the first State in the country to have solar power pumps” and added “That’s a Guinness World record.”

The Chief Minister said “Rooftop solars will be installed and subsidies will be given. SMART scheme for 5 lakh users will get state concession.”

In his Budget speech, Mr. Fadnavis said “All villages with 1000+ population will be connected by concrete road.”

He said “Nagpur-Gondia-Bhandara-Gadchiroli expressway to be built.”

In his Budget speech, Mr. Fadnavis said “By September 2026, there will be a signal free traffic from Sewri to coastal road.”

He added that Bandra Versova coastal roads to be completed by May 2028. The CM said “Mumbai Vadhwan-uttan to Virar coastal bridge to be constructed.”

The Chief Minister said “Atal Setu to be connected to Navi Mumbai airport by May 2026 via Ulwe. There will be a lot of focus on infrastructure work.”

In his Budget speech, the Chief Minister “No illegal constructions will be allowed in MMR,” and added “No new slum framework will be implemented here.”

He further said “Pune, Nashik, Nagpur development plans to be made. Over 1000 kms of metro tracks and 6000 kms of two-lane highways will be constructed.”

He added “Wadala to Gateway metro path will be brought up and two airports of Mumbai will be connected through underground metro.”

To overcome traffic issues, he said there will be a network of underground roads to be constructed in Mumbai and Pune.

In his Budget speech, Mr. Fadnavis said that rooftop solar will be installed on the houses built under PM Awas Yojana. He said “3.57 lakh houses will be completed under the scheme.”

Mr. Fadnavis said “Maharashtra leads in FDI. 50 Lakh direct and indirect employment will be created due to small and medium enterprises.”

On bamboo policy, Mr. Fadnavis said “₹50,000 Crore investment and 5000 employment opportunities will be generated.”

In his Budget speech, Mr. Fadnavis touched upon the agricultural sector. He said “Agri-farmers’ produce should get international markets. Integrated supply chain will be created for 14-15 crops.”

He added that there will be use of AI for agriculture viz Mahavistar AI. Mr. Fadnavis added that tribal languages will be integrated in it. The CM said “Agricultural data exchange and agricultural Universities will boost agriculture start ups.”

Mr. Fadnavis said “Agristack scheme to be implemented for farmers. Over 1 Crore agriculture cards prepared for farmers. We will include tribals too in them. Maharashtra organic farming scheme will be implemented” and added that “Farm labourers to be included in Gopinath Munde scheme.”

For the fisheries sector, Mr. Fadnavis “Maharasthra would start CM Gram Sadak Yojana and all work to be completed by March 2026 in the first phase.”

The Chief Minister said “Maharashtra is the country’s financial engine. Our share will be the biggest. Maharashtra aims to achieve the target of $5 trillion by 2047.”

He added a couplet “Jab irada bana liya hai unchi udaan ka, fir dekhna fizul hai sar asmaan ka”. -- Vinaya Deshpande

In the Budget session of the Maharasthra Assembly, Chief Minsiter Devendra Fadnavis, who is also holding the Finance portfolio, starts his Budget speech with “This is not just the budget, but it is an important document for our journey in 2027”

Mr. Fadnavis invoked Mahatma Jyotiba Phule, and said this is his 200th birth anniversary. “The State will commemorate it with various programmes.” 

He also said Sant Gadgebaba Tirthakshetra (pilgrimage) circuit will be developed. -- Vinaya Deshpande

In the area of women’s welfare, the State has established mechanisms such as fast-track courts, ‘Bharosa’ cells as well as more than 1.19 lakh complaint redressal committees in government and private institutions to address issues related to crimes against women and workplace harassment.

According to the survey, 50,350 crimes against women were reported in the State in 2025, compared with 46,320 in 2024 and 47,029 in 2023, highlighting the need for continued efforts to strengthen women’s safety and support systems.

The report said the state government continues to implement multiple social welfare and development schemes to improve health, education, nutrition and social security outcomes across Maharashtra. -- PTI

Maharashtra has over 1.04 lakh primary schools with enrolment of about 1.45 crore students, while secondary and higher secondary schools number 29,641 with 63.6 lakh students, according to the Economic Survey 2025-26 tabled in the State legislature on Thursday (March 5, 2026).

The survey said the number of schools imparting primary and upper primary education has partially risen from 1,04,499 schools in 2023-24 to 1,04,526 in 2024-25, though percentage of schools in rural areas has declined from 75.2 in 2023-24 to 75.1 in 2024-25.

Primary schools per thousand children in the age group was 10.1 in 2023-24, which has come down to 10 in 2024-25.

Percentage of girls’ enrolment was 47.7 in 2023-24 and in 2024-25 it is 47.8, the economic survey said, adding the pupil teacher ratio, which was 31.1 in 2023-24, has now dipped to 30:1.

It said the government is implementing several programmes for child welfare and nutrition, including the Integrated Child Development Services (ICDS) scheme, which operates through 1,10,664 anganwadis across 553 child development projects in the State.

The scheme provides services such as supplementary nutrition, immunisation, health check-ups, referral services and pre-school education for children below six years as well as pregnant and lactating women.

The survey also noted that the share of the child budget in the total state budget increased from 12.9% in 2024-25 (revised estimates) to 13.3% in 2025-26 (budget estimates). -- PTI

The number of motor vehicles on road in Maharashtra increased by 40 lakh or 8.2% in 2025, said the Economic Survey 2025-26 tabled in the legislative Assembly ahead of the State budget.

The total number of motor vehicles stood at 5.28 crore as of January 1, 2026, compared to 4.88 crore at the beginning of the last year.

There were 41,000 vehicles per one lakh population in the State as of January 1.

There were 3.78 crore motorcycles, scooters and mopeds, accounting for the largest share of registered vehicles. Light motor vehicles (cars, jeeps, station wagons and taxis) numbered 77.10 lakh.

The State also has 12.96 lakh auto-rickshaws, 15.93 lakh tractors, 5.20 lakh trailers, 2.01 lakh buses and 26,002 ambulances as of January 2026, as per the survey data.

The number of vehicles per kilometre of road length in the state stood at 153, while the vehicle density per lakh population was 41,000, the survey said. -- PTI

The survey also estimates that per capita State income will rise to ₹3,47,903 in 2025-26 from ₹3,17,800 in 2024-25. Meanwhile, the State’s fiscal deficit is projected at 2.7% of GSDP and debt stock at 18.3% of GSDP for the year. 

Maharashtra continues to hold a dominant economic position nationally, accounting for the highest share of India’s GDP at 14.3% among States. It also ranks first in FDI inflows, start-ups, GST collections, bank deposits and bank credit, according to the survey. The state also ranks first in foreign tourist visits and has received national gold awards under the One District One Product (ODOP) initiative, including for Ratnagiri’s Alphonso mango in agriculture. 

Meanwhile, social indicators show Maharashtra performing better than the national average on several parameters such as infant mortality rate, maternal mortality ratio and total fertility rate, as per data cited in the survey. The Economic Survey provides an overview of the state’s economic performance, sectoral trends and key development indicators ahead of the presentation of the State budget. -- ANI

Maharashtra’s economy is expected to grow at 7.9% in 2025-26, up from 7.3% in 2024-25, according to the Economic Survey of Maharashtra 2025-26 tabled in the State Assembly on Thursday (March 5, 2026). 

The survey projects steady expansion driven mainly by the services and industrial sectors, while the state continues to maintain its position as one of the country’s largest economic contributors.

As per advance estimates, the services sector is expected to grow by 9% in 2025-26, compared with 8.3% in 2024-25, while the industry sector is projected to grow by 5.7%, up from 4.3% in the previous year. However, agriculture and allied activities are expected to grow by 3.4%, lower than the 9.1% growth recorded in 2024-25. -- ANI

Maharashtra will become a trillion dollar economy within five years if it does not face any droughts in that period, Maharashtra Chief Minister Devendra Fadnavis said on Thursday (February 26, 2026). He was responding to the discussion on the Governor’s opening address in the Legislative Assembly during the ongoing Budget Session. From the debate over the three-language policy, to the accusations over the MOUs signed in Davos, to Tipu Sultan controversy, to Maharashtra-Karnataka border dispute and Marathi medium schools, he spoke on several issues.

The heads of various Maharashtra government development corporations on Thursday (February 19, 2026) made a strong pitch for Maharashtra’s ongoing infrastructural development, adding that new projects being developed would go a long way in propelling the State’s economy to reach $1 trillion in size by 2030.