Budget Accelerates Development of Smaller Cities; Empowers Mumbai and Maharashtra – Deputy CM Eknath Shinde’s Response

Mumbai, Feb 2026 : The Union Budget provides a strong push for the comprehensive development of smaller cities while simultaneously boosting infrastructure and giving large-scale incentives to micro, small, and medium enterprises. This will significantly strengthen Mumbai and Maharashtra, which are the country’s growth engines. Deputy Chief Minister Eknath Shinde described the budget as a determined step toward Prime Minister Narendra Modi’s vision of a developed India. He congratulated Finance Minister Nirmala Sitharaman for presenting the ninth budget that propels India toward a self-reliant and developed future.

Shinde stated that while economies of many countries are faltering, India has maintained its growth trajectory. The budget has been crafted around three key objectives: economic growth, raising the standard of living of the common citizen, and “Sabka Saath, Sabka Vikas.” It reflects awareness of the present and vision for the future.

Highlighting the benefits for Mumbai and Maharashtra, Shinde said last year the city hosted a world-class WAVES conference related to the entertainment and leisure industries. Recognizing Mumbai as the hub for these industries, the announcement to establish an Indian Institute of Creative Technology there is significant. With rapid urbanization in Maharashtra, the budget’s focus on the all-round development of Tier-II and Tier-III cities will boost their economic strength. Infrastructure expansion in cities with populations over 5 lakh, alongside the creation of a dedicated urban infrastructure fund of ₹12 lakh crore, will transform urban landscapes. Additionally, providing ₹100 crore concessions for municipal bonds will strengthen metropolitan municipalities in the state.

Maharashtra has a significant manufacturing base, and the schemes announced to incentivize MSMEs will benefit both small and large manufacturing industries. Provisions include ₹40,000 crore for the semiconductor sector, ₹10,000 crore for biopharma, support for advanced technology in textiles, encouragement of handloom and handicraft industries, container manufacturing schemes, and tax incentives for data centers. Given that these industries are concentrated in Maharashtra, the state will gain substantially.

Announcements for high-speed rail corridors like Mumbai–Pune and Pune–Hyderabad will give a strong boost to railway projects in the state. Establishing medical hubs and promoting medical tourism will generate significant employment in healthcare in globally benchmarked cities like Mumbai and Pune.

While promoting the fisheries sector, technology-driven measures to boost coconut and cashew production will benefit a coastal state like Maharashtra. Shinde also noted that Maharashtra has made significant strides in women’s empowerment over the past three years. Finance Minister Nirmala Sitharaman’s announcement to create entrepreneurship opportunities for women—similar to the “Lakhpati Didi” initiative—through SHI-Mart will help poor women stand independently. The plan to construct hostels for girls in every district will further empower them. Reducing import duties on medicines for rare diseases will provide relief to thousands of patients.

The simplified new income tax system announced last year will be implemented from April, benefiting taxpayers of all scales, Shinde added.

Amid global instability and trade conflicts, India has sent a strong message to the world by keeping the goal of self-reliance in focus. Shinde emphasized that the three duties outlined by the Finance Minister in her speech will guide India on the path of genuine progress and truly embody “Sabka Saath, Sabka Vikas.” He credited Prime Minister Narendra Modi’s visionary leadership for enabling India to maintain its growth rate even in such turbulent times.