Budget 2026–27 based on the goal of ‘Viksit Maharashtra 2047’ – Chief Minister Devendra Fadnavis

Loan waiver up to ₹2 lakh for eligible farmers; Punyashlok Ahilyadevi Holkar Farmer Loan Waiver Scheme announced

Mumbai, March 2026: The Government has presented the ₹7,69,467 crore Budget for the financial year 2026–27 of Maharashtra, which has been prepared based on the long-term roadmap of “Viksit Maharashtra 2047.” Chief Minister Devendra Fadnavis said that the Punyashlok Ahilyadevi Holkar Farmer Loan Waiver Scheme has been announced, under which eligible farmers will receive a loan waiver up to ₹2 lakh. He also clarified that farmers who regularly repay loans will be given an incentive of ₹50,000.

Chief Minister Devendra Fadnavis presented the 2026–27 Budget in the Assembly today at 2 pm. After that, Chief Minister Devendra Fadnavis, Deputy Chief Minister Eknath Shinde, Deputy Chief Minister Sunetra Ajit Pawar, Revenue Minister Chandrashekhar Bawankule, Minister of State for Finance Ashish Jaiswal and Additional Chief Secretary of the Finance Department O. P. Gupta interacted with journalists in the press room at the Legislature building.

At this time, the Chief Minister said that many times development reports are prepared but they do not remain connected with the Budget. However, this time the Budget has been presented through four sectors and sixteen sub-sectors, based on the four major pillars of progressive, sustainable, inclusive and good governance.

Focus on farmers and agriculture sector

Chief Minister Fadnavis said that to increase agricultural production, the use of artificial intelligence (AI) technology, an integrated value chain for 10 to 15 crops, and a 25 percent reduction in production cost have been targeted. Currently, 30 lakh farmers are using the digital platforms ‘Agristack’ and ‘Mahavistar’, and the goal is to extend them to all farmers.

Energy, irrigation and infrastructure

The Chief Minister said that 4,000 MW capacity has been completed so far under the Chief Minister Solar Agricultural Feeder Scheme, and this year there is an intention to increase it to 13,000–14,000 MW, which will enable farmers to receive electricity during the daytime. In irrigation, various river linking projects will be implemented, and floodwater from Sangli–Kolhapur will be diverted to drought-affected areas. With the cooperation of the World Bank, ₹6,000 crore sewerage and wastewater treatment projects will be implemented in small cities.

Schemes for women will continue

Chief Minister Fadnavis said that the “Mukhyamantri Majhi Ladki Bahin” scheme will continue and the required funds have been provided. So far 37 lakh women have been made ‘Lakhpati Didi’, and this year the target is to make another 25 lakh women Lakhpati Didi.

Opportunities for youth

Under the EduCity project being established in the state, five international universities have already come and seven more universities will come. One lakh students will get an opportunity for education here and will be able to study at one-fourth of the cost of studying abroad.

A Fund of Funds has been created for startups, and selected startups will be given government work up to ₹25 lakh directly. The state government has also decided to create 75,000 new jobs.

Social justice and tribal development

Increased provision has been made for Scheduled Castes and Scheduled Tribes, and the maintenance allowance of students has been increased. The ‘Birsa’ scheme will be launched to encourage startups of tribal youth.

Environment and tree plantation

To increase the forest cover in the state to 33 percent, a mission to plant 300 crore trees in seven years has been undertaken. Through this campaign, employment generation will also be promoted, said Chief Minister Fadnavis.

Strong financial condition of the state

Chief Minister Fadnavis said that the state’s fiscal deficit is 2.60 percent, which is within the 3 percent limit under the Fiscal Responsibility and Financial Management Act. The revenue deficit has been kept within 1 percent, and the state debt has been controlled at 18.5 percent of GDP.

The state’s growth rate is 7.9 percent, which is higher than the Centre’s 7.3 percent. The economy of Maharashtra has now reached 566 billion dollars (about ₹51 lakh crore), the Chief Minister said.

Moving towards a trillion-dollar economy

Chief Minister Fadnavis said that at the current growth pace, Maharashtra can become the first trillion-dollar economy in the country. He finally noted that capital expenditure has been increased by 21 percent to ₹1.12 lakh crore.

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Visionary budget leading towards Viksit Maharashtra 2047 – Deputy Chief Minister Eknath Shinde

Deputy Chief Minister Eknath Shinde expressed the view that the 2026–27 Budget presented by Chief Minister and Finance Minister Devendra Fadnavis is a visionary budget that firmly moves toward the goal of Viksit Maharashtra 2047.

Deputy Chief Minister Shinde said that this is the first budget being presented after the tragic demise of former Deputy Chief Minister Ajit Pawar, and through it a heartfelt tribute has been paid to him. He said that Chief Minister Fadnavis, who has a deep understanding of the state’s financial system, has presented a well-studied and visionary budget.

He noted that the budget gives special emphasis to the development of infrastructure in the state. Along with strengthening the network of roads, metro, railways and waterways, a decision has been taken to construct concrete roads up to villages in rural areas.

At present, infrastructure projects worth more than ₹8–10 lakh crore are underway in the state, and Maharashtra has the highest number of infrastructure projects in the country, said Shinde.

The “Mukhyamantri Majhi Ladki Bahin” scheme announced by the state government will continue, and the decision of loan waiver for farmers has also been announced in the budget. A decision has been taken to waive loans up to ₹2 lakh till 30 September 2025, and a ₹50,000 incentive subsidy will be given to farmers who repay loans regularly, he said.

Shinde also said that Maharashtra will make a major contribution to the vision of “Viksit Bharat 2047” presented by Narendra Modi, and this budget will be an important milestone in achieving the state’s goal of a one-trillion-dollar economy.

Various initiatives have also been undertaken to boost tourism development in the state. A ropeway at Vasota Fort in Satara district has been announced, which will make it easier for tourists to experience historical heritage sites.

While maintaining the state’s financial discipline, the fiscal deficit has been kept below 3 percent of the Gross State Domestic Product, and the revenue deficit and debt levels have also been kept within limits. Deputy Chief Minister Shinde expressed confidence that this budget will accelerate the progress of farmers, women, youth and common citizens.

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Budget in line with the development vision of late Ajit Pawar – Deputy Chief Minister Sunetra Ajit Pawar

Deputy Chief Minister Sunetra Ajit Pawar said that the 2026–27 Budget presented by Chief Minister and Finance Minister Devendra Fadnavis is inclusive and moving toward a developed Maharashtra.

She thanked Chief Minister Fadnavis for dedicating the budget to the memory of former Deputy Chief Minister Ajit Pawar. She also noted that the announcement of the “Gatiman Citizen Service Award” in the name of Ajit Pawar is a true tribute to him.

Deputy Chief Minister Sunetra Pawar said that the budget is based on four major pillars — progressive, sustainable, inclusive and good governance — and will accelerate the development of the state. She said it is a visionary budget that will achieve balanced regional development and lead toward the goal of Viksit Maharashtra.

She also said that keeping Ajit Pawar’s development vision in mind, efforts have been made in this budget to maintain the pace of the state’s progress. Various facilities to strengthen agriculture, and provisions to expand tourism, industry and service sectors for employment generation, have been included.

She expressed confidence that around a 20 percent increase in funds for infrastructure will accelerate development works across the state. She also noted that reserving one percent funds from the district annual plan for persons with disabilities reflects sensitivity.

This year is being celebrated as the International Year of Women Farmers, and special priority has been given to women’s empowerment in the budget. Through the “Mukhyamantri Majhi Ladki Bahin” scheme and the “Lakhpati Didi” initiative, concrete steps have been taken to make women self-reliant.

A decision has also been taken in the budget to establish growth hubs in Pune, Nashik, Nagpur and Chhatrapati Sambhajinagar on the lines of Mumbai. Infrastructure will also be strengthened through the Amritkal Road Development Scheme and metro projects.

Deputy Chief Minister Sunetra Ajit Pawar expressed confidence that this budget will accelerate the development of farmers, workers, women, youth and common citizens and give a new direction and speed to Maharashtra’s progress.