Mumbai (Maharashtra) [India], March 10 (ANI): Maharashtra’s Deputy Chief Minister and Finance Minister Ajit Pawar presented the 2025-26 Budget on Monday in keeping with Prime Minister Narendra Modi’s resolve to make India a developed nation by 2047.
Aiming to realise the ‘Developed India, Developed Maharashtra’ dream, Pawar gave the call of ‘Maharashtra will stop nomore… development won’t be delayed anymore’, NCP said in an official statement.
He expressed confidence that the budget will live by the voters’ trust. “The budget has significant provisions for agriculture, agriculture-based sectors, industries, business, education, health, tourism, infrastructure, and social development. It is expected to boost domestic and foreign investments and increase employment and self-employment opportunities,” as per the release.
At the beginning of his budget speech, Pawar paid tribute to Maharashtra’s revered icons, including Chhatrapati Shivaji Maharaj, Chhatrapati Sambhaji Maharaj, Rajmata Jijamata, Chhatrapati Rajarshi Shahu Maharaj, Mahatma Jyotirao Phule, Babasaheb Ambedkar, Rajmata Ahilya Devi Holkar, Savitribai Phule, and Lokshahir Annabhau Sathe. He also remembered the martyrdom of Guru Tegh Bahadur, the 9th Guru of the Sikhs, on the occasion of the 350th year. The year also marks the 300th Golden Jubilee of Queen Tarabai, the warrior queen of the Maratha Empire, and the centenary of Ahilya Devi Holkar’s birth. He also expressed gratitude for the 75 years of the Indian Constitution.
The release further added that Pawar stated that the state provides a favorable environment for investments, and Maharashtra continues to lead in industrial development and is a top performer in foreign direct investment. “During the World Economic Forum held in Davos in January 2025, the state government signed agreements with 63 companies, which are expected to bring in an investment of Rs 15.72 lakh crore, creating around 16 lakh jobs”.
He also announced the “Maharashtra Tax, Interest, Penalty or Delayed Fee (Public Sector Companies) Debt Settlement Act, 2025,” which will be in effect until December 31, 2025, the release said.
Key Features of the Budget include: The fiscal deficit is maintained below 3 per cent of the Gross State Domestic Product (GSDP), and revenue deficit has remained below 1 per cent of the GSDP.
Efforts to increase development rate through capital expenditure aimed at stimulating the development cycle. The target is to increase Mumbai Metropolitan Region’s economy to $300 billion by 2030 and $1.5 trillion by 2047.
A new industrial policy will be formulated to attract investments through “Make in Maharashtra,” targeting Rs 40 lakh crore investment and creating 50 lakh jobs in the next 5 years.
The agriculture sector’s growth rate has improved to 8.7 per cent in 2024-25, and further steps will be taken to boost farmers’ income, increase agricultural production, and provide infrastructure like solar energy for irrigation and electricity.
The government will make special efforts to secure more central funds for the state through centrally sponsored schemes.
The state’s Goods and Services Tax (GST) revenue is expected to grow by 12-14 per cent annually.
Innovative measures such as public asset monetization, financing from international financial institutions, and project streamlining will be taken to ensure smooth fund availability for ambitious schemes.
Sufficient budgetary provisions are made for highways, ports, airports, waterways, bus transport, railways, and metro systems.
Efforts will be made to ensure quality rural roads, with substantial financial backing for state highways and district roads.
A new housing policy will soon be announced, with Rs 15,000 crore allocated for rural housing and Rs8,100 crore for urban housing projects in the next 5 years.
A significant 33 per cent increase in the state’s annual plan, with a 42 per cent increase in Scheduled Caste and 40 per cent increase in Scheduled Tribe schemes.
A high-level committee will evaluate and streamline ongoing schemes to optimize resources and suggest improvements.
Direct Benefit Transfer (DBT) will be implemented for all individual beneficiary schemes from April 1, 2025.
Provisions have been made to preserve the state’s cultural heritage, including funding for monuments, pilgrimage development, and tourism site improvements.
The state will promote water tourism through various projects. Policies and budgetary provisions will be made to improve infrastructure for sports and support athletes.
Smart PDS and blockchain technology will be introduced in the Public Distribution System to increase transparency.
Various festivals and events will be organized to highlight Maharashtra’s leadership in the cooperative sector.
A new public health policy will ensure quality primary healthcare services within a 5 km radius for every individual.
The implementation of the National Education Policy will be streamlined, with full reimbursement of education and examination fees for girls in vocational education.
The infrastructure of state courts will be strengthened to expedite legal proceedings. (ANI)
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