Maharashtra Budget 2026 highlights: CM Fadnavis announces loan waiver for farmers; Ladki Bahin Yojana to continue

The Chief Minister announced that the Mukhyamantri Ladki Bahin Yojana will continue in the state. According to the Hindu, the CM said, “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.”

Till 2047, 1,200 km of metro and over 6,000 km of expressways will be developed, Fadnavis announced, as reported by TOI.

According to the Hindu, Fadnavis spoke about the Maharashtra digital health programme and said that medi-cities will be set up. Also, a naturopathy centre will come up in Satara.

The Maharashtra government will allocate Rs 20,000 crore for an electricity bill waiver for farmers using 7.5 HP water pumps. The state has also announced a farm loan waiver scheme, under which farmers with outstanding loans up to September 30, 2025, will be eligible for a waiver of up to Rs 2 lakh.

The crucial Panvel-Karjat suburban rail corridor will be completed soon, says Devendra Fadnavis

Fadnavis announced in his budget speech that all villages with a population of over 1,000 will be connected by concrete roads.

He also said that Nagpur-Gondia-Bhandara-Gadchiroli expressway will be built.

Fadnavis says by 2047, 70% population will be urban. "Urban management will be created and services to will  be digitised ...A start-up and innovation hub in Wadala will be set up."

Maharashtra govt to implement pilot project in 75 villages by using AI to upgrade lives of people, says CM Devendra Fadnavis.

Fadnavis said in his budget speech that “Ajit Pawar’s memorial will be constructed: “The man who was the Deputy Chief Minister for maximum number of times if not among us today. He had presented the budget for 11 years. His fiscal prudence had kept the State on track. This budget is dedicated to him.”

Fadnavis said that Pune has become the preferred destination for the GCC policy across India. He added 50 tourism destinations will see upgradation of access roads.

All issues and suggestions expected by the late Deputy Chief Minister Ajit Pawar will be incorporated in the upcoming State Budget, according to a release by the Maharashtra government. While providing relief to the common people, financial discipline will also be maintained, and strict measures will be taken if necessary, the released said.

CM Fadnavis a few weeks ago had said, "The late Deputy Chief Minister Ajit Pawar had undertaken extensive preparations for this Budget and intended to present an excellent financial statement. Pawar always adhered to fiscal discipline."

Recently, Maharashtra received an additional allocation of Rs 2,000 crore in the Union Budget. Through tax devolution, the state will receive Rs 98,306 crore, CM Fadnavis had said in February.

The Union Budget 2026 sanctioned two high-speed corridors for the state. Additionally, Rs 23,000 crore has been allocated under the Railway Budget, Fadnavis added. Over the past few years, Maharashtra has received substantial funding through the Central government.

Maharashtra's economic growth rate is set to rise from 7.3% in 2024-25 to 7.9% in 2025-26, according to the state's economic survey for 2025-26 that was tabled on Thursday.

Maharashtra has taken a lead in promoting technology-driven farming by hosting an Artificial Intelligence summit for the agriculture sector in Mumbai last month. The state government said it aims to use AI-based solutions to make agriculture more sustainable and improve farm productivity. Officials also highlighted that the initiative is intended to boost farmers’ incomes and strengthen the overall agricultural ecosystem in the state.

Chief Minister Devendra Fadnavis said in the Assembly last week, "If Maharashtra faces no drought in next few years, it will achieve the one-trillion dollar economy goal by 2029-30. If the state faces drought, the timeline will be impacted, delaying it to 2032."

The Ladki Bahin scheme has remained a key point of discussion after the government earlier proposed increasing the monthly benefit to Rs 2,100. However, the enhanced payment has not yet been implemented even after two years. With the state Budget approaching, attention is now on whether the government will finally announce the long-pending hike. The proposed increase in the monthly payout is likely to be deferred.

Maharashtra continues to remain a major destination for foreign investments. According to the state economic survey, the state received Rs 6,97,304 crore in Foreign Direct Investment (FDI) between October 2019 and March 2025, accounting for about 31% of India’s total inflows during this period.

The services sector is expected to grow by 9% in 2025–26, led mainly by financial services, real estate and professional services. Meanwhile, the agriculture and allied sectoare projected to slow significantly, with growth estimated at 3.4% in 2025–26, compared with 9.1% in the previous year.

The state’s real Gross State Domestic Product (GSDP) is projected to expand by 7.9% in 2025–26, slightly higher than the 7.4% growth forecast for the national economy. The survey estimates nominal GSDP at Rs 51,00,597 crore, while real GSDP at 2011–12 constant prices is projected at Rs 28,82,699 crore.

The Maharashtra Economic Survey 2025-26 highlighted a widening gap between announced investment proposals and actual project implementation, even as the state economy continues to record strong growth.