Mumbai, March 6: Devendra Fadnavis on Friday presented the Maharashtra Budget 2026–27 in the state Assembly with a massive outlay of ₹7.69 lakh crore, announcing a farm loan waiver of up to ₹2 lakh along with a series of measures aimed at strengthening agriculture, boosting infrastructure and accelerating economic growth.
A key highlight of the budget is the Punyashlok Ahilyabai Holkar Farmers’ Loan Waiver Scheme, under which crop loans of up to ₹2 lakh outstanding until September 2025 will be waived to provide relief to debt-burdened farmers. The government also introduced an incentive of ₹50,000 for farmers who repay their loans on time, encouraging financial discipline among borrowers.
Presenting the budget, Fadnavis said the government has kept fiscal indicators under control despite large spending commitments. “The government has managed to keep the revenue deficit below 1 per cent of GSDP and fiscal deficit below 3 per cent of GSDP,” he said.
According to the budget estimates, the state projects revenue receipts of ₹6,16,099 crore against revenue expenditure of ₹6,56,651 crore, resulting in a revenue deficit of ₹40,552 crore. The fiscal deficit is estimated at ₹1,50,491 crore.
To strengthen the agricultural sector, the government allocated ₹20,000 crore for free electricity for farmers operating water pumps up to 7.5 horsepower. In a technology-driven initiative, an Artificial Intelligence-based pilot project will be launched in 75 villages to provide farmers with real-time information on weather patterns, soil health and crop trends.
The budget also proposes expanding sustainable farming practices through natural farming experiments across five lakh hectares of land. Special incentive programmes for women involved in dairy, poultry and goat farming have been announced in recognition of 2026 as the International Year of Women Farmers.
Infrastructure development forms another major focus of the budget. The government plans to expand the state’s transport network with 1,200 km of metro rail lines and over 6,000 km of expressways by 2047. Key projects include the completion of the Sewri–Worli connector by September 2026 and linking South Mumbai with the Samruddhi Expressway by 2028. Underground tunnel projects have also been proposed in Mumbai and Pune to ease traffic congestion.
The government also aims to transform Maharashtra into a seamless multimodal transport hub, with faster execution and dedicated funding proposed for the Mumbai–Pune High-Speed Rail Corridor.
To boost innovation and entrepreneurship, the state will develop a Startup and Innovation Centre on 130 acres in Wadala and establish a new commissionerate to support micro, small and medium enterprises (MSMEs). In addition, Mumbai, Pune and Nagpur will be developed as major economic growth hubs with a ₹5,000 crore investment over the next five years.
On the social welfare front, the government confirmed continued funding for the Ladki Bahin Yojana after verification of beneficiaries. The state has also spent ₹33,410 crore under the Pradhan Mantri Awas Yojana-Gramin to build rural housing, which will now include mandatory rooftop solar installations.
In a move aimed at decentralising the entertainment industry, the government announced the development of a new film city in Ramtek in the Vidarbha region.
The budget also focuses on rural infrastructure, with plans to connect all villages with populations above 1,000 with durable concrete roads to improve connectivity.
Highlighting the state’s long-term economic roadmap, Fadnavis said Maharashtra is aiming to become a $1 trillion economy by 2030 and a $5 trillion economy by 2047.
“Maharashtra serves as the financial engine of the country and will play a key role in achieving the $5 trillion economy goal by 2047,” the Chief Minister said.
