Ajit Pawar stated that the Mahayuti government is actively working to attract investments in the industrial sector, leading to significant investments in the state
Maharashtra Finance Minister Ajit Pawar stated that the government is actively working to attract investments in the industrial sector, leading to significant investments in the state. Pic/PTI
Deputy Chief Minister (CM) and Finance Minister Ajit Pawar presented the Maharashtra Budget 2025 on Monday (March 10, 2025).
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Pawar presented a Rs 7,00,020 crore budget for 2025-26 with a revenue deficit of Rs 45,891 crore in the state legislative assembly.
“The Maharashtra Budget 2025 for the year 2025-26 has allocated a total expenditure of Rs 7,00,020 crore. Revenue collection is estimated at Rs 5,60,964 crore, while revenue expenditure is projected at Rs 6,06,855 crore. As a result, the estimated revenue deficit stands at Rs 45,891 crore,” said Pawar.
“Maharashtra will not stop now, development will not be delayed,” the Finance Minister said.
Pawar stated that the government is actively working to attract investments in the industrial sector, leading to significant investments in Maharashtra.
State government commits to development, expresses gratitude to Centre
Maharashtra’s Finance Minister Ajit Pawar presented the state’s annual budget today, marking his 11th budget presentation on the auspicious occasion of Amalaki Ekadashi. In his address, he paid tribute to revered historical and social reformers, including Chhatrapati Shivaji Maharaj, Chhatrapati Sambhaji Maharaj, Rajmata Jijau, Chhatrapati Shahu Maharaj, Mahatma Jyotirao Phule, Bharat Ratna Dr Babasaheb Ambedkar, Rajmata Ahilyadevi Holkar, Krantijyoti Savitribai Phule, and Lokshahir Annabhau Sathe. He also commemorated the 350th anniversary of the martyrdom of Sikh Guru Shri Guru Tegh Bahadur.
The Finance Minister highlighted the significance of the year 2025, calling it a “historic period” as it marks the 300th golden jubilee of Swarajya Saudamini Maharani Tarabai and the 300th birth anniversary of Punyashloka Ahilyadevi Holkar. Additionally, he emphasized that India’s Constitution, a pillar of the country’s democracy, has completed 75 years.
Mahayuti’s historic mandate and development commitment
Reflecting on the results of the November 2024 Maharashtra Assembly Elections, the Finance Minister thanked the people for giving an “unprecedented majority” to the Mahayuti government. “The trust shown by voters in us is a great responsibility. I assure you that the Mahayuti government will honor this trust and remain committed to the state’s progress,” he said.
He also lauded the Union Budget presented on February 1, 2025, highlighting the income tax relief provided to the middle class. He stated that the provisions made by the Central Government would significantly boost various welfare and infrastructure projects in Maharashtra.
Investment and employment generation
Maharashtra continues to lead in industrial development and ranks first in the country in terms of foreign direct investment (FDI). During the World Economic Forum held in Davos in January 2025, the state government signed Memorandums of Understanding (MoUs) with 63 companies.
Through these agreements, an investment of Rs 15,72,654 crore is expected in the coming period, which is estimated to generate around 16 lakh jobs across various sectors. The Finance Minister emphasised that these investments would strengthen Maharashtra’s position as an economic powerhouse and create new opportunities for skilled and unskilled workers alike.
State announces 'Logistics Policy-2024'
The state has announced the 'Logistics Policy-2024', under which dedicated logistics infrastructure will be developed over 10,000+ acres of land.
With the special incentives and facilities offered for these projects, approximately 5 lakh direct and indirect jobs are expected to be created.
Gadchiroli: emerging as a 'steel hub'
“Once known as a Naxal-affected district, Gadchiroli is now emerging as a 'steel hub' said Ajit Pawar. During the World Economic Forum in Davos, investment agreements worth Rs 21,830 crore were signed for the district, which is expected to generate 7,500 jobs.
“To improve connectivity in Gadchiroli, a network of mining highways is being developed. In the first phase, projects worth approximately Rs 500 crore will be undertaken,” he added.
Electricity tariff proposal and cost savings
“Mahavitaran has submitted a proposal to the Maharashtra Electricity Regulatory Commission to fix electricity tariffs for the next five years,” Pawar said.
“Due to strategic planning in the energy sector and the procurement of lower-cost green energy, an estimated savings of Rs 1.13 lakh crore in power purchase costs is expected over the next five years,” he added.
As a result, industrial electricity rates in Maharashtra will be lower compared to other states, he said.
New Jetty to be built at Radio Club near Gateway of India
“The construction of a jetty equipped for passenger transport at Radio Club near the Gateway of India in Mumbai is progressing at a cost of Rs 229.27 crore. Additionally, work on jetties at Dighi in Raigad district, Vengurla in Sindhudurg district, as well as Kalher-Dombivli, Kolshet, and Mira-Bhayander in Thane district, is underway. The construction of a floating jetty at Kashid in Raigad district will also commence soon,” said Ajit Pawar.
'Gratitude to PM Modi for strong Central support'
Expressing gratitude to Prime Minister Narendra Modi, the Finance Minister acknowledged the Centre’s substantial financial support for Maharashtra’s railway projects, infrastructure development, and social welfare schemes. He expressed confidence that the state would continue to receive similar support from the Central Government in the future.
As Maharashtra moves ahead with ambitious development plans, the budget presentation sets the tone for the state’s financial roadmap under the Mahayuti government. The focus remains on economic growth, infrastructure expansion, and social welfare initiatives.
Notably, this is the first budget for the newly-formed Mahayuti government and Ajit Pawar’s 11th budget as a Finance Minister.
In a press statement, the Nationalist Congress Party (NCP) said that Ajit Pawar has been a strict administrator in terms of financial discipline and maintains a fine balance between people-friendly decisions and development decisions in the budget. During the Covid-19 crisis, when several states faced financial difficulties, Pawar’s fiscal prudence and discipline were appreciated. He has always given priority for development projects and boosting infrastructure development in the State, keeping farmers, laborers, women, dalits, tribals, students, and youth at the center of the budget.
In 2021, Ajit Pawar had presented the budget on International Women’s Day and in 2022, he presented the budget on March 11, the death anniversary of Chhatrapati Sambhaji Maharaj. The party in the statement said that Pawar has also presented budgets focusing on agriculture, industry, transportation, healthcare, and human resource development.
“Ajit Pawar will present his 11th state budget today and this will make him the second Finance Minister to present the highest number of budgets after Sheshrao Wankhede, who presented the budget 13 times in the State. Mr Pawar holds the second-highest record with 11 times, followed by Jayant Patil (10 times) and Sushilkumar Shinde (9 times),” read the statement.
On March 8, the state’s pre-Budget Economic Survey tabled in the assembly.
According to the Economic Survey, Maharashtra’s economy is projected to grow at 7.3 per cent in the financial year 2024-25, surpassing the national growth estimate of 6.5 per cent.
The agriculture and allied activities sector is expected to grow at 8.7 per cent, while industry and services are projected to expand by 4.9 per cent and 7.8 per cent, respectively. Maharashtra’s nominal Gross State Domestic Product (GSDP) for 2024-25 is estimated at Rs 45.31 lakh crore, up from Rs 40.55 lakh crore in 2023-24.
The state continues to lead the nation with the highest contribution to India’s nominal GDP at 13.5 per cent.
The per capita income for 2024-25 is estimated at Rs 3,09,340, a significant rise from Rs 2,78,681 in the previous financial year. However, Maharashtra’s per capita income trails behind Tamil Nadu (Rs 3,15,220), Karnataka (Rs 3,32,926), and Gujarat (Rs 2,97,722).
Earlier, the Maharashtra government tabled supplementary demands worth Rs 6,486 crore on the first day of the budget session of the state assembly.
Deputy Chief Minister Ajit Pawar, who holds the finance portfolio, presented the supplementary demands, which are additional funds sought by the government over the budgetary allocation.
Of the demands worth Rs 6,486 crore, Rs 2,133.25 crore were for schemes sponsored by the Centre.
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