Maharashtra Budget 2026 LIVE Updates: CM Devendra Fadnavis Set To Present Budget; All Eyes On Key Allocations & Announcements
· Free Press Journal
Facing ₹9.32 Lakh Crore Debt, Ambitious About $1 Trillion Economy Dream
The state faces an unprecedented debt of Rs 9.32 lakh crore while pursuing ambitious economic goals, including becoming a one trillion dollar economy by 2030 and achieving a five trillion dollar target under the Viksit Maharashtra 2047 initiative. The upcoming budget is expected to outline strategies to balance fiscal consolidation with growth-oriented reforms.
Agriculture Growth Slumps Amid Adverse Weather
Agricultural growth is forecast to decline sharply from 9.1 per cent in 2024-25 to 3.4 per cent in 2025-26. Nearly 42 per cent of the state was affected by excessive rainfall in 2025, damaging crops, while untimely rains and hailstorms further hampered output. The kharif crop faced severe losses, with pulse production expected to drop by 28 per cent and oilseed output by 47.4 per cent. These weather-related setbacks significantly suppressed growth in the agricultural sector during the year.
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Per Capita Income to Increase; State Ranks 5th Nationwide
The state’s Economic Survey 2025-26 projects Maharashtra’s per capita income to grow from Rs 3,17,800 in 2024-25 to Rs 3,47,903 in 2025-26, remaining well above the estimated national average of Rs 2,19,575. Despite this growth, Maharashtra ranked fifth in the country in per capita income in 2024-25, behind Telangana, Karnataka, Tamil Nadu and Gujarat. The figures reflect continued economic expansion, though several states maintain higher per capita income levels.
Maharashtra Holds 5th Rank In Per Capita Income, Gujarat Continues To Stay Ahead In Latest Economic SurveyMaharashtra’s Economic Growth Projected to Reach 7.9% in 2025-26
Maharashtra’s economic growth is expected to rise from 7.3 per cent in 2024-25 to 7.9 per cent in 2025-26, according to the state’s Economic Survey 2025-26 presented in the legislature on Thursday. This projection surpasses the national growth estimate of 7.4 per cent. The survey notes that while the agricultural sector experienced a slowdown due to unseasonal rains and floods, stronger performance in the industrial and services sectors, weighted more heavily in overall growth calculations, helped offset these losses.
Maharashtra Economic Survey Reveals Investment Implementation Gap Despite Strong 7.9% Projected GSDP GrowthMaharashtra Gets New Governor Amid Budget Session
Jishnu Dev Varma has been appointed Governor of Maharashtra as part of a nationwide reshuffle announced by Rashtrapati Bhavan. R. N. Ravi will serve as Governor of West Bengal, while Syed Ata Hasnain has been appointed Governor of Bihar among other key changes.
Jishnu Dev Varma Appointed Maharashtra Governor Amid Ongoing Budget Session In Major Reshuffle By CentreCM Fadnavis Set To Present Budget 2026
Maharashtra Chief Minister Devendra Fadnavis is set to present the state budget for the 2026-27 financial year in the Assembly today. The finance portfolio, previously managed by Ajit Pawar, has now been taken over by Fadnavis following Pawar’s tragic death in a plane crash in Baramati.
The budget has drawn major attention, with many awaiting key announcements related to a long-anticipated farm loan waiver and a possible increase in the honorarium for beneficiaries of the Ladki Bahin scheme.
Farmers’ groups and political observers are closely watching the presentation, as the government is expected to outline its financial priorities and welfare measures for the coming year. Whether the budget will include relief measures for farmers and enhanced support for women beneficiaries remains one of the main points of interest ahead of the announcement.