Mumbai: Describing the Maharashtra Budget for 2026–27 as a roadmap for a developed India, Devendra Fadnavis on Friday said the financial plan aligns with the vision of “Viksit Bharat 2047” and lays the foundation for transforming the state into a five-trillion-dollar economy by the centenary year of India’s Independence.
Vision Document For State
Speaking to reporters after presenting the Budget in the state assembly, Fadnavis said Maharashtra, being the country’s economic engine, will play a crucial role in achieving the national development goal. He noted that the government has prepared a “Vision Document for Viksit Maharashtra 2047”, which outlines short-term goals to be achieved by 2029-30, medium-term targets by 2035, the year marking the state’s Amrut Mahotsav, and long-term objectives to be realised by 2047.
Four Pillars Of Budget
According to the Chief Minister, the Budget has a capital expenditure outlay of around Rs 1 lakh crore and is structured around four key pillars — progressive growth, sustainability, inclusivity and good governance. These pillars, he said, will guide development across 16 identified sectors and will shape future state budgets as well.
Farm Loan Waiver Scheme
Fadnavis said the government has also fulfilled its election promise of a farm loan waiver made ahead of the 2024 assembly elections. As part of this, he announced the Punyashlok Ahilyadevi Holkar Shetkari Karjmafi Yojana, under which crop loans of up to Rs 2 lakh taken by farmers until September 30, 2025 will be waived. In addition, farmers who have regularly repaid their loans will receive an incentive of Rs 50,000 as a reward.
Farmers Beneficiary Verification
The Chief Minister informed that banks have so far submitted a list of nearly 28 to 30 lakh debt-ridden farmers to the government. The process of verifying these names is underway and is expected to take another 15 to 25 days, after which the final number of beneficiaries will be determined. He also noted that around 20 lakh farmers have been repaying their loans regularly and the government has decided to reward them for their discipline in repayments.
Estimated Financial Burden
Fadnavis said the state may have to bear an estimated financial burden of around Rs 30,000 crore for the farmers loan waiver scheme, although the exact figure will be known only after the complete data from banks is verified.
Technology In Agriculture
He also highlighted the use of technology in agriculture, stating that the government plans to create an integrated value chain for 10 to 15 major crops to provide farmers with better access to global markets. The introduction of artificial intelligence and digital technologies in farming is expected to reduce production costs by nearly 25 percent, he added.
Agri Stack Implementation
The Chief Minister also referred to the implementation of an Agri Stack system linked to Aadhaar to ensure transparency in farm loan data. According to him, discrepancies had been noticed earlier when some banks submitted details of accounts that had been closed years ago. “The loan waiver scheme is meant for farmers and not for banks. With Agri Stack, we will have an authentic database,” he said, adding that the system may take two to three months to be fully operational.
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Ladki Bahin Scheme Outlay
Fadnavis further clarified that the outlay for the popular “Ladki Bahin” scheme remains similar to last year’s allocation of around Rs 36,000 crore, though the funds have been placed under different budget heads and will be utilised as required.
Infrastructure Development Push
Highlighting infrastructure development, the Chief Minister said the government has undertaken projects worth about Rs 6,000 crore to build sewage and wastewater treatment facilities in smaller cities across the state. He emphasised that digitisation and artificial intelligence are being introduced across multiple sectors to improve efficiency, reduce wastage of resources and bring down operational costs.
Shinde Welcomes Budget
Reacting to the Budget, Deputy Chief Minister Eknath Shinde described it as a visionary financial plan that balances development between rural and urban Maharashtra. He said the Budget reflects social responsibility by providing farm loan relief and continuing welfare schemes, while also strengthening infrastructure to connect cities and villages across the state.
Sunetra Pawar’s Reaction
Deputy Chief Minister Sunetra Pawar also welcomed the Budget, calling it a forward-looking and inclusive document that effectively implements the vision of a developed Maharashtra. She thanked the Chief Minister for dedicating the Budget to Ajit Pawar and said the announcement of a memorial in his honour along with the institution of the “Gatiman Nagari Seva Award” in his name was a fitting tribute.
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