Busy morning for the financial capital today as Maharashtra is at set for the Budget 2025 presentation. The FY26 Budget for the state will be presented by Maharashtra’s Deputy Chief Minister Ajit Pawar. This is because he also holds the Finance and Planning portfolio. The state Government has released its Economic Survey with reports of the previous fiscal already. The extension of the ‘Ladki Bahin Scheme’ is a key expectation. That apart there are several other key announcements to watch out for as well.
Economic growth outlook
According to Maharashtra’s Economic Survey and advance growth estimates, the FY26 projected growth rate for the state is 7.3%. This number is based on the overall assumption that the Indian economy will be growing at 6.5% in FY25. This growth rate is pertinent as the state’s economy has suffered significantly in the past few years as a result of the economic turmoil. The latest numbers released by the PM’s Economic Advisory Committee report (2024), the state’s contribution to the GDP has slipped to 13% levels from 15.2% around FY11.
Focus on fiscal discipline
Given the ruling party’s commitment to capex and revenue generation in the poll manifesto, all eyes are on the overall fiscal health of the state and how it could impact the debt situation. As per the Economic Survey, the debt stock for the state is over Rs 7.85 lakh crore. This coupled with growing revenue deficit makes it a rather difficult task for Pawar to address the deficit concerns. Boosting capex and focussing on revenue generation remain key prerogative.
Ladki Bahin Yojana
The ‘Ladki Bahin Yojana’ has been one of the most popular schemes by the Maharashtra Government is recent times. According to the state’s Economic Survey report, Rs 17,505.90 crore has been transferred under the scheme so far and over 2 crore women have been beneficiaries. No points for guessing, there are expectation of extension of the scheme. However, there are expectations of some changes and stricter norms for qualifying for the benefits.
Allocation for Health
Under the integrated Mahatma Jyotiba Phule Jan Arogya Yojana and Ayushman Bharat scheme, the allocations are expected to be increased. The total allocations so far has been about Rs 1,143.26 crore up to December in FY25. However, these allocations need to be in sync with the overall fiscal condition of the state.