MUMBAI: Maharashtra Chief Minister Devendra Fadnavis presented the state's 2026-27 budget in the Legislative Assembly on Friday, proposing a total outlay of Rs 7.69 lakh crore, with a revenue deficit of Rs 40,552 crore and a fiscal deficit of Rs 1.50 lakh crore. Dedicated to the late Deputy Chief Minister Ajit Pawar, whom Fadnavis praised for his fiscal prudence over 11 budgets, the plan emphasizes farmer relief, infrastructure expansion, and sustainable growth to align with Prime Minister Narendra Modi's 'Viksit Bharat' vision.

In a major boost for the agrarian sector, Fadnavis unveiled the Punyashlok Ahilyabai Holkar Farmers’ Loan Waiver Scheme, waiving crop loans up to Rs 2 lakh for farmers with arrears until September 30, 2025. The initiative, estimated to cost Rs 35,000 crore, aims to alleviate debt burdens amid ongoing rural distress and is expected to benefit around 28-30 lakh farmers. Additionally, farmers who regularly repay loans will receive a Rs 50,000 incentive, aiding about 20 lakh individuals. The budget also allocates Rs 20,000 crore for waiving electricity bills for farmers using pumps up to 7.5 HP, promoting solar energy adoption. Further, 5 lakh hectares will be brought under natural farming over four years, with AI integration through tools like MahaVistar chatbot for crop advice and market info.

Welfare schemes remain a cornerstone, with the popular Mukhyamantri Majhi Ladki Bahin Yojana continuing to provide financial aid to women, backed by ample provisions. The Lakhpati Didi program will expand to help 25 lakh more women earn Rs 1 lakh annually via self-help groups. Health initiatives include Rs 4,500 crore for rural check-up camps targeting cancer, diabetes, and heart disease, plus a new Maharashtra Institute of Public Health in Nagpur.

Infrastructure receives a massive push, with plans for over 1,200 km of metro lines and 6,000 km of expressways by 2047. Key Mumbai projects include the fully underground Metro Line 11 from Wadala to Gateway (Rs 23,487 crore), Metro Line 8 linking airports (Rs 22,862 crore), and the Bandra-Versova coastal road by 2028. The Vadhavan Port is set to create 12 lakh jobs, while a third Mumbai region near Atal Setu aims to double the MMR's GDP to $300 billion. Tourism targets a jump from 16 crore to 38 crore visitors by 2047, with digital upgrades at 50 sites.

Tax reforms introduce concessions: 16% off motor vehicle tax for scrapping BS-4 vehicles and 30% for older ones, but environmental taxes on old private vehicles double—up to Rs 7,000 for diesel cars. The state plans to borrow Rs 1.29 lakh crore, pushing total debt beyond Rs 11 lakh crore.

Allies hailed the budget: Deputy CM Sunetra Pawar called it "visionary" for empowering women and farmers, while Eknath Shinde praised its alignment with national goals. Opposition leader Uddhav Thackeray criticized it as short-term, questioning job creation, AI implementation, and priorities like bullet trains over youth employment. Analysts note the budget's focus on inclusivity amid Maharashtra's push toward a $1 trillion economy.