Maharashtra’s Deputy Chief Minister Ajit Pawar has unveiled the state budget for 2025-26, marking the first budget under the Devendra Fadnavis-led Mahayuti government. The budget emphasizes infrastructure expansion, economic growth, and job creation. Key highlights include:
- Proposal for Mumbai’s third airport near Vadhvan Port.
- Plans for 1,500 km of new roads and 7,000 km upgrades.
Infrastructure Development Takes Center Stage
The newly presented budget outlines ambitious plans to enhance Maharashtra’s infrastructure. A key highlight is the proposal for Mumbai’s third airport, situated near Vadhvan Port, which is anticipated to be operational by 2030. This initiative aims to bolster Mumbai’s status as a global aviation hub. Deputy Chief Minister Ajit Pawar highlighted that the government is also set to kick off domestic operations at Navi Mumbai International Airport next month, with 85% of construction already completed. Successful trial runs have been conducted, indicating readiness for launch.
Moreover, to facilitate smoother transportation, the Mumbai Metro will connect Chhatrapati Shivaji Maharaj International Airport with the new Navi Mumbai International Airport. In a move to further enhance connectivity, the budget includes plans to develop 1,500 kilometers of new roads and upgrade 7,000 kilometers of existing roads to cemented surfaces. These initiatives are expected to significantly improve travel efficiency and accessibility throughout the state.
As Pawar stated, “Robust infrastructure is the backbone of economic growth, and we are committed to making Maharashtra a leader in this domain.”
Economic Growth and Job Creation Initiatives
The Maharashtra government is setting ambitious economic targets, aiming to elevate Mumbai’s economy from $140 billion to an impressive $300 billion. This transformation is part of a larger vision to develop the Mumbai Metropolitan Region into a major growth hub, targeting a $1.5 trillion economy by 2047. The government plans to create five million new jobs over the next five years, supported by memorandums of understanding (MoUs) worth Rs 15.72 trillion signed with 56 companies at the World Economic Forum in Davos.
In addition to these economic objectives, the budget introduces a new health and senior citizens policy, reflecting a holistic approach to development. Pawar emphasized the state’s commitment to being a top destination for foreign direct investment (FDI), which is critical in achieving these economic goals. “Maharashtra remains a front-runner in attracting global investments, and we intend to solidify this position,” he added.
Innovation in Textiles and Industrial Licensing
Another significant initiative introduced in the budget is the launch of Maharashtra’s Technical Textile Mission. This mission is designed to enhance textile production that cater across diverse industries such as automotive, healthcare, and defense, aiming to position Maharashtra as a leader in advanced textile manufacturing. Such innovation can potentially open new avenues for economic growth and job creation.
The Maharashtra government is also taking steps to streamline industrial licensing through the introduction of the ‘Maitri’ portal. This digital platform aims to simplify the process of granting industrial licenses, ensuring a more transparent and efficient approach to industrial growth. As noted by industry expert Rajesh Kulkarni, “The ease of doing business is vital for attracting investments, and the Maitri portal is a significant step in that direction.”
In summary, the Maharashtra budget for 2025-26 underscores a strong commitment to infrastructure development, economic growth, and job creation. With ambitious targets set for the coming years, the government is positioning itself as a formidable player in the national economic landscape. As Ajit Pawar concluded, “We are laying the groundwork for a prosperous future, ensuring that Maharashtra leads in innovation and growth.”
