CM Fadnavis presents Maharashtra Budget 2026; here are key highlights

Chief Minister Devendra Fadnavis presented the Maharashtra Budget 2026 on FridayFadnavis presented the budget on Friday after the death of Ajit Pawar in a plane crash on January 28In the absence of the finance minister the responsibility of presenting the budget has been taken over by the chief ministerThe Maharashtra government has projected an increase in its state tax revenue for the upcoming financial year According to the revised estimates for 202526 the statersquos tax revenue stands at Rs 409593 croreFor the financial year 202627 the government has set the budget estimate for statersquos own tax revenue at Rs 415653 croreThe budget outlines the governmentrsquos revenue and expenditure plans for the upcoming financial year and focuses on key areasThe Maharashtra government has projected an increase in revenue receipts and overall expenditure in the Budget Estimate BE for 202627 compared to the previous financial yearAccording to the budget figures revenue receipts are estimated at Rs 616099 crore for 202627 up from the revised estimate of Rs 601489 crore for 202526 In the 202526 budget estimate revenue receipts were pegged at Rs 560963 croreBudget at a glanceDetails2025ndash26 Budget Estimate BE2025ndash26 Revised Estimate RE2026ndash27 Budget Estimate BERevenue ReceiptsRs 560963 croreRs 601489Rs 616099Revenue ExpenditureRs 606855 croreRs 638544Rs 656651Revenue DeficitRs 45892 croreRs 37055Rs 40552Total ExpenditureRs 700020 croreRs 755920Rs 769467Fiscal DeficitRs 136234 croreRs 151536Rs 150491Key highlights of the budget The MumbaiPune Global Capability Centre GCC corridor is rapidly emerging as one of Indiarsquos most preferred destinations for global companies to set up technology innovation and backoffice hubs The state government has formed a committee to examine the farm loan waiver promised during the election campaign and announced that eligible farmers up to September 30 2025 will receive a loan waiver of up to Rs 2 lakh On the occasion of International Womens Day on March 8 mentioned that the Mukhyamantri Ladki Bahin Yojana will continue with ample budgetary provision made for the scheme The state aims to increase tourist footfall from 16 crore to 38 crore by 2047 while making the entire travel and tourism experience 100 percent digital A memorial Smarak and an award in the name of Ajit Pawar have been proposed to recognise his contributions to Maharashtrarsquos politics Out of the 12 Jyotirlingas in India five located in Maharashtra will be developed as major religious tourism destinations The ThaneBorivali connectivity project in Mumbai is expected to be completed by June 2028 significantly reducing travel time between the eastern and western suburbs Villages with a population of more than 1000 will be connected with concrete roads to improve rural connectivity and infrastructure An estimated farm loan waiver scheme in the state is approximately Rs 35000 croreUnder the scheme farmers may receive a loan waiver of up to Rs 2 lakh while those who have been regularly repaying their crop loan instalments could be given an incentive of Rs 50000 he said Land acquisition for the greenfield airport in Gadchiroli has begun Night landing facilities will be introduced at the airport in Latur Airports in Shirdi Nashik and Ratnagiri will be expanded to improve air connectivity Old vehicle having BS4 and above emission norms and purchasing new vehicles 16 per cent concession in motor vehicle tax while scrapping old vehicles having BS 3 and below emission norms and pruchaisng new vehicle 30 percent concession in motor vehicle tax Non transport private vehicles having BS4 and below emission norms cause more air pollution hence it is proposed to double the environment taxThe state has proposed an increase in the environmental tax on private vehicles with BSIV and below emission norms As per the proposal the tax on twowheelers will be increased from Rs 2000 to Rs 4000 For light motor vehicles petrol in the nontransport category the environmental tax is proposed to rise from Rs 3000 to Rs 6000 while for light motor vehicles diesel it will increase from Rs 3000 to Rs 7000 The move is aimed at discouraging the use of older more polluting vehicles and improving environmental standards in the state Maharashtra Stamp Duty Act Penal provision increased from Rs 5000 to up to Rs 1 lakh