Chief Minister Devendra Fadnavis presented
the Maharashtra Budget for 2026–27
Chief Minister Devendra Fadnavis presented the
Maharashtra Budget for 2026–27. In addition to serving as the State's Chief
Minister, he also holds the portfolio of the Finance Department. The most
significant announcement in this budget is a farm loan waiver of up to ₹2 lakh
for farmers, which will be implemented under the "Punyashlok Ahilyabai
Holkar Farmer Loan Waiver Scheme." Furthermore, the budget places special
emphasis on infrastructure, agricultural modernization, renewable energy,
tourism, and job creation.
Announcement of Farm Loan Waiver
¨
The most significant
announcement in the Maharashtra Budget 2026 is the farm loan waiver scheme.
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Agricultural loans of up
to ₹2 lakh will be waived.
¨
This benefit will apply
to loans availed prior to September 3, 2025.
¨
The scheme has been named
the "Punyashlok Ahilyabai Holkar Farmer Loan Waiver Scheme."
¨
Approximately 28 to 30
lakh farmers are expected to benefit from this initiative.
¨
Farmers who have been
regularly repaying their loans will receive an incentive amount of ₹50,000.
¨
To ensure that the
benefits reach the intended farmers, the government has also introduced a
'Farmer ID' system under the 'Agristack' initiative.
Focus on Agriculture and Rural Development
¨
The Maharashtra Budget
2026 places special emphasis on strengthening the agricultural and rural
economy.
¨
The target is to expand
the State's agricultural economy from its current value of $55 billion to $500
billion.
¨
Under the Natural Farming
Mission, 5 lakh hectares of land will be brought under natural farming
practices.
To assist farmers, an AI-based chatbot
named 'Mahavistar' will be launched, providing them with facilities such as:
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Weather updates
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Information on crop
diseases
¨
Market rates
Tribal languages will also be incorporated into this
system.Additionally, new schemes will be introduced to strengthen the animal
husbandry and fisheries sectors.
Infrastructure and Urban Development
Schemes
¨
Infrastructure
development has been accorded top priority in the Maharashtra Budget 2026–27.
Under this scheme, over 1,000 kilometers of metro lines and 6,000 kilometers of
two-lane highways will be developed across the state.
¨
Additionally, all
villages in Maharashtra with a population exceeding 1,000 will be connected via
concrete roads. A signal-free traffic corridor connecting Sewri to the Coastal
Road in Mumbai is expected to be ready by September 2026. To facilitate the
expansion of the metropolitan region, the government plans to develop new
growth zones such as 'Mumbai 3.0' and 'Mumbai 4.0'.
¨
Furthermore, a startup
and innovation hub will be established in Wadala, thereby generating new
opportunities for entrepreneurship and employment.
Renewable Energy, Tourism, and Industry
¨ The Maharashtra Budget for 2026–27 incorporates several key initiatives aimed at boosting renewable energy, tourism, and industrial development. Approximately ₹20,000 crore has been allocated for solar power projects specifically for farmers. In addition, subsidies will be provided for the installation of rooftop solar panels under various housing schemes.To bolster the tourism sector, the Maharashtra government has set a target to increase the annual number of tourists visiting the state from 16 crore to 38 crore.
¨ Moreover, under the Global Capability Centers Policy, there are plans to establish 400 centers and create approximately 4 lakh jobs. Meanwhile, through the Bamboo Industry Policy, the objective is to attract investments worth nearly ₹50,000 crore and generate 5 lakh jobs.
