Maharashtra Budget 2025: Ajit Pawar Announces To Cut Electricity Tariffs

Maharashtra's Deputy Chief Minister and Finance Minister Ajit Pawar on Monday presented Maharashtra' budget for 2025-26. AjiPawar started the presentation by thanking Prime Minister Narendra Modi for his unwavering support to the state. He attributed the government's success to the Ladki Bahin scheme, which played a vital role in securing public trust and establishing the Mahayuti government firmly in power.

The budget highlighted Maharashtra's continued leadership in foreign direct investment (FDI), maintaining its status as a significant investment hub. Ajit Pawar noted that private investments are on the rise, driven by increasing market demand and a robust development path.

Infrastructure and Connectivity Enhancements

Maharashtra plans to allocate Rs 64,000 crore for Mumbai infrastructure projects, including expanding the metro network to improve urban connectivity. A metro link connecting Navi Mumbai and Mumbai airports was also announced to enhance connectivity between these crucial locations.

In addition to metro expansion, new ferry services will connect Gateway of India to Mandwa, enhancing coastal transport options. The Vadhvan Port in Palghar district will receive a 26% contribution from the state for its development costs, with plans for a new airport by 2030.

Job Creation and Economic Growth

The state aims to create 50 lakh jobs over five years. In the next year alone, 1,500 km of new roads will be developed, while 7,000 km of existing roads will be upgraded to cement roads. Additionally, 99% of the Samruddhi Highway project is complete.

Maharashtra signed 56 Memorandums of Understanding (MOUs) with companies at Davos, setting the stage for future investments and economic growth. The new industrial policy aims for Rs 40 lakh crore in investment and creating five million jobs within five years.

Labour Laws and Industrial Policy

The state plans to introduce new labour laws aimed at enhancing efficiency and attracting more investments. A revamped industrial policy has been outlined to boost economic growth further and foster a conducive business environment.

Additional strategies for space and defense, electronics, gems and jewellery, and micro, small, and medium enterprises will be introduced alongside the industrial policy. New labour rules will align with the central government's labour code.

Environmental Initiatives

A Rs 8,400 crore project is underway for disaster management related to climate change and rising sea levels in coastal districts. The "Maharashtra Sustainable Environmental Coastal Protection and Management" project has been approved for various works in Sindhudurg district.

The Maharashtra State Electricity Distribution Company proposed fixed electricity tariffs for five years. This initiative is expected to save Rs 113,000 crore in electricity purchasing costs over this period.

Mumbai Metropolitan Region Development

Plans are underway to develop the Mumbai Metropolitan Region into an international-quality economic hub with trade centres in seven locations. The region's economy is projected to grow from $140 billion to $300 billion by 2030 and $1.5 trillion by 2047.