Rs 64000 crores for Infrastructure projects and Metro Expansion
Maharashtra’s Deputy Chief Minister and Finance Minister, Ajit Pawar, kicked off the budget presentation for the fiscal year 2025-26 with a note of gratitude to Prime Minister Narendra Modi for his unwavering support. Pawar credited the government’s victory to the success of the Ladki Bahin (Beloved Sisters) scheme, which garnered strong public support and helped the newly-formed Mahayuti government solidify its position in the state.
Here are the key highlights from the budget:
- Private Investment Surge
Pawar emphasized the rising tide of private investments in Maharashtra, driven by growing market demand and the state’s strong economic trajectory. Maharashtra continues to dominate the nation in foreign direct investment (FDI), reinforcing its status as a prime investment hub.
- Revolutionizing Labour Laws and Industrial Policy
The state will introduce new labour laws aimed at improving efficiency and attracting more investments. A revamped industrial policy will stimulate economic growth and create a more favorable business environment.
- Mega Metro and Mumbai Infrastructure Expansion
A whopping Rs 64,000 crore will be allocated to infrastructure projects in Mumbai, with a special focus on expanding the metro network to enhance urban connectivity.
- New Metro Link to Boost Connectivity
Plans were unveiled for a new metro link connecting Navi Mumbai with Mumbai airports, aimed at significantly improving connectivity between two major hubs.
- Massive Jobs Push and Road Infrastructure
Maharashtra targets the creation of 50 lakh jobs over the next five years. In addition, 1,500 km of new roads will be constructed, and 7,000 km of existing roads will be upgraded to cement roads. The Samruddhi Highway project is nearly complete, with 99% of the work finished.
- New Ferry Service for Coastal Transport
Maharashtra will introduce new ferry services connecting Gateway of India to Mandwa, bolstering coastal transport options.
- Vadhvan Port Development to Accelerate Trade
The Vadhvan Port in Palghar district will receive a 26% contribution from the state towards its development cost. Furthermore, plans for a new airport at the port, expected to begin operations by 2030, were also revealed.
- Logistics Infrastructure Boost and Mumbai’s Growth
The state will prioritize the development of logistics infrastructure across 10,000 hectares, aiming to position Mumbai as a key growth hub with new trade centres to enhance commercial activities.
- Major MOUs Signed at Davos for Future Investments
Maharashtra signed 56 Memorandums of Understanding (MOUs) at the prestigious Davos forum, paving the way for future investments and robust economic growth.
- New Industrial Policy for Economic Powerhouse
A new industrial policy will soon be unveiled, targeting Rs 40 lakh crore in investments and the creation of 5 million jobs within five years. Alongside this, strategies for industries like space, defence, electronics, gems and jewelry, and MSMEs will be introduced. New labour rules will also be in line with the central government’s updated labour code.
