Mumbai: Chief Minister Devendra Fadnavis presented the Maharashtra Budget 2026–27 in the state Assembly on Friday, unveiling a wide-ranging plan centred on farmer relief, large-scale infrastructure development, affordable housing, and continued welfare programmes all underpinned by an ambitious long-term economic target for the state.
Presenting the budget, Fadnavis stated that the government’s priority is to strengthen rural livelihoods while simultaneously accelerating urban development projects across Maharashtra.
Farm Loan Waiver and Incentives for Responsible Borrowers
In one of the most significant announcements of the budget, the government declared a farm loan waiver of up to Rs 2 lakh, designed to ease the debt burden on struggling farmers. Alongside this, the state also announced incentives of up to Rs 50,000 for farmers who maintain a consistent record of repaying their crop loans on time a measure aimed at promoting financial discipline within the agricultural sector.
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Ladki Bahin Scheme Continues, No Hike in Monthly Assistance
The budget reaffirmed the continuation of the Mukhyamantri Majhi Ladki Bahin Yojana, the flagship welfare scheme that provides monthly financial assistance to eligible women between the ages of 21 and 65 belonging to low-income families. However, no increase in the monthly assistance amount was announced for the current year.
Mumbai Infrastructure: Sea Links, Metro, and Connectors
Infrastructure development featured prominently in the budget, with a particular emphasis on the Mumbai metropolitan region. The government outlined completion timelines for several major projects the Sewri–Worli connector is expected to be ready by September 2026, while the Bandra–Versova Sea Link has been targeted for completion by 2028. Expansion of the Mumbai Metro network was also highlighted as a key priority to ease urban commuting.
Housing: 20 Lakh Slum Homes to Be Redeveloped, 10 Lakh Affordable Units Planned
On the housing front, the state announced plans to redevelop nearly 20 lakh slum homes in Mumbai and construct 10 lakh affordable houses across Maharashtra. Additionally, the government proposed the development of a 130-acre startup and innovation hub in Wadala, intended to foster entrepreneurship and draw fresh investments into the state.
1,000 Villages to Get Concrete Roads
Rural infrastructure also received dedicated attention, with the government committing to connect 1,000 villages through concrete roads and further expand rural road networks across Maharashtra.
Vision 2047: Maharashtra Eyes $5-Trillion Economy
Framing a long-term economic roadmap, the state government set out its ambition to transform Maharashtra into a $5-trillion economy by the year 2047.