Amid the widening gap between revenue and expenditure with constraints on resource mobilisation, Maharashtra Deputy Chief Minister and Finance Minister Ajit Pawar on Monday presented the budget for 2025-26 with an estimated revenue deficit of ₹45,892 crore and fiscal deficit of ₹1,36,000 crore. 
The finance minister has estimated a total expenditure of ₹7,00,020 crore with revenue receipts of ₹5,60,963 crore and revenue expenditure of ₹6,06,855 crore.
Ajit Pawar, however, has claimed that the government has been successful in keeping the fiscal deficit below 3% of gross state domestic income under the Fiscal Responsibility and Fiscal Management Act. Also, the state's revenue deficit has consistently less than 1% of gross state income.
He, however, has not announced a hike in the monthly financial aid to ₹2,100 from ₹1,500 to about 2.53 crore women beneficiaries under the flagship Ladki Bahin Yojana as promised in the poll manifesto. Since the launch of the scheme, the government has spent ₹33,232 crore. 
For 2025-26, the finance minister has allocated ₹36,000 crore with special plans to further encourage women groups to utilize the subsidy. Moreover, he has also not announced the farm loan waiver as promised in the poll manifesto.
He has proposed an amnesty scheme of the state Tax Department for the public sector undertaking companies to clear their arrears. The scheme is titled Maharashtra Settlement of Arrears of Tax, Interest, Penalty or Late Free Act 2025. It will be in force from the commencement of the Act till December 31, 2025.
The finance minister, in a bid to make up the revenue loss, has proposed various taxes which will generate additional revenue of ₹1,125 crore. He has proposed a one per cent increase in Motor Vehicle Tax on individual non-transport four-wheeled CNG and LPG vehicles. This will mobilize ₹150 crore.
He has proposed to levy motor vehicle tax at the rate of 6 per cent on electric vehicles priced above ₹30 lakh. The maximum limit of motor vehicle tax is proposed to increase from ₹20 lakh to ₹30 lakh. The proposed increase in the maximum limit of motor vehicle tax is expected to generate an additional revenue of around ₹170 crore.
He has also proposed to level motor vehicle tax compulsorily on a lump sum basis at the rate of 7% on the price of vehicles used for construction such as cranes, compressors, projectors and excavators. It will mobilise an additional revenue of ₹180 crore.
Further, the finance minister has proposed to levy motor vehicle tax compulsorily on a lump sum basis at the rate of 7% on the price of Light Goods Vehicles carrying goods up to 7,500 kg in the state. It will generate additional revenue of ₹625 crore.
He has proposed to increase the stamp duty from ₹100 to ₹500 on supplementary documents if more than one document is used to complete the same transaction. He has also proposed to increase the adjudication fee payable on a document under section 3(1) of the Maharashtra Stamp Act from ₹100 to ₹1,000 for the chargeability of the instrument and to make a provision for depositing the amount of stamp duty primarily payable while filing the executed document.
He has proposed a new provision for e-stamp certificates to facilitate the citizens to pay stamp duty and issue certificates online.
It was the first budget of the MahaYuti government after its landslide victory in the state Assembly election and it was Ajit Pawar&rsquo;s 11th budget as the state finance minister.
He has allocated ₹1,90,242 crore for annual outlay, ₹22,568 crore for scheduled caste component programme, ₹21,495 crore for tribal component programme and ₹20,165 crore for district development plans. The finance minister has made an allocation of ₹1,90,242 crore for various departments.
The finance minister has crafted his budget with a tagline of Viksit Bharat Viksit Maharashtra saying that a blueprint for the state&rsquo;s sustainable and inclusive development has been prepared by making allocations for the development of agriculture, irrigation, infrastructure, industry and social sectors.
The finance minister had estimated the state&rsquo;s own tax revenue of ₹3,43,040 crore in 2024-25 but it has been revised to ₹3,67,467 crore in 2024-25. The budget estimate for the state&rsquo;s own tax revenue for the year 2025-26 is estimated at ₹3,87,674 crore.
The budget includes a Higher Economic Growth Rate driven by the right reform- oriented policies and capex which has a higher fiscal multiplier.
Key Highlights:
₹36,000 Cr for Ladki Bahin Yojana&ndash; No hike in financial aid, but special initiatives to empower women&rsquo;s groups.
New Taxes to Boost Revenue by ₹1,125 Cr &ndash; Increase in motor vehicle tax on luxury EVs, CNG/LPG vehicles, and construction equipment.
Fiscal Deficit at ₹1.36 Lakh Cr | Revenue Deficit at ₹45,892 Cr &ndash; Government aims to maintain fiscal discipline under FRBM norms.
₹15,000 Cr for Rural Housing- Target to build 20 lakh homes under the scheme.
₹1.9 Lakh Cr Allocated for Key Sectors- Investments in infrastructure, agriculture, industry, and social welfare.
Stronger Support for Farmers&ndash; Agriculture growth estimated at 8.7% this year, up from 3.3% last year, with more focus on solar energy and irrigation.
Education &amp; Healthcare Boost &ndash; Increased funding for implementing NEP, improving girls&rsquo; participation in professional education, and ensuring better healthcare access within 5 km of every citizen.
Major Push for Infrastructure &amp; Transport &ndash; Highways, railways, metros, ports, and rural roads to get maximum support.
Cultural &amp; Sports Development &ndash; More funds for Sambhaji Maharaj projects, aquatic tourism, and sports infrastructure.
Digital Transformation in Governance &ndash; Smart PDS, blockchain-based food supply systems, and asset monetization strategies for financial sustainability.
Legal Infrastructure - Support to courts&rsquo; infrastructure in the state for speedier disposal of legal cases.
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(L to R) Former CM Eknath Shinde, Chief Minister Devendra Fadnavis & Finance Minister Ajit Pawar

Finance Minister Ajit Pawar allocated ₹36K Cr to Ladki Bahin Yojana, introduced new taxes for revenue

What was Presented in Maha Budget 2025-26?

Finance Minister Ajit Pawar allocated ₹36K Cr to Ladki Bahin Yojana, introduced new taxes for revenue

March 10, 2025 | 20:00 IST