Fadnavis presents ₹7.69 lakh crore Maharashtra Budget, mortgage waiver for farmers

Maharashtra Chief Minister Devendra Fadnavis on Friday (March 6, 2026) introduced the State funds for 2026-27, unveiling a ₹7.69 lakh crore roadmap that features a crop mortgage waiver of as much as ₹2 lakh for farmers with arrears until September 30, 2025. “Approximately 28-30 lakh farmers will benefit from the loan waiver. Additionally, 20 lakh farmers who have been repaying their instalments regularly will receive ₹50,000 under the ‘Punyashlok Ahilyadevi Holkar Shetkari Karjmafi Yojana’,” stated Mr. Fadnavis.

The Budget additionally proposes a ninefold development of the agricultural financial system, aiming to lift the sector’s GDP from $55 billion to $500 billion by 2047. The State’s income receipts are estimated at round ₹6.56 lakh crore, leading to a income deficit of about ₹40,500 crore.

The whole Budget outlay works out to roughly 14.21% of the estimated Gross State Domestic Product of ₹54.13 lakh crore for 2026-27.

The State authorities allotted ₹24,231.28 crore to girls and baby growth, down from about ₹31,000 crore final 12 months. While the allocation for the ‘Ladki Bahin’ scheme has fallen, Mr. Fadnavis assured that the scheme will proceed.Criticising the allocations, Shiv Sena (UBT) chief Uddhav Thackeray alleged that the State authorities has made the Budget “contractor-friendly”. “They were supposed to increase the ‘Ladki Bahin’ instalments. What happened to that?” he requested. In response, Deputy CM Eknath Shinde stated, “Earlier, we had assured that the loan waiver would be announced at the right time, and now it has been included in the Budget. We have also kept our promise of not shutting down the Ladki Bahin Yojana.”

Generating extra jobs

Mr. Fadnavis unveiled the Maharashtra Global Competence Centre Policy, which goals to ascertain 400 new competency centres and generate 4 lakh job alternatives. He introduced the event of a mining freeway community and plans to make Gadchiroli the brand new metal hub, with an funding of ₹262,000 crore anticipated to create over 70,000 jobs in massive and super-large metal industries.