Maharashtra’s financial position was acknowledged to be under pressure due to increased expenditure on welfare schemes, yet the state’s overall economic stability was reaffirmed during discussions in the Legislative Assembly. Concerns raised by Opposition parties regarding fiscal collapse were dismissed, with it being stated that Maharashtra continues to meet all prescribed economic and fiscal benchmarks.
It was conveyed that while surplus funds are not currently available, borrowing and deficit levels remain well within the limits defined under the Reserve Bank of India and the Fiscal Responsibility and Budget Management framework. States are permitted to borrow up to 25 per cent of their Gross State Domestic Product, and Maharashtra’s borrowing was reported to be significantly below this threshold. Only a limited number of large states were noted to have debt levels under 20 per cent of GSDP, with Maharashtra included among them.
Despite extensive welfare spending on schemes supporting women and farmers, the fiscal deficit was maintained below the 3 per cent ceiling. Interest payments were acknowledged to have increased marginally, but fiscal discipline was stated to have been preserved. Capital expenditure was highlighted as exceeding benchmarks set by the Union Government, indicating a continued focus on long-term development rather than short-term consumption.
Maharashtra’s leadership in attracting foreign direct investment was underlined, with nearly one-third of the country’s total inflows being credited to the state. Investment agreements signed at international economic forums over recent years were reported to show high implementation rates. Additional proposals received under incentive schemes were said to be geographically dispersed, particularly benefiting historically underdeveloped regions such as Vidarbha and Marathwada.
Industrial expansion in electric vehicle manufacturing and the development of new industrial hubs were presented as evidence of balanced regional growth. Alongside this, major commitments in renewable energy, including pumped storage hydro projects and large-scale solar capacity for agriculture, were highlighted. These initiatives were projected to significantly reduce power costs and ensure long-term energy security.
Infrastructure projects, including expressways, industrial corridors, irrigation, and river-linking schemes, were defended as critical for economic resilience, even amid public opposition in certain areas. Agricultural relief measures, direct benefit transfers, and compensation for crop and livestock losses were detailed as part of ongoing farmer support. Political speculation regarding the separation of Mumbai from Maharashtra was categorically rejected, and the unity of the state was reaffirmed. The broader vision of transforming Maharashtra into India’s first one-trillion-dollar state economy by 2030 was reiterated, with a long-term development roadmap extending to 2047 being presented as the guiding framework for future growth.