Maharashtra Budget Highlights: Ajit Pawar Announces New Industrial Policy, Major Infra Push

Maharashtra’s Deputy Chief Minister Ajit Pawar, who also holds the finance portfolio, presented his 11th state budget in the Maharashtra legislative assembly on Monday. He announced a new industrial policy that aims to attract Rs 40 lakh crore in investments and creating 50 lakh jobs. He said the Mumbai Metropolitan Region will be developed as a major growth hub, with a target to become a $1.5 trillion economy by 2047. 

Here are the key highlights from his budget speech:

1. 50 Lakh Jobs Target

Ajit Pawar announced a new industrial policy with an investment target of Rs 40 lakh crore and generation of 50 lakh jobs. He added that the Mumbai Metropolitan Region will be developed into a $1.5 trillion economy by 2047.

2. Tax On CNG, EVs Hiked

Motor vehicle tax on CNG cars will rise by 1% across slabs, with effect from April 1. Also, electric vehicles priced above Rs 30 lakh will be taxed at 6%. The hike is expected to generate Rs 150 crore in the financial year 2026. Maharashtra accounts for 15% of India’s electric car sales, with 15,044 EVs sold in 2024 and over 2 lakh CNG cars sold in the current financial year.

3. Third Airport for Mumbai, Night Landing at Shirdi Airport

A third airport for Mumbai is proposed near Vadhavan Port along the Mumbai-Ahmedabad bullet train route. The government also allocated Rs 1,367 crore for Shirdi Airport, with a night landing facility planned soon.

4. Rs 36,000 Crore Allocated for Ladki Bahin Scheme

The state has allocated Rs 36,000 crore for the Ladki Bahin scheme for women empowerment. However, no hike in allowance from Rs 1,500 to Rs 2,100, as promised earlier, was announced.

5. Major Metro Expansion in Mumbai, Pune and Nagpur

New metro routes covering 64.4 km (41.2 km in Mumbai, 23.2 km in Pune) will be launched soon, as per the budget. Over the next five years, 237.5 km of metro lines will be operational. Currently, 143.57 km of metro lines serve around 10 lakh daily commuters. Nagpur Metro Phase 2, covering 43.8 km, is under construction at a cost of Rs 76,708 crore.

6. Mumbai-Pune Expressway Missing Link

The missing link on Mumbai-Pune Expressway will be completed by August 2025 to reduce travel time, save fuel, and ease congestion. Additional metro and road projects for Mumbai announced in the budget include Versova to Madh Bay Bridge, Versova to Bhayander Coastal Road, Mulund to Goregaon, and Thane to Borivali, with an estimated expenditure of Rs 64,783 crore.

7. Uttan-Virar Elevated Road, Other Mega Road Projects

A 55-km elevated road from Uttan to Virar, worth Rs 87,427 crore, will be undertaken. Other key road projects include the Swatantrya Veer Savarkar Sea Link, also known as Versova–Bandra Sea Link (Rs 18,120 crore) and Sewri-Worli Unnat Road (Rs 1,051 crore), with completion targeted by 2028 and 2026, respectively.

8. Metro Work In Thane And Pune

The Centre has approved Thane Circular Metro Line and Pune’s Swargate to Katraj Extension. A proposal worth Rs 9,897 crore has been sent for Pune Metro Phase II routes connecting Khadakwasla, Swargate, Hadapsar, Kharadi, Nalstop, Warje, and Manik Bagh. Airport metro connectivity to CSMIA and Navi Mumbai Airport will also be developed.

9. Seven International Trade Centres, Innovation City in Navi Mumbai

Seven international standard trade centres will be set up in Mumbai and Navi Mumbai, including areas like BKC, Kharghar, Kurla, and Virar-Boisar, aiming to boost Mumbai’s economy from $14 billion to $300 billion by 2030. An 'Innovation City' will also be built on 250 acres in Navi Mumbai, and 10,000 women are being trained in AI and skills through Microsoft and Ratan Tata State Skill University.

10. Marathi Language Honour Day

October 3 will be celebrated as Marathi Language Honour Day, and October 3 to 9 as Marathi Language Elite Week. The government has also proposed Rs 225 crore for the Marathi Language Department to promote the language and culture.