Maharashtra Deputy Chief Minister Ajit Pawar, who also holds the finance portfolio, presented the state’s budget for 2025-26 in the Assembly which was the first budget under the Devendra Fadnavis-led Mahayuti government that prioritised infrastructure expansion, economic growth, and job creation.
One of the major announcements in the budget was the proposal for Mumbai’s third airport near Vadhvan Port, which is expected to be operational by 2030. Pawar also announced that domestic operations at the Navi Mumbai International Airport will begin next month, with 85 per cent of the work already completed and successful trial runs conducted.
The Mumbai Metro will connect Chhatrapati Shivaji Maharaj International Airport with the new Navi Mumbai International Airport, The government is also planning to develop 1,500 km of new roads and upgrade 7,000 km of existing roads to cemented roads. Shirdi Airport, a key hub for pilgrims, will soon have a night landing facility to improve accessibility.
Pawar stated that Mumbai’s economy is projected to grow from $140 billion to $300 billion, and the Mumbai Metropolitan Region is being developed as a major growth hub, with a vision of reaching a $1.5 trillion economy by 2047. The Maharashtra government aims to generate five million new jobs over the next five years, supported by memorandums of understanding (MoUs) worth Rs 15.72 trillion signed with 56 companies at the World Economic Forum in Davos.
The budget also included plans for a new health and senior citizens policy. Pawar emphasised that the state remains at the forefront of foreign direct investment (FDI) inflows, reinforcing its position as a top destination for global investors.
Another significant initiative introduced in the budget is the launch of Maharashtra’s Technical Textile Mission. The mission aims to enhance the production of textiles that cater to diverse industries, including automotive, healthcare, and defense, positioning Maharashtra as a leader in advanced textile manufacturing.
The Maharashtra government is also working to streamline industrial licensing through the introduction of the ‘Maitri’ portal. This digital platform aims to simplify granting industrial licenses, ensuring a more transparent and efficient approach to industrial growth.
