New Delhi: The Mahayuti government’s election promises in Maharashtra, including a hike in the stipend for its flagship Mukhya Mantri Majhi Ladki Bahin Yojana from Rs 1,500 to Rs 2,100 per month, have been put on hold. Additionally, the government’s promise of a farm loan waiver, also mentioned in their poll manifesto, will have to wait.
After being re-elected last November, the Bharatiya Janata Party-led (BJP-led) government along with its alliance partners Shiv Sena (Shinde camp) and Nationalist Congress Party (Ajit Pawar faction) has presented its first budget on Monday (March 10), revealing a staggering debt projection of Rs 9.32 lakh crore, the highest in the state’s history. The budget also shows a significant revenue deficit of Rs 45,891 crore for the financial year 2025-26.
Notably, the government’s flagship scheme, Mukhya Mantri Majhi Ladki Bahin Yojana, has seen a significant reduction in allocation, with a decrease of Rs 10,000 crore compared to last year, Business Standard reported.
However, chief minister Devendra Fadnavis debunked report of budget cuts for the scheme. “We have not decreased the money for ‘Ladki Bahin’. Everyone will get their money. The budget has been structured as per the need, and if additional funds are required, we will make provisions for it. We will fulfill our promise of providing Rs 2,100 per month to our sisters,” Fadnavis said.
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With limited financial flexibility, the budget does not introduce any new major schemes. Instead, it focuses on sustaining existing programmes and managing debt and fiscal deficit within prescribed limits. The government has prioritised keeping its existing schemes going, rather than meeting its poll promise of hiking the stipend provided under Mukhya Mantri Majhi Ladki Bahin Yojana and providing farm loan waiver.
Some notable aspects of the budget include an increased district annual plan by 11% to Rs 20,165 crore – not surprising since the local body polls are scheduled to be held this year.
To generate additional revenue, the budget proposes new taxes on motor vehicles, expected to generate Rs 1,125 crore in revenue. There is also a hike in stamp duty on certain transactions.
Despite the significant debt projection, deputy chief minister Ajit Pawar – who handles the finance portfolio – emphasised that the debt and fiscal deficit are within fiscal limits, with the state’s fiscal deficit estimated at 2.76% of its GSDP.
