Maharashtra Chief Minister Devendra Fadnavis with Deputy CMs Eknath Shinde and Ajit Pawar.
Credit: PTI Photo
Mumbai: Notwithstanding financial constraints and debts crossing a whopping Rs 8 lakh crore, the Maha Yuti-NDA dispensation in Maharashtra will table its first Budget on Monday after the landslide victory in the 2024 Vidhan Sabha polls, which is expected be a sort of return gift to the people of the state.
The Devendra Fadnavis-headed BJP-led government will have to do a lot of balancing as it presents the Budget 2025-26. While facing a challenging task of continuing populist schemes and focusing on social development, irrigation, agriculture, and infrastructure, scaling up the Mukhya Mantra Ladki Bahin Yojana — launched in 2024 — with a bigger outlay and continuing, other populist schemes will be a major challenge for the new MahaYuti-NDA government.
For Fadnavis and two Deputy CMs, Eknath Shinde and Ajit Pawar, who is also the state’s Finance and Planning Minister, the scheme is close to their heart.
Under the Ladki Bahin Yojana, a cash-benefit scheme, eligible girls/women aged between 21-65, with an annual family income of less than Rs 2.5 lakh, are being given Rs 1,500 per month. However, it is expected to be enhanced to Rs 2,100 per month, as part of a pre-poll promise.
Under this scheme, Rs 17,505.90 crore in financial assistance was provided to 2.38 crore beneficiary women up to December 2024.
The key objective of the scheme is to promote rehabilitation, economic development, and empowerment of women/girls in the 21-65 age group.
The scheme is expected to cost the exchequer Rs 33,300 crore from July 2024, when it was launched, to March 2025, the end of the financial year. In their first financial document after returning to power, the Fadnavis-Shinde-Pawar dispensation is expected to come up with some surprises.
The Budget comes in the run-up to the polls for local bodies, including those of big corporations like Mumbai, Thane, Pune, Pimpri-Chinchwad, Nashik, Aurangabad, Nagpur, and Amravati, which are expected to be held in 2023. These elections would involve over 60 per cent of the state’s population and will serve as a sort of mini-Assembly poll.
Fadnavis has given a major boost to the state's industries, with Maharashtra signing MoUs to the tune of Rs 15.70 lakh crore during the World Economic Forum at Davos.
According to the Economic Survey of Maharashtra 2024-25, the debt stock currently stands at Rs 7,82,991 crore (budget estimates), while the interest due is Rs 56,727 crore.
As per the Budget estimates of 2024-25 (BE), the debt stock of the state is expected to increase by 10.1 per cent over the previous year.
However, its percentage to the GSDP (17.3 per cent) is expected to be well within the prescribed limit (25.0 per cent of GSDP) as per the Maharashtra Fiscal Management and Budget Management Rules, 2006.
As per the advance estimates of 2024-25, the state economy is expected to grow at 7.3 per cent over 2023-24, whereas the Indian economy is expected to grow at 6.5 per cent.