Mumbai: On Monday, March 10, 2025, Ajit Pawar, the Finance Minister and Deputy Chief Minister of Maharashtra, announced the commencement of the Technical Textile Mission while presenting the state budget for 2025–2026.
The purpose is to establish Maharashtra as a leader in sophisticated textile manufacturing by increasing the production of textiles that serve a variety of industries, such as the automotive, healthcare, and defence sectors.
However, there is nothing in the Maharashtra budget for 2025–2026 for the current Powerloom Sector. After Gujarat, Maharashtra is home to India’s second-largest textile cluster.
Additionally, Ajit Pawar declared that a new Industrial Policy 2025 would be unveiled. The New Industrial Policy aims to attract four times as many investments as the previous policy (2019-2024) did, with a target of 40 lakh crore over the following five years. In his budget statement on Monday, Pawar stated that the goal of the program is to create 50 lakh jobs.
Budget for Maharashtra in 2025–2026 Highlight
- On Monday, Ajit Pawar delivered his eleventh budget as Finance Minister to the Mahrashtra Assembly.
- In his budget address, Ajit Pawar declared that the education budget would be increased from the current 14,248.02 crore rupees to INR 16,261 crore for 2025–2026.
- Pawar also unveiled the plan for Mumbai’s third airport, which would be built close to Vadhvan Port and should be operational by 2030.
- Pawar declared that next month, domestic flights will begin at the Navi Mumbai International Airport in Panvel. According to him, effective trial runs have been carried out and 85% of the Panvel Airport’s work has already been finished.
- Pawar added that the future Navi Mumbai International Airport will be connected to Chhatrapati Shivaji Maharaj International Airport (Sahar Airport) by the Mumbai Metro.
- Pawar further said that in commemoration of Chhatrapati Shivaji, the Maharashtra government would erect a memorial in Agra.
- By launching the “Maitri” platform, the Maharashtra government is also attempting to simplify industrial licensing. According to Pawar, the goal of this digital platform is to streamline the process of awarding industrial licenses, guaranteeing a more open and effective strategy for industrial expansion.
- Ajit Pawar declared that for the first 100 days of the ₹15.65 lakh crore investment in the upcoming years, the State has created a seven-point action plan.
- Presenting the Economic Survey of Maharashtra, Pawar stated that the state’s GDP is anticipated to expand by 7.3% in 2024–2025.
- Devendra Fadnavis, the chief minister of Maharashtra, announced Monday that his government would prioritise the “Lakhpati Didi” program in order to guarantee the creation of one crore beneficiaries.
- The goal of the development of the Mumbai Metropolitan Region (MMR) as a growth hub is to increase the GDP from $140 billion to $300 billion. According to Ajit Pawar, Gadchiroli will be transformed into a steel hub with transport developments worth up to Rs 500 crore.
- For electric vehicles costing more than Rs. 30 lakhs, the Maharashtra government proposed to impose a 6% motor vehicle tax. Additionally, the Maharashtra government declared its intention to raise the motor vehicle tax rate by 1%.
- Fadnavis stated that they are working on the issue of providing eligible women with an additional Rs 2,100 payout under the Ladki Bahin Yojana, but that it will take some time for the payout to be implemented.