Maharashtra Budget 2026: State Eyes $5 Trillion Economy By 2047, Major Agriculture And Welfare Plans Announced

Chief Minister Devendra Fadnavis on Friday outlined an ambitious economic vision for Maharashtra during the 2026 Budget Session at Vidhan Bhavan, stating that the state aims to build a $5 trillion economy by 2047. Speaking in the Assembly while presenting the government’s roadmap, Fadnavis highlighted economic growth, infrastructure development, agricultural reforms and welfare initiatives planned for the coming years. The Chief Minister said Maharashtra would continue to remain the country’s financial powerhouse and play a leading role in India’s growth story. Alongside the economic roadmap, he also made several key announcements, including memorial projects, farmer initiatives, and administrative updates, while addressing legislators during the budget proceedings.

Also Read: Maharashtra Budget 2026 Dedicated to Ajit Pawar; Memorial Planned for Late Deputy CM, Says Fadnavis

• Tribute To Ajit Pawar During Budget Speech
  During his address in the 2026 Budget Session at Vidhan Bhavan, Chief Minister Devendra Fadnavis expressed deep sorrow over the passing of senior leader Ajit Pawar. He said the loss had left him emotionally shaken and described Pawar as one of Maharashtra’s most experienced administrators. Fadnavis noted that Pawar served as Deputy Chief Minister several times and played a crucial role in maintaining the state’s fiscal discipline. He highlighted that Pawar presented the state Budget for 11 years and ensured financial stability during his tenure. As a tribute to his contribution to governance and financial planning, the Chief Minister announced that the current Budget is dedicated to Pawar. He also confirmed that the government will construct a memorial in his honour.

• Balasaheb Thackeray Memorial Update Announced In Assembly
  Speaking during the budget proceedings, Chief Minister Devendra Fadnavis informed the Assembly that the first phase of the national memorial dedicated to Balasaheb Thackeray in Mumbai has been completed. The memorial, located in Dadar, is being developed as a major tribute to the Shiv Sena founder, popularly known as “Hinduhriday Samrat.” According to Fadnavis, the second and final phase of the project is expected to be completed by June 2026. Once the memorial is finished, the state government plans to launch a new scheme named after Thackeray. The Chief Minister said the initiative will aim to preserve the late leader’s legacy while introducing welfare or development programmes for citizens across the state.

• Raigad Lake Development To Honour Dr. B.R. Ambedkar
  During his address in the Assembly, Chief Minister Devendra Fadnavis also announced a development project linked to the legacy of B. R. Ambedkar. The government plans to develop Raigad Lake, which is associated with Ambedkar’s legacy, as part of initiatives marking his 100th birth anniversary. The Chief Minister said a comprehensive development plan will be prepared to upgrade the site while preserving its historical importance. The project will likely include infrastructure improvements, beautification work, and facilities for visitors. According to the government, the initiative aims to honour Ambedkar’s contribution to social justice and ensure that the site becomes an important educational and heritage destination for people visiting the region.

• Sixth Pay Commission Report To Be Tabled Next Session
  Chief Minister Devendra Fadnavis informed the Assembly during the budget discussions that the report of the state’s Sixth Pay Commission has been submitted on time. He said the report will now be forwarded to the Governor and is expected to be tabled in the next legislative session. The implementation of the commission’s recommendations could have a major impact on salaries and benefits of state government employees. Fadnavis also mentioned that recommendations made by the 16th Finance Commission will bring additional funds to Maharashtra. Thanking the Prime Minister for the support, he said the additional financial allocation would help the state accelerate development projects and strengthen its fiscal planning.

• Maharashtra Targets $5 Trillion Economy By 2047
  Highlighting the state’s long-term economic strategy during the 2026 Budget Session, Chief Minister Devendra Fadnavis said Maharashtra aims to achieve a $5 trillion economy by 2047. He described the state as India’s financial engine and said Maharashtra would contribute the largest share to the country’s economic growth in the coming decades. Emphasising ambition and determination, Fadnavis recited a couplet: “Jab irada bana liya hai unchi udaan ka, fir dekhna fizul hai sar asmaan ka,” suggesting that once a bold goal is set, no limit remains beyond reach. According to him, industrial expansion, infrastructure development, technological innovation and policy reforms will be crucial in achieving the target.

• AI-Driven Agriculture And Farmer Welfare Announcements
  Chief Minister Devendra Fadnavis also highlighted several agriculture-focused initiatives while speaking in the Assembly. He said the government will develop an integrated supply chain for around 14–15 crops to ensure that farmers’ produce reaches international markets efficiently. Artificial intelligence will be used through the Mahavistar AI platform to support agricultural planning, including the integration of tribal languages for better accessibility. Agricultural universities will help support agri-startups through data exchange initiatives. The Chief Minister also confirmed the implementation of the Agristack scheme, with more than one crore agriculture cards prepared for farmers. Additional initiatives include the Maharashtra Organic Farming Scheme and the inclusion of farm labourers under the Gopinath Munde scheme, along with rural road development under the CM Gram Sadak Yojana.