In the Maharashtra Budget 2025-26, Deputy Chief Minister and Finance Minister Ajit Pawar announced the launch of a Technical Textile Mission, aimed at bolstering Maharashtra’s position in advanced textile manufacturing. This mission will focus on the production of textiles that serve sectors like automotive, healthcare, and defense, positioning the state as a leader in technical textiles.
Despite Maharashtra housing India’s second-largest textile cluster after Gujarat, there were no announcements made for the existing powerloom sector in this budget. However, Pawar unveiled an ambitious New Industrial Policy 2025, targeting investments worth ₹40 lakh crore over five years, aimed at generating 50 lakh jobs. The policy seeks to attract four times the investments compared to the previous policy.
Key highlights of the Maharashtra Budget 2025-26 include:
- Education: A significant increase in the education budget from ₹14,248 crore to ₹16,261 crore for 2025-26.
- Aviation: Proposal for Mumbai’s 3rd airport near Vadhvan Port, operational by 2030, and domestic operations at the Navi Mumbai International Airport set to start next month.
- Mumbai Metro: The metro will connect Chhatrapati Shivaji Maharaj International Airport with the Navi Mumbai International Airport.
- Shivaji Memorial: Plans to build a memorial for Chhatrapati Shivaji in Agra.
- Industrial Licensing: The introduction of the Maitri portal to streamline industrial licensing processes, ensuring a transparent and efficient system.
- Economic Growth: Maharashtra’s economy is expected to grow by 7.3% in 2024-25, according to the advance estimates.
- Mumbai Metropolitan Region (MMR): Development of MMR as a growth hub, with the aim of boosting the GDP from $140 billion to $300 billion.
- Gadchiroli Development: Investment of ₹500 crore in transportation projects, with the goal of developing Gadchiroli as a steel hub.
- Motor Vehicle Tax: A proposed 6% tax on electric vehicles priced above ₹30 lakh and a 1% hike in motor vehicle tax rates.
- Ladki Bahin Yojana: The government is working on increasing the payout to ₹2,100 under this scheme for eligible women, though the higher payout will take time to come into effect.
