Mumbai, February 24 – Amidst pressure on the state's finances, Maharashtra Chief Minister Devendra Fadnavis, who holds the portfolios of planning and finance, presented supplementary demands worth Rs 11,995 crore for the remaining period of the 2025-26 fiscal on Tuesday.
Of the Rs 11,995 crore, the state government has allocated Rs 3,112.85 crore to cover expenses incurred due to concessions in electricity tariffs for agricultural pumps, power looms, and textile consumers in the state. Additionally, Rs 803.94 crore has been proposed as incentives for small, medium, large industries, and mega projects under the incentive package scheme.
The government has proposed Rs 4,792.02 crore to transfer the loan amount to the state-owned power distribution company, Mahavitaran, which has been received from the Asian Infrastructure Investment Bank for the solar agricultural pump scheme. This allocation is aimed at supporting the government's plan to achieve 52 per cent renewable energy usage by 2030 under the net-zero mission.
The government has also proposed Rs 1,431.05 crore as an additional fund as part of the central share for the implementation of the Jal Jeevan Mission. In March 2025, Ajit Pawar had presented a budget with a revenue deficit of Rs 45,890 crore.
In June 2025, the government presented supplementary demands worth Rs 57,509.71 crore, exceeding the revenue deficit of Rs 1 lakh crore.
During the Winter Session in December 2025, with supplementary demands of Rs 75,286.37 crore, the revenue deficit had already crossed the Rs 2 lakh crore mark. In addition to the revenue deficit of Rs 45,891 crore, the 2025-26 budget projected that Maharashtra's debt burden would rise to Rs 9.32 lakh crore. In Tuesday's supplementary demands, the state government has focused solely on power subsidies for farmers and industry incentives, without proposing any new or additional expenses.
CM Fadnavis will present the state budget for the year 2026-27 on March 6. He has already announced in a press conference on Sunday that strict measures would be taken to maintain financial discipline.
Earlier, speaking at the World Economic Forum (WEF) annual meeting, the Chief Minister had said that the state is on track to generate 16 gigawatts (GW) of solar power by the end of this year. By 2032, the state aims to generate an additional 45 GW, with 70 per cent coming from solar. Renewable energy, which stood at 13 per cent four years ago, is projected to reach 52 per cent by 2030," he said.
Following Prime Minister Narendra Modi’s vision, the state launched Asia's largest decentralized solar scheme.
By shifting the entire agricultural load to solar power and establishing a dedicated company for farmer supply, the state is making every agricultural feeder independent.
"The cost of supplying power to farmers has dropped from Rs 8 to less than Rs 3 per unit. This transition is not only helping farmers but also reducing the financial burden on industries and households," the Chief Minister noted.
The government is also advancing a capital outlay for pumped storage hydro projects (combined capacity of 5,630 MW) with an estimated total investment of Rs 24,631 crore.
