Mumbai, March 5 Maharashtra's economy is expected to grow by 7.9 percent in 2025-26, with per capita income projected to reach ₹3.47 lakh, according to the Economic Survey presented in the state legislature on Thursday ahead of the budget.
The agriculture and allied sector is expected to grow by 3.4 percent in the current financial year. Industry is projected to grow by 5.7 percent and the services sector by 9 percent during this period, the survey stated, adding that the services sector continues to drive the state's economy.
According to the budget estimates for 2025-26, the state's revenue receipts are expected to be ₹5,60,964 crore, including ₹4,77,400 crore in tax revenue and ₹33,052 crore in non-tax revenue.
The state has maintained its fiscal deficit within 3 percent of GSDP, and it is estimated at 2.7 percent in 2025-26.
Maharashtra continues to be one of the strongest and most dynamic economies in the country, driven by balanced growth in agriculture, industry, and services, significant investments in infrastructure, and reforms aimed at improving the ease of doing business, the survey report said.
State Finance and Planning Minister Ashish Jaiswal presented the survey for 2025-26 in the legislative assembly, while State Minister Pankaj Bhoyar presented it in the legislative council.
The state's nominal Gross State Domestic Product (GSDP) for 2025-26 is expected to be ₹51 lakh crore, while the real GSDP is estimated at ₹28.82 lakh crore.
Per capita income is expected to reach ₹3,47,903, significantly higher than the national per capita income of ₹2,19,575, the survey said.
The state continued to contribute the highest share to India's GDP at 14 percent in 2024-25. The report attributed this to rapid development of infrastructure including metro rail, ports, airports, industrial corridors, and logistics facilities.
Between April and December 2025, the average Consumer Price Index (CPI) stood at 401.8 in rural areas and 376.7 in urban areas. Inflation during this period was 2 percent in rural areas and 1.5 percent in urban areas, the report said, adding that changes in GST rates on essential commodities had a positive impact on prices.
As of December 2025, the state has 2.70 crore ration card holders and 51,636 fair price shops. Under the Shiv Bhojan scheme, over 4.09 crore meals were served till November 2025.
Under the Pradhan Mantri Awas Yojana, 8.75 lakh houses in urban areas and 16.05 lakh houses in rural areas have been completed in the state.
More than 90 percent of households have received tap water connections under the Jal Jeevan Mission.
During the 2025 monsoon season, Maharashtra received 109.1 percent of normal rainfall. Sowing during the kharif season covered 157.27 lakh hectares.
Production of cereals, sugarcane, and cotton is expected to increase, while pulses and oilseeds may see a decline.
The state government approved ₹9,022.38 crore in compensation for 1.16 crore farmers affected by unseasonal rains and excessive rainfall across 94.82 lakh hectares.
As of December 2025, some 7.37 lakh solar agricultural pumps have been installed in the state.
Under the Maharashtra Industry, Investment and Services Policy 2025, the state is focusing on attracting large-scale investments, the survey said.
Till December 2025, some 63.85 lakh micro, small, and medium enterprises (MSMEs) were registered in the state, generating over 2.52 crore jobs.
Maharashtra also leads the country with 31 percent share in total foreign direct investment (FDI) and 17 percent share in India's startups.
As of March 31, 2025, the state's installed power generation capacity stood at 41,019 MW, with renewable energy capacity increasing steadily, placing Maharashtra third in the country, the report said.
The total length of roads in the state reached 3.45 lakh km by March 2025.
The Mumbai-Nagpur Samruddhi Expressway became fully operational in June 2025, while the Mumbai Metro Line-3 (Colaba-Bandra-SEEPZ) was fully opened in October 2025, carrying over 78,000 passengers daily, the report noted.
According to the India Tourism Data Compendium, Maharashtra ranked first in the country in foreign tourist visits in 2024. The Navi Mumbai International Airport also began flight operations in December 2025, the survey said.
