Amid financial strain, Maharashtra Chief Minister Devendra Fadnavis, responsible for planning and finance, presented supplementary demands totaling Rs 11,995 crore for the remaining period of the fiscal 2025-26. The allocation includes funds for electricity tariff concessions for agriculture, power loom, and textile consumers, as well as incentives for various industries. Additionally, a significant amount is earmarked for transferring loans to the state power distribution company for a solar agriculture pump scheme.
The government’s proposal also includes funds for the Jal Jeevan mission and aims to achieve 52% renewable energy usage by 2030. The state has been grappling with escalating revenue deficits, with the budget projecting a substantial rise in debt burden. The current supplementary demands focus primarily on power subsidies for farmers and industry incentives, without introducing new expenses.
CM Fadnavis is scheduled to present the state budget for 2026-27 on March 6, emphasizing the need for financial discipline. The state is progressing towards its renewable energy goals, with plans to generate significant solar power capacity by 2032. The government has launched a large-scale solar scheme and is transitioning agricultural power supply to solar, reducing costs and benefiting both farmers and other sectors.
The government is also investing in pumped storage hydro projects to enhance energy capacity.
