Maharashtra’s public debt is projected to reach a substantial Rs 9.32 lakh crore by 2025-26, surpassing the national economic growth forecast. The state’s Economic Survey, presented in the Maharashtra Assembly, highlights a robust 7.9 per cent growth fueled by strong GST inflows and market sentiment.
The outstanding public debt is expected to increase from Rs 8.39 lakh crore in 2024-25, leading to a debt-to-GSDP ratio of 18.3 per cent, which falls within the state’s maintained range of 17-18 per cent. Despite the rise in debt, the survey underscores fiscal discipline, forecasting a fiscal deficit of 2.7 per cent of GSDP and a revenue deficit below the mandated ceiling.
Nominal GSDP is forecasted to reach Rs 51 lakh crore with a 10.4 per cent growth rate, while real GSDP is estimated at Rs 28.83 lakh crore. The services sector leads with 9 per cent growth, followed by industry at 5.7 per cent and agriculture at 3.4 per cent. Capital spending is set at Rs 1.51 lakh crore, with a significant portion allocated to development projects.
