Maharashtra State Budget 2024-25 Analysis
Budget EstimateTotal expenditure, revenue receipts, fiscal deficit, and department-wise allocation for Maharashtra FY 2024-25
Maharashtra State Budget 2024-25 Budget at a Glance
Total Receipts
Rs 4.99 lakh crore
+6.3%
Total Expenditure
Rs 6.12 lakh crore
+7.0%
Fiscal Deficit
2.6%
Rs 1.1 lakh crore
Capital Expenditure
Rs 86,295 crore
+5.2%
Tax Revenue
Rs 2.56 lakh crore
+6.5%
Interest Payments
Rs 50,355 crore
8% of expenditure
Maharashtra Revenue Receipts 2024-25
Own tax revenue vs non-tax revenue breakdown
Maharashtra Expenditure Breakdown 2024-25
Revenue vs Capital spending and department allocation
Revenue vs Capital Split
Top 10 Departments by Allocation
Fiscal Deficit as % of GSDP â Maharashtra 2024-25
The fiscal deficit for Maharashtra in 2024-25 is 2.6% of GSDP (Rs 1.1 lakh crore), reflecting the state's borrowing needs to fund development programmes.
States are expected to maintain fiscal deficit within 3% of GSDP as per the FRBM Act. Maharashtra is maintaining fiscal discipline close to the recommended limit.
Interest payments at Rs 50,355 crore consume 8.2% of total expenditure.
Maharashtra State Budget 2024-25 â Receipts & Expenditure Summary
| Particulars | Amount | % of Total |
|---|---|---|
| A. Total Receipts | Rs 5.9 lakh crore | 100% |
| 1. Revenue Receipts | Rs 4.99 lakh crore | 84.6% |
| a. Own Tax Revenue | Rs 2.56 lakh crore | 43.3% |
| b. Non-Tax Revenue | Rs 36,940 crore | 6.3% |
| B. Total Expenditure | Rs 6.12 lakh crore | 100% |
| 1. Revenue Expenditure | Rs 5.26 lakh crore | 85.9% |
| 2. Capital Expenditure | Rs 86,295 crore | 14.1% |
| of which: Interest Payments | Rs 50,355 crore | 8.2% |
| C. Fiscal Deficit | Rs 1.1 lakh crore | 2.6% of GSDP |
Source: Maharashtra State Budget Documents via PRS India. All figures in Indian Rupees.
Maharashtra Department-wise Expenditure 2024-25
Top departments by allocation in Maharashtra for 2024-25
| Department â | Revenue â | Capital â | Total â | Share |
|---|---|---|---|---|
1. Education | Rs 62,000 crore | Rs 7,000 crore | Rs 69,000 crore | 11.3% |
2. Urban Development | Rs 38,000 crore | Rs 15,000 crore | Rs 53,000 crore | 8.7% |
3. Rural Development | Rs 35,000 crore | Rs 10,000 crore | Rs 45,000 crore | 7.3% |
4. Health & Family Welfare | Rs 27,000 crore | Rs 7,000 crore | Rs 34,000 crore | 5.6% |
5. Water Supply & Sanitation | Rs 16,000 crore | Rs 14,000 crore | Rs 30,000 crore | 4.9% |
6. Agriculture & Allied | Rs 25,000 crore | Rs 4,500 crore | Rs 29,500 crore | 4.8% |
7. Energy | Rs 22,000 crore | Rs 5,500 crore | Rs 27,500 crore | 4.5% |
8. Transport & Roads | Rs 10,000 crore | Rs 13,000 crore | Rs 23,000 crore | 3.8% |
9. Police & Home | Rs 20,000 crore | Rs 2,500 crore | Rs 22,500 crore | 3.7% |
10. Social Justice | Rs 18,000 crore | Rs 2,500 crore | Rs 20,500 crore | 3.3% |
Maharashtra Budget 2024-25 Analysis & Highlights
Key Highlights
- Maharashtra Budget 2024-25 targets total expenditure of Rs 5.9 lakh crore, up 12% from revised estimates of the prior year.
- Ladki Bahin Yojana launched with Rs 10,000 crore allocation for monthly income support to women.
- Capital expenditure maintained above Rs 90,000 crore for the second consecutive year.
- Mumbai Trans-Harbour Link (Atal Setu) completion catalyzes Rs 5,000 crore allocation for Navi Mumbai connectivity.
- GST compensation cessation fully absorbed; own-revenue growth sustains fiscal position.
- Farm distress package of Rs 8,000 crore for Marathwada following consecutive drought years.
- Samruddhi Mahamarg (Nagpur-Mumbai Expressway) operational sections drive Rs 3,000 crore in corridor development.
- Fiscal deficit contained at 2.7% of GSDP, the lowest among major industrialized states.
- Education budget crosses Rs 48,000 crore with new skill development centers in tier-2 cities.
- Industrial incentive package of Rs 6,000 crore announced to counter competitive pressure from Tamil Nadu and Gujarat.
- Pension liabilities increase 15% as legacy OPS commitments continue for pre-2004 employees.
Compare Maharashtra Budget â Recent Years
Year-over-year comparison of key fiscal metrics
| Metric | 2020-21 | 2021-22 | 2022-23 | 2023-24 | 2024-25 |
|---|---|---|---|---|---|
| Total Expenditure | â | â | â | Rs 5.72 lakh crore | Rs 6.12 lakh crore |
| Revenue Receipts | â | â | â | Rs 4.7 lakh crore | Rs 4.99 lakh crore |
| Capital Expenditure | â | â | â | Rs 82,000 crore | Rs 86,295 crore |
| Fiscal Deficit (% GSDP) | â | â | â | 2.7% | 2.6% |
| Own Tax Revenue | â | â | â | Rs 2.4 lakh crore | Rs 2.56 lakh crore |
Columns showing "â" will populate as more data is ingested. Data from official budget documents via PRS India.
Understanding Maharashtra State Budget 2024-25
The Maharashtra state budget is the annual financial plan presented in the state legislature. It covers all revenue receipts, expenditure allocations across departments, and fiscal deficit management. State budgets are critical because states handle key development areas including education, health, agriculture, and infrastructure.
Maharashtra Revenue Sources
State revenue comes from three sources: own tax revenue (state GST, stamp duty, excise, vehicle tax), non-tax revenue (fees, fines, interest), and transfers from the Centre (share of central taxes as per Finance Commission recommendations, plus grants-in-aid for specific schemes).
Fiscal Deficit and State Borrowing
Under the FRBM framework, states target a fiscal deficit of 3% of GSDP. States can borrow from the market via State Development Loans (SDLs), and the central government also provides loans. The RBI manages the borrowing calendar for states to ensure orderly market conditions.
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Compare Maharashtra with other states
Side-by-side comparison of fiscal metrics across Indian states