Maharashtra state's budget for the fiscal year 2025-26 is currently underway in the Maharashtra state assembly. The state's finance and deputy chief minister, Ajit Pawar, while speaking in the budget, said that the Mumbai Metropolitan Region or MMR, will be developed as an international-class 'Growth Hub'.
In order to achieve this, trade hubs will be set up in Bandra-Kurla, Kurla-Worli, Wadala, Goregaon, Navi Mumbai, Kharghar, Virar-Boisar.
#MahaBudgetSession2025 | मुंबई महानगर प्रदेश आंतरराष्ट्रीय दर्जाचे ‘ग्रोथ हब’ म्हणून विकसित होणार! वांद्रे-कुर्ला, कुर्ला-वरळी, वडाळा, गोरेगाव, नवी मुंबई, खारघर, विरार-बोईसर येथे व्यापार केंद्रे उभारली जाणार. अर्थव्यवस्था 2030 पर्यंत $300B व 2047 पर्यंत $1.5T नेण्याचे उद्दीष्ट! pic.twitter.com/liy5oUiMaD
— DD Sahyadri News | सह्याद्री बातम्या (@ddsahyadrinews) March 10, 2025
The state government also aims to take the Maharashtra economy to USD 300 billion by 2030 and take it to new heights and reach the coveted trillion-dollar mark or USD 1.5 trillion by 2047.
The state of Maharashtra is the largest state economy within India.
Port Development Exempted From Property Tax
The state FM also announced a major decision to exempt Port Development from property tax.
“महाराष्ट्र सागरी विकास धोरण -2023” मध्ये बंदर विकासाकरीता स्वामित्वधन, अकृषिक कर, वीज शुल्क, मुद्रांक शुल्क यातून सूट देण्यात आलीय वीजेसाठी औद्योगिक दर लागू करण्यात आला.
— DD Sahyadri News | सह्याद्री बातम्या (@ddsahyadrinews) March 10, 2025
प्रवासी जलवाहतूक आणि किनारी पर्यटनाला चालना देण्यासाठी प्रवासी आणि बंदर करातून सूट देण्यात आली आहे. pic.twitter.com/LaUhC9gEJr
In his speech, Pawar said, "In the “Maharashtra Maritime Development Policy-2023”, port development has been exempted from property tax, non-agricultural tax, electricity duty, stamp duty, and industrial rates have been implemented for electricity. Passenger and port taxes have been exempted to promote passenger shipping and coastal tourism."
नोव्हेंबर 2024 च्या विधानसभा निवडणुकीत महायुतीला जनतेने अभूतपूर्व बहुमत दिले. तमाम जनतेचे मनःपूर्वक आभार! हा विश्वास जबाबदारीची जाणीव करून देणारा असून, त्याचा सन्मान राखण्याची ग्वाही देतो. - अर्थमंत्री अजित पवार#MahaBudgetSession2025 #maharashtrabudget pic.twitter.com/XRt7dV7OWe
— DD Sahyadri News | सह्याद्री बातम्या (@ddsahyadrinews) March 10, 2025
At the beginning of the speech, Pawar highlighted the state election results. While speaking in the Maharashtra state assembly, he said, "The people gave an unprecedented majority to the Mahayuti in the November 2024 assembly elections. Heartfelt gratitude to all the people! This trust is a sense of responsibility and guarantees to uphold its honor."