Maharashtra economy to grow at 7.9 pc in 2025-26

Maharashtra’s economy is set to grow at 7.9 per cent in 2025-26 against the India’s growth rate of 7.6 per cent especially due to a record collection of Goods and Services Tax and favourable market conditions. Maharashtra continues to be the growth engine of the country. The nominal Gross State Domestic Product (GSDP) at current prices is expected to grow by 10.4 per cent. According to the Economic Survey for 2025-26 presented by the Minister of State for Finance Ashish Jaiswal on Thursday in the state Assembly, the agriculture and allied sector is expected to grow at 3.4 per cent, industry sector at 5.7 per cent and services sector 9 per cent.
As per the advanced estimates nominal at current price GSDP for 2025-26 is estimated at Rs 51,00,597 crore and real GDP at constant 2011-12 prices is estimated at Rs 28,82,699 crore. The fiscal deficit is estimated at 2.7 per cent of the GSDP, revenue deficit 0.9 per cent of GSDP and public debt 18.3 per cent of GSDP. The public debt is expected to be Rs 9,32,242 crore in 2025-26 against Rs 8,39,242 crore in 2024-25.
The revenue deficit will be Rs 45,891 crore and fiscal deficit Rs 1,36,235 crore. The capital expenditure is estimated at Rs 1,50,721 crore (19.9 per cent of GSDP) comprising Rs 93,166 crore on development and Rs 57,556 crore on non development against Rs 1,66,277 crore in 2024-25. The state government has provided guarantees worth Rs 1,29,458 crore in 2024-25.
The State is also expected to receive Rs 1,09,239 crore as grants-in-aid for local bodies and disaster management during the five-year award period of the 16th Finance Commission. The government has taken all the efforts to maintain fiscal deficit within the limit of three per cent of GSDP (as prescribed in ‘Maharashtra FRBM Rules, 2006’) for more than last ten years. GST is the most important source of revenue for the State as it contributes a larger share to the State’s own tax revenue and total revenue receipts. The revenue receipts of the State have remained more than nine per cent of GSDP in the last four years.