The Maharashtra state budget session, starting March 3, aims to implement cost-cutting measures to improve fiscal balance and deliver on election promises.

MUMBAI: The state budget, to be tabled in the assembly on March 10 during the new govt’s first budget session, is likely to see the introduction of cost-cutting measures aimed at improving the fiscal balance in order to fulfil populist election promises.
In the run-up to the budget, govt has already curbed last-minute spending on buildings and roads, vehicles,rent, etc.
The new MahaYuti govt’s first budget session will begin on March 3 and run till March 21. Observers said the budget will be a big challenge as payout through the Ladki Bahin Yojana is set to increase from Rs 1,500 per month to Rs 2,100, as promised by MahaYuti leaders during their election campaign. Funds will also have to be allocated for contractors’ payments, infrastructure projects and farm loan waivers.
The Governor’s address will be delivered on the first day of the session, which will be followed by two days of discussions on the address. subsequently, supplementary demands will be presented.
In Dec 2024, women and child development minister Aditi Tatkare had said the Rs 2,100 instalment under Ladki Bahin Yojana will be finalised in the budget session. This means beneficiaries would need to wait till March to get higher payouts. The Ladki Bahin Yojana, initially scheduled until August 31, received an extension through Oct to maximise participation. A significant modification, eliminating income certificate requirements for ration cardholders, facilitated easier access to benefits, subsequently expanding beneficiary numbers.
Political observers said the govt could also make some announcements that will provide relief to farmers in this budget session. “Some concrete decision regarding farmer loan waivers, soybean and cotton price hike, soybean and cotton procurement and crop insurance issues are expected,” said an observer.
The cash-strapped state govt has, in varying degrees, implemented a 30% cut in spending in revenue and capital expenditure from allocations between April and Dec 2024.
This includes spending on buildings and roads, vehicles and publicity, phone and water bills, rent and taxes, arms and ammunition, fuel and commercial services.
While critics said this is because the treasury has been strained by populist schemes, finance department officials maintained this was an exercise conducted every Feb ahead of the budget to rein in last-minute spending.
This was also aimed at assessing the amount spent through the year as opposed to the amount allocated at the beginning.