Maharashtra’s Debt Rises to ₹9.32 Lakh Crore, Raising Concerns

Mumbai: Maharashtra’s financial situation is worsening, with the state’s total debt expected to reach ₹9.32 lakh crore by 2025-26, according to a report by NGO Samarthan. This means that every citizen in the state, with an estimated population of 12.8 crore, carries a debt burden of ₹72,761.

The report highlights that Maharashtra’s debt grew by ₹1.02 lakh crore in the last year and is expected to increase by another ₹92,967 crore in the next financial year. The state’s rising debt has become a serious concern, especially after Finance Minister Ajit Pawar’s budget presentation.

Debt Growth and Fiscal Concerns

Currently, Maharashtra’s debt stands at ₹7.82 lakh crore, while its revenue for 2024-25 is estimated at ₹5.36 lakh crore, expected to rise to ₹5.61 lakh crore in 2025-26. Experts warn that rising debt could slow down development projects and welfare schemes.

According to a report by Hindustan Times, Samarthan member Rupesh Keer pointed out that Maharashtra’s debt has doubled in just eight years.

• In 2017-18, the state’s debt was ₹4.02 lakh crore
• By 2024-25, it increased to ₹8.39 lakh crore, adding more financial pressure on citizens.

A major worry is the increasing interest payments. Maharashtra will spend ₹64,659 crore on interest this year, up from ₹54,687 crore last year. Interest payments now take up 11.53% of total revenue, reducing funds for public welfare and infrastructure projects.

Opposition Criticizes Government’s Financial Management

Leader of Opposition Ambadas Danve criticized the government, stating,
“Maharashtra is spending ₹65,000 crore every year just on interest. This shows poor financial planning, and ultimately, citizens will suffer.”

With debt levels reaching record highs, the government is under pressure to take urgent steps to control spending and improve financial management.