Mumbai: Maharashtra’s economy is projected to grow by 7.9 percent in the financial year 2025–26, according to the Maharashtra Economic Survey 2025–26 presented in the state legislature. The report highlights the state’s strong economic performance driven by balanced growth in the agriculture, industry, and services sectors, along with major investments in infrastructure and reforms to improve ease of doing business.

The Economic Survey 2025–26 was tabled in the Maharashtra Legislative Assembly by Minister of State for Finance and Planning Adv. Ashish Jaiswal and in the Legislative Council by Minister of State Pankaj Bhoyar.

According to the report, the nominal Gross State Domestic Product (GSDP) for 2025–26 is estimated at ₹51,00,597 crore, while the real GSDP is expected to be ₹28,82,699 crore. The state’s per capita income is projected to reach ₹3,47,903, significantly higher than the national average of ₹2,19,575.

Maharashtra Contributes Highest Share to India’s GDP

As per the first revised estimates for 2024–25, Maharashtra contributes 14 percent to India’s nominal GDP, the highest among all states. The report attributes this to rapid infrastructure development, including roads, metro networks, ports, airports, industrial corridors, and logistics hubs, which have strengthened the state’s economic competitiveness.

Sector-Wise Growth Projections

The survey estimates growth across key sectors in 2025–26:

• Agriculture and allied sectors: 3.4% growth
• Industry sector: 5.7% growth
• Services sector: 9% growth

The report notes that the services sector continues to be the major driver of Maharashtra’s economic growth.

Inflation Remains Under Control

Between April and December 2025, the average Consumer Price Index (CPI) stood at 401.8 in rural areas and 376.7 in urban areas. Inflation during this period was recorded at 2.0% in rural areas and 1.5% in urban areas. The survey states that GST rate revisions on essential commodities have positively impacted price stability.

Expansion of Public Distribution System

By December 2025, the state had 2.70 crore ration card holders and 51,636 fair price shops under the Public Distribution System. Under the Shiv Bhojan Scheme, more than 4.09 crore subsidized meals had been served by November 2025.

Progress in Social Development

The survey highlights significant achievements in the social sector:

• 8.75 lakh houses completed in urban areas and 16.05 lakh houses in rural areas under the Pradhan Mantri Awas Yojana.
• Over 90% of households now have tap water connections under the Jal Jeevan Mission.
• Out of 40,247 villages in the state, 34,584 have been declared ODF+ under the Swachh Bharat Mission (Rural).
• In urban areas (as of December 2025), 42 cities are ODF, 82 ODF+, 257 ODF++, and 30 Water+ certified.

State Revenue Position

According to the Budget Estimates for 2025–26, Maharashtra’s total revenue receipts are expected to reach ₹5,60,964 crore, including ₹4,77,400 crore from tax revenue and ₹33,052 crore from non-tax revenue.

The state has maintained fiscal discipline over the past decade by keeping the fiscal deficit within 3 percent of GSDP, with the deficit expected to be around 2.7 percent in 2025–26.

Agriculture and Farmer Support

During the 2025 monsoon, Maharashtra received 109.1% of the average rainfall. Sowing during the Kharif season covered 157.27 lakh hectares. While production of cereals, sugarcane, and cotton is expected to increase, pulses and oilseed production may decline.

The government approved ₹9,022.38 crore in compensation for 1.16 crore farmers affected by unseasonal rains and heavy rainfall, covering 94.82 lakh hectares of damaged crops.

Under the Solar Agricultural Pump Scheme, 7.37 lakh solar pumps had been installed across the state by December 2025.

Leadership in Industry and Investment

Under the Maharashtra Industry, Investment and Services Policy 2025, the state is focusing on attracting large-scale investments. By December 2025, 63.85 lakh Micro, Small and Medium Enterprises (MSMEs) had been registered, generating over 2.52 crore jobs.

Maharashtra also leads the country with 31 percent of India’s total Foreign Direct Investment (FDI) and holds the highest share of startups in the country at 17 percent.

Energy and Infrastructure Growth

As of March 31, 2025, Maharashtra’s installed power generation capacity stood at 41,019 MW. Renewable energy capacity has been increasing steadily, placing the state third in the country, with significant growth in solar power generation.

Transport and Connectivity

By March 2025, the total road network in Maharashtra had expanded to 3.45 lakh kilometres. As of January 1, 2026, the state had 528 lakh registered vehicles.

Major infrastructure developments include:

• The Mumbai–Nagpur Hindu Hrudaysamrat Balasaheb Thackeray Maharashtra Samruddhi Expressway, fully operational since June 2025.
• Mumbai Metro Line 3 (Colaba–Bandra–SEEPZ), which became fully operational in October 2025 and currently carries over 78,000 passengers daily.

Tourism and Aviation Boost

According to the India Tourism Data Compendium, Maharashtra ranked first in the country for foreign tourist arrivals in 2024. Additionally, flight operations from the Navi Mumbai International Airport began in December 2025, further strengthening the state’s connectivity and tourism potential.

The Maharashtra Economic Survey 2025–26 highlights the state’s strong growth trajectory, positioning it as India’s leading economic powerhouse with robust performance across agriculture, industry, services, and infrastructure sectors.