Fadnavis to Present Maharashtra Budget as Finance Portfolio Decision Awaits Final Call
In a significant development for Maharashtra's political landscape, Chief Minister Devendra Fadnavis is set to present the state budget for the fiscal year 2026-27 next month. This decision comes following the untimely demise of former deputy chief minister Ajit Pawar, who had initiated the budget-making process.
Finance Portfolio Allocation Remains Unresolved
Despite Fadnavis taking charge of presenting the budget, no final decision has been made regarding who will permanently hold the crucial finance portfolio. This portfolio, which was previously committed to the Nationalist Congress Party (NCP) as part of the alliance agreement, remains in a state of limbo.
Highly placed sources within the state government revealed that with only 20 days remaining before the budget session, NCP leaders proposed that the chief minister should temporarily oversee the finance department and present the budget. This suggestion was made during a recent meeting and was accepted through consensus.
Temporary Arrangement with Future Consultations
Insiders have clarified that Fadnavis presenting the budget does not signify a permanent transfer of the finance portfolio away from the NCP quota. The chief minister has retained the portfolio on a temporary basis to ensure budgetary continuity.
According to sources within the Mahayuti alliance, a final decision regarding the finance portfolio will be taken by Fadnavis in consultation with NCP leaders after the conclusion of the budget session. This approach allows the government to focus on immediate fiscal priorities while deferring portfolio allocation discussions.
Background and Rationale
The late Ajit Pawar had already commenced the mandatory pre-budget exercises and had proposed definitive directions after consulting with the chief minister. Following his passing, NCP leaders expressed concerns that ministers without substantial economic expertise might struggle to tailor the budget effectively.
Fadnavis, who possesses extensive experience with state finances, was seen as the most suitable candidate to ensure budgetary continuity. The chief minister has publicly stated that the government will ensure Pawar's plans, directions, and aspirations are carried forward in the upcoming budget.
Budgetary Challenges and Expectations
The 2026-27 budget presentation comes at a challenging time for Maharashtra's economy. With rising expenditure and shrinking revenue, Fadnavis faces a delicate balancing act in budget formulation. The previous budget for 2025-26 had proposed a seven-point development agenda aimed at achieving the ambitious goal of a one-trillion dollar economy for the state.
The current administration's biggest challenge involves curtailing populist schemes to enable higher capital allocations for development projects. With no elections scheduled for the next 3.5 years, the state government is expected to implement drastic measures to control excess expenditure through phased departmental cuts, thereby improving fiscal discipline.
Recent Political Developments
In related political developments, Sunetra Pawar took the oath of office as deputy chief minister on Saturday. She has been allocated the excise and sports portfolios, marking another significant appointment within the state's administrative structure.
As Maharashtra prepares for its upcoming budget session, all eyes will be on how Fadnavis navigates the complex fiscal landscape while maintaining coalition harmony and advancing the state's economic agenda.
