Government budget and revenue in Maharashtra, India: official figures
The state government budgeted ₹262,178 crore for social sectors such as education, health, housing and welfare in 2024-25, and expected ₹342,919 crore from its own taxes (budget estimate).
How much tax does the Maharashtra government raise?
Its own tax revenue works out at about ₹26,860 per resident in 2024-25 (6th highest of 31 with figures), and it expected a further ₹26,775 crore of non-tax revenue such as mining royalties, fees and dividends. The rest of its income comes from its share of central taxes, central grants and borrowing.
Source: Reserve Bank of India · saved copyHow much does the Maharashtra government borrow?
The state government planned to borrow ₹1.10 lakh crore to cover its fiscal deficit in 2024-25, 2.4% of its GSDP (budget estimate; 4th lowest of 25 with figures). The usual ceiling for states under fiscal responsibility rules is about 3%.
Source: Reserve Bank of India · saved copyHow much debt does the Maharashtra government have?
The state government owed ₹8.12 lakh crore at the end of March 2025, equal to 17.9% of its 2024-25 GSDP and about ₹63,100 per resident; 3rd lowest of 25 with figures. All states and UTs together owed ₹93.93 lakh crore.
Source: Reserve Bank of India · saved copyHow much does the Maharashtra government spend on interest and pensions?
Interest on past borrowing takes 10.9% of the state's day-to-day (revenue) spending of ₹5.20 lakh crore in the 2024-25 budget (all states and UTs: 11.9%; 13th highest of 31 with figures), and pensions for retired staff another 11.5%.
Source: Reserve Bank of India · saved copyHow Maharashtra compares with other states
State government debt (outstanding liabilities) as % of GSDP (March 2025)
Maharashtra ranks 23 of 25, highest first. Outstanding liabilities at end-March 2025 divided by gross state domestic product for 2024-25.
| Rank | Region | State government debt (outstanding liabilities) as % of GSDP |
|---|---|---|
| 19 | Telangana | 27.0% |
| 20 | Jharkhand | 26.1% |
| 21 | Uttarakhand | 25.2% |
| 22 | Karnataka | 25.2% |
| 23 | Maharashtra | 17.9% |
| 24 | Odisha | 17.4% |
| 25 | Delhi | 1.3% |
Budgeted fiscal deficit as % of GSDP (2024-25 (budget))
Maharashtra ranks 22 of 25, highest first.
| Rank | Region | Budgeted fiscal deficit as % of GSDP |
|---|---|---|
| 19 | Karnataka | 2.9% |
| 20 | Haryana | 2.8% |
| 21 | Uttarakhand | 2.5% |
| 22 | Maharashtra | 2.4% |
| 23 | Puducherry | 2.1% |
| 24 | Jharkhand | 1.8% |
| 25 | Delhi | 0.5% |
Interest payments as % of revenue spending (2024-25 (budget))
Maharashtra ranks 13 of 31, highest first. Interest on past borrowing divided by revenue (day-to-day) expenditure, budget estimates.
| Rank | Region | Interest payments as % of revenue spending |
|---|---|---|
| 10 | Jammu and Kashmir | 12.6% |
| 11 | Andhra Pradesh | 12.2% |
| 12 | Uttarakhand | 11.9% |
| 13 | Maharashtra | 10.9% |
| 14 | Madhya Pradesh | 10.5% |
| 15 | Goa | 10.3% |
| 16 | Uttar Pradesh | 10.1% |
More on Maharashtra: overview · economy and jobs · health · education and schools · poverty and living standards · India
Sources
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 176: State-wise Composition of Outstanding Liabilities, read 23 October 2026 · saved copy (SHA-256 df4d117b3949…)
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 164: State-wise Gross Fiscal Deficit, read 23 October 2026 · saved copy (SHA-256 5e1a742f710e…)
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 170: State-wise Interest Payments, read 23 October 2026 · saved copy (SHA-256 615f96758e43…)
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 168: State-wise Own Tax Revenue, read 23 October 2026 · saved copy (SHA-256 b25a8b6f2ff7…)
- Reserve Bank of India: Handbook of Statistics on Indian States 2024-25, Table 175: State-wise Social Sector Expenditure, read 23 October 2026 · saved copy (SHA-256 6b8f611c50f5…)
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