Maharashtra Debt Crisis: Every Citizen Now Owes ₹72,761 as State’s Debt Rises to ₹9.32 Lakh Crore
Maharashtra Debt Crisis: Every Citizen Now Owes ₹72,761 as State’s Debt Rises to ₹9.32 Lakh Crore
Mumbai, March 12, 2025 – Maharashtra’s financial burden has reached alarming levels, with the state’s total debt projected to hit ₹9.32 lakh crore by 2025-26, according to a report by NGO Samarthan. This translates to a debt of ₹72,761 per citizen, given the state’s estimated population of 12.8 crore.
The report highlights that Maharashtra’s debt increased by ₹1.02 lakh crore in the past year and is expected to rise further by ₹92,967 crore in the next fiscal year. The state’s financial health has sparked concerns, especially after the budget presented by Finance Minister Ajit Pawar.
Debt Surge Raises Fiscal Concerns
Currently, Maharashtra’s debt stands at ₹7.82 lakh crore, while its revenue income for 2024-25 is estimated at ₹5.36 lakh crore, projected to rise to ₹5.61 lakh crore in 2025-26. Experts warn that the growing debt could significantly impact development projects and welfare schemes.
According to a Hindustan Times report,Rupesh Keer, a member of Samarthan, 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 surged to ₹8.39 lakh crore, pushing every citizen into financial liability,” Keer stated.
A major concern is the soaring interest payments. Maharashtra will spend ₹64,659 crore on interest alone this year, a sharp rise from ₹54,687 crore last year. Interest payments now account for 11.53% of total revenue receipts, leaving fewer funds for infrastructure and public welfare.
Opposition Slams Government’s Fiscal Management
Criticizing the government’s financial policies, Leader of Opposition Ambadas Danve said, “Maharashtra is spending ₹65,000 crore annually on interest payments alone. This exposes the government’s fiscal mismanagement, and ultimately, citizens will bear the burden.”
With debt levels soaring, the state government faces mounting pressure to implement corrective measures and ensure sustainable fiscal management.
