3 minutes of readingBombayFebruary 1, 2026 11:01 am
While Chief Minister Devendra Fadnavis will present the state budget next month following the untimely death of Ajit Pawar, no final decision has been taken on retaining the finance portfolio with the CM. This implies that the allocation of the financial portfolio committed to the PNC is still open.
High-ranking sources in the state government said: “With 20 days left for the state to budget In the session, it was felt that the CM should take charge of the finance department and present the state budget 2026-27. It was proposed by the NCP leaders to the CM in a meeting. By consensus and collective decision, Fadnavis agreed to present the budget.” However, insiders indicated that the fact that Fadnavis is going to present the budget does not mean that the finance portfolio has been stripped of the NCP quota. Keeping the budget in view, Fadnavis has temporarily retained the finance portfolio.
According to Mahayuti sources, “once the budget session is over, Fadnavis will take a final decision on the financial portfolio in consultation with alliance partner NCP.”
The pre-budget exercise, which is mandatory for preparing the budget, was started by late Ajit Pawar. He had proposed final guidelines after consulting the CM.
On Saturday, Sunetra Pawar took oath as deputy chief minister. He has been assigned excise and sports portfolios. It was the PNC leaders who felt that it would be difficult for ministers without economic experience to adapt the budget. While Fadnavis is well versed in each and every aspect related to state finances.
The Prime Minister told the media that Ajit Pawar had already started the process of making the budget. And we will ensure that your plans, directions and aspirations are carried forward, he had said.
In the latest budget 2025-26, a seven-point development agenda was proposed to achieve the ambitious goal of a trillion-dollar economy.
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With rising spending and shrinking income, Fadnavis is likely to have to walk a tightrope in budgeting. The biggest challenge ahead is to curtail populist schemes to ensure greater capital allocations for development projects.
With no elections for the next three and a half years, the state government is expected to take drastic measures to curb overspending by imposing departmental cuts in phases to improve fiscal discipline.