Maharashtra budget 2026 focuses on Mumbai Metropolitan Region's development
What's the story
Maharashtra Chief Minister and Finance Minister Devendra Fadnavis presented the state budget on March 6. The budget outlines a comprehensive development plan for the Mumbai Metropolitan Region (MMR), focusing on infrastructure, logistics, housing, metro connectivity, and high-speed rail projects. The government aims to transform MMR into an economic and infrastructure hub with this long-term strategy.
Economic development
'Fourth Mumbai' to come up in Vadhavan
The budget also proposes the development of a "Fourth Mumbai" or Mumbai 4.0 at Vadhavan in Palghar district. This new area will serve as a major logistics and warehousing hub, boosting industrial and trade activities. The project is expected to strengthen supply chains, create large employment opportunities, and ease pressure on existing commercial hubs in the region.
Housing development
Housing development in MMR
The government has also prioritized housing in its development strategy. The Slum Rehabilitation Authority has been assigned to prepare a detailed plan to redevelop around 20 lakh slum homes across the region. Additionally, about 10 lakh affordable houses will be constructed to provide better living conditions and organized urban housing for residents.
Urban planning
No new slum framework
To prevent the formation of new slums in Mumbai, a "No New Slum Framework" will be introduced. This system will use GIS-based technology for better monitoring of land use and urban development. The model could also be extended to other cities across Maharashtra for improved urban planning and avoiding unplanned settlements in rapidly growing areas.
Economic targets
Growth hubs in major cities
With support from NITI Aayog, the state government plans to set up dedicated growth hubs in major cities like Pune, Nashik, Nagpur, and Chhatrapati Sambhajinagar. These centers will follow a development model similar to Mumbai's focus on economic expansion and infrastructure growth. The government aims to expand the MMR economy from ₹11.6 lakh crore to ₹24.8 lakh crore through infrastructure expansion, logistics development, and housing reforms.
Infrastructure projects
World-class stadium and innovation hub in Taloja
The budget also announces plans for a world-class stadium and an innovation hub on 130 acres of land in Taloja. This project is expected to support sports infrastructure, technology development, and entrepreneurship in the region. Additionally, work on three stations between Thane and Talasari for the Mumbai-Ahmedabad High-Speed Rail Corridor is targeted for completion by 2027.
Urban development
Third Mumbai near Sewri-Nhava Sheva bridge
Another major proposal is the development of "Third Mumbai" or Mumbai 3.0 near the Atal Bihari Vajpayee Sewri-Nhava Sheva Atal Setu. This project will improve connectivity between Mumbai and Navi Mumbai. The government also plans to develop the Gharapuri-Kalamboli-Charn-Chikhle-Dapode-Pen corridor, along with the area surrounding Navi Mumbai International Airport, as a major development and graphics center.