The Vadhvan port in Palghar district of Maharashtra will be operational by 2030, Finance Minister Ajit Pawar announced on Monday as he tabled Maharashtra Budget 2025 in the legislative assembly. Maharashtra deputy CM and state Finance Minister Ajit Pawar presented his 11th budget.
Ajit Pawar presented a Rs 7,20,000 crore budget for 2025-26 with a revenue deficit of Rs 45,891 crore in the state legislative assembly. Ajit Pawar said that Maharashtra`s new industrial policy will focus on Rs 40 lakh crore investment and generation of 50 lakh jobs. The Mumbai Metropolitan Region is being developed as a growth hub, and it will have a $1.5 trillion economy by 2047, Pawar said in his budget speech.
“Vadhvan port in Palghar will be operational by 2030,” the minister said, adding the third airport for Mumbai is proposed near the Vadhvan port and a station of the Mumbai-Ahmedabad bullet train will also be near the port. In his budget speech, Ajit Pawar also announced a night landing facility at Shirdi airport soon.
He also said domestic flights will operate from Navi Mumbai International Airport from next month, adding that 85 per cent of the work has been done and trials successfully conducted. Also, the Mumbai Metro service will link Mumbai`s Chhatrapati Shivaji Maharaj International Airport with the Navi Mumbai International Airport, Ajit Pawar added.
Ajit Pawar stated that the government is actively working to attract investments in the industrial sector, leading to significant investments in the state. Maharashtra continues to lead in industrial development and ranks first in the country in terms of foreign direct investment (FDI). During the World Economic Forum held in Davos in January 2025, the state government signed Memorandums of Understanding (MoUs) with 63 companies.
