Maharashtra Chief Minister Devendra Fadnavis has acknowledged that pre-election welfare schemes, such as the Ladki Bahin initiative, are costing the state Rs 60,000 crore. Speaking at a Moneycontrol event on Friday, ahead of the state budget announcement on Monday, Fadnavis emphasized efforts to ensure this financial burden does not derail capital investments. The schemes, credited for bolstering the MVA government's re-election in the November 2024 assembly polls, have sparked concerns over fiscal strain.

Fadnavis framed the expenditure as a "social sector investment" and outlined plans to redirect the funds into sustainable ventures. He cited an example from Nagpur, where women beneficiaries pooled Rs 30 lakh to form a loan corpus for aspiring entrepreneurs. The state aims to replicate such "finance societies" statewide, targeting the creation of 1 crore "Lakhpati Didis"—women earning over Rs 1 lakh annually.

Despite the fiscal challenge, Fadnavis stressed that Maharashtra is maintaining a balance to protect capital investments. He also addressed other economic priorities, noting the state’s loss due to resistance against a mega-refinery project. He recently urged the central government to retain the project in Maharashtra, proposing it be split into three smaller units.

Fadnavis highlighted Maharashtra’s emergence as India’s data center and fintech hub, with startups now migrating from Bengaluru to Mumbai. He also revealed the state’s bid to host Tesla’s manufacturing plant. On foreign direct investment (FDI), he dismissed concerns over missed opportunities, stating Maharashtra’s inflows are triple those of Gujarat.

Additionally, he updated progress on the Dharavi slum redevelopment, with 75% of dwelling surveys completed, targeting full completion by April. Fadnavis’ remarks reflect Maharashtra’s ambition to juggle welfare commitments with robust economic growth.