Devendra Fadnavis pledges balance between welfare schemes & capital investment in Maharashtra

Maharashtra Chief Minister Devendra Fadnavis, addressing the MoneyControl Global Wealth Summit 2025 in Mumbai, said that his government is determined to balance social welfare schemes with the need for substantial capital investment.

Acknowledging the pressure of the Rs 60,000 crore annual cost of various social schemes on the state budget, the Chief Minister outlined efforts to ensure these programs don't hinder the state's overall development.

He pointed to the Laadli Bahin Yojana, a scheme providing Rs 1,500 per month to women, as an example where beneficiaries are encouraged to develop sustainable business models.


"We started the Laadli Bahin Yojana last year where women receive a grant of Rs 1,500 per month. In Nagpur, a group of women developed a finance society. They drew deposits to the tune of Rs 30 lakh through small investments and developed a business model out of it. So, we are trying to facilitate and develop business models among the beneficiaries," the chief minister said.

"Maharashtra has the power to attract investments, we are trying to leverage that," he added.

Meanwhile, he also spoke on the state's ambitious goal to become a $1 trillion economy by 2030. The BJP leader noted that Maharashtra was the only state in India to have crossed the $500 billion milestone, positioning it as a leader in economic growth.

"In 2016-17, we mooted the idea of a $1 trillion economy. Maharashtra is the only state which has chased the half trillion path. By 2030, we will be able to make Maharashtra a $1 trillion economy," he said while addressing the event.