Maharashtra Govt To List Mahavitaran On Stock Market To Ease Debt Burden

In his thanksgiving address to the joint session of the state legislature, Chief Minister Devendra Fadnavis on Friday said that the government is all set to list the Maharashtra State Electricity Distribution Company (Mahavitaran) on the stock market, making it the first power distribution company in India to do so.

In a major relief for domestic electricity consumers, Fadnavis announced a 17% tariff reduction for households using 100–300 units, benefiting 95% of consumers, and a 10% daytime discount for smart meter users. Prepaid meters remain optional, while postpaid meters will continue. However, these subsidies have increased Mahavitaran's debt, prompting the state to list it on the stock market to raise funds. Fadnavis also highlighted that farmers' pending electricity bills total around Rs 75,000 crore, with plans underway to reduce this debt.

With rising cyber-attacks posing a serious threat to financial stability, the CM announced plans to transform the Cyber Security Centre into a full-fledged corporation to bolster digital security. Earlier, the Maharashtra government inaugurated the Cybercrime Investigation Capacity Centre in Mahape, Navi Mumbai, to enhance cybercrime investigations, strengthen cyber policing, and conduct corporate cyber audits. All corporate entities in Maharashtra will be required to undergo mandatory annual cyber audits by government-approved firms to assess potential threats and ensure advanced security measures. Non-compliant companies will face a fine of Rs25,000 per day.

The CM further added that the state has broken its own record in attracting investments. At the Davos World Economic Forum, the state secured investment agreements worth approximately Rs15.7 lakh crore through 54 deals. Maharashtra leads other states in successfully implementing projects post-investment agreements, with a project execution rate between 80% and 91%.

Under the Pradhan Mantri Awas Yojana, 20 lakh houses have been approved in Maharashtra within the first year. To further support education for girls, the state government plans to increase the current 50% tuition fee concession to 100%.

The state government has announced that all rural roads connecting villages will be converted into cement concrete roads. Around 14,000 km of rural roads will undergo this transformation, benefiting approximately 4,000 villages with a population of over 1,000.

A new Shaktipeeth Highway will be developed from Nagpur to Goa, beginning at Sevagram in Wardha district. Passing through 12 districts, this highway will connect major religious sites, accelerating development in Marathwada.