Mumbai (Maharashtra) [India]: Buyers of high-end electric vehicles (EVs) in Maharashtra may face higher costs starting next month, following the introduction of new taxes in the state budget.
As per the Maharashtra government’s budget proposal, electric vehicles priced above ₹30 lakh will now attract a 6% tax. This move is expected to generate additional revenue for the state treasury.
In addition, the government has announced a 1% tax hike on privately-owned CNG and LPG four-wheelers. Currently, the motor tax in Maharashtra ranges between 7% and 9%.
To accommodate these changes, the state has increased the maximum threshold for Motor Vehicle Tax from ₹20 lakh to ₹30 lakh, a measure projected to bring in over ₹170 crore in revenue.
Maharashtra’s Deputy Chief Minister and Finance Minister Ajit Pawar presented the 2025-26 Budget on Monday. Highlighting his vision for development, Pawar emphasized the state’s commitment to fast-tracking growth with the slogan:
“Maharashtra will stop no more… development won’t be delayed anymore.”
Additionally, Pawar announced the “Maharashtra Tax, Interest, Penalty or Delayed Fee (Public Sector Companies) Debt Settlement Act, 2025”, which will remain in effect until December 31, 2025.
Key Budget Highlights:
✅ Fiscal deficit maintained below 3% of the Gross State Domestic Product (GSDP)
✅ Revenue deficit remains below 1% of the GSDP
✅ Goal to expand the Mumbai Metropolitan Region’s economy to USD 300 billion by 2030 and USD 1.5 trillion by 2047
✅ Introduction of a new Industrial Policy under the “Make in Maharashtra” initiative, targeting ₹40 lakh crore investment and creating 50 lakh jobs in the next five years