Maharashtra's outstanding debt is expected to rise by 11.1 per cent in 2025-26, though the overall debt burden will remain within the limits prescribed under fiscal responsibility norms, according to the Economic Survey 2025-26 tabled in the state legislature. The survey, which was tabled on Thursday, said the Debt-to-Gross State Domestic Product (GSDP) ratio is estimated at 18.3 per cent in 2025-26, well below the 25 per cent ceiling stipulated under Maharashtra Fiscal Responsibility and Budget Management (FRBM) Rules 2006. "The state's total outstanding debt is estimated at around Rs 9.3 lakh crore in 2025-26, comprising accumulated public debt and other liabilities. Domestic borrowings account for the major share of the debt stock," it said. According to the survey, domestic debt alone is projected at Rs 7,39,859 crore, accounting for 79.4 per cent of the total outstanding debt of the state. It added that the state government mainly raises resources through market borrowings and