In a landmark development, electricity consumers in Maharashtra can look forward to a substantial reduction in power tariffs.

On Wednesday evening, Chief Minister (CM) Devendra Fadnavis announced that Maharashtra is set to reduce electricity tariffs by a cumulative 26 per cent over the next five years. The reduction will be implemented in phases, with a 10 per cent cut in the first year.

In a post on social media X, Fadnavis said that this is the first time such a decision has been taken in the state's history.