Balaji Vishwanath to Bajirao I — Key Changes

Entry	Year	Description	Impact
Institutionalization of Hereditary Peshwaship	1713 (initial appointment), 1720 (Bajirao's succession)	This refers to the critical shift where the office of the Peshwa, initially an appointed ministerial post, became effectively hereditary within the Bhat family. Balaji Vishwanath's indispensable service led to his appointment, and upon his death, Chhatrapati Shahu's decision to appoint his son, Bajirao I, solidified this precedent. This was not a formal constitutional amendment but a de facto change in the power structure, transforming the nature of Maratha governance.	It centralized immense executive, administrative, and military power in the hands of the Peshwa, gradually diminishing the Chhatrapati's direct authority to a largely ceremonial role. This institutionalized continuity in leadership and policy, enabling long-term strategic planning and aggressive expansion, but also sowed seeds for future internal rivalries among Maratha sardars and the Peshwa.
Formalization of Chauth and Sardeshmukhi Rights (Mughal Farman)	1719	Through Balaji Vishwanath's diplomatic efforts, the Mughal Emperor Farrukhsiyar (via the Sayyid Brothers) issued a farman granting the Marathas the legal right to collect Chauth (25% of revenue) and Sardeshmukhi (an additional 10%) from the six Deccan subahs. This was a formal recognition of Maratha claims over vast territories, transforming their revenue collection from mere plunder to a legally sanctioned right, albeit under Mughal suzerainty.	This provided a legitimate and substantial financial base for the Maratha state, fueling its military expansion and administrative machinery. It also gave the Marathas a legal pretext for intervention in the internal affairs of the Deccan provinces, further eroding Mughal authority and paving the way for Maratha political dominance in the region.
Reorganization of Military Grants (Sarjam System Refinement)	Early 18th Century (consolidated under Bajirao I)	While elements existed earlier, Bajirao I significantly refined and expanded the Sarjam system, a method of granting land (jagirs) to military commanders (sardars) in lieu of cash salaries, with the explicit condition of maintaining troops for the state. This system was crucial for mobilizing large armies for expansionist campaigns, particularly in the newly conquered territories.	The Sarjam system enabled the rapid expansion of the Maratha Empire by decentralizing military recruitment and maintenance. It fostered a class of powerful Maratha sardars (like Holkar, Sindhia, Gaekwad, Bhonsle) who became semi-autonomous regional rulers, forming the Maratha Confederacy. While effective for expansion, it eventually led to fragmentation of authority and internal conflicts, contributing to the empire's later weaknesses.