Peshwa Balaji Vishwanath was a great statesman and an able administrator. He restored peace and order in the Maratha Kingdom.
He also improved the financial condition of the state.
He helped Hussain Ali, one of the Sayyid brothers in the struggle for power. In return, the Mughal ruler of Delhi handed back all the territories to the Marathas that had once belonged to Shivaji but had been subsequently conquered by Aurangzeb.
The Marathas also got the right to realize Chauth and Sardeshmukhi from six Mughal provinces in the Deccan. Thus, Peshwa Balaji Viswanath restored the prestige and power of the Marathas. For this reason he is regarded as the second founder of the Maratha Empire. He died in 1720 A.D.