Ajit Pawar Presents Interim Budget with Rs 99,288 Cr Fiscal Deficit in Election Year
Mumbai: Maharashtra deputy chief minister Ajit Pawar on Tuesday presented an interim budget of the state without revising existing taxes or introducing new ones with an estimated revenue deficit of Rs 9,734 crore and fiscal deficit of Rs 99,288 crore. Substantial provision for the Navi Mumbai Airport, Atal Setu and Mumbai Coastal Road, world heritage status for 11 forts are the major announcements made by Pawar in the budget.
Since this is an election year, the budget is going to be interim, in which provision is made for the government’s expenditure for the next 4 months.
Pawar, who holds finance and planning departments, has made a provision of Rs 6.52 lakh crore for the total expenditure while revenue receipts are estimated to be Rs 4.98 lakh crore and revenue expenditure of Rs 5.08 lakh crore.
Pawar, who said that he will present a full budget after the Lok Sabha elections in the monsoon session, has projected an annual plan of Rs 1.92 lakh crore, Scheduled Caste Plan Rs 15,893 crore and Tribal Development Sub Plan of Rs 15,360 crore.
During his budget speech, Pawar said that Maharashtra is on track to become a USD 1 trillion economy. “The government aims to expand the state’s economy to USD 1 trillion through sustainable, environment-friendly and inclusive development,” he said.
‘Maharashtra Bhavan’ guest houses will be constructed in Srinagar and Ayodhya to provide facilities to visitors from Maharashtra. Local authorities have provided land at prime locations for these guest houses for which a provision of Rs 77 crore will be made, the minister said.
Pawar announced that the land acquisition in Maharashtra for the Bullet Train project — Prime Minister Modi’s flagship project — is nearing completion. The Maharashtra State Infrastructure Development Corporation has been established to execute projects in 22 infrastructural sectors including roads, ports, airports, railways, metros, and electricity. This corporation will oversee road works spanning 7,500 km under Annuity Scheme Part 2. An outlay of Rs 10,629 crores is proposed under scheme expenditure for the Urban Development Department and Rs 19,936 crores for the Public Works (Roads) Department for the year 2024-25, he said.
