Interim budget with revenue deficit of over Rs 19,000 crore tabled in Maharashtra Legislative Assembly

Devendra Fadnavis described it as a balanced budget which has provisions for all sections of the society and has a strong resolve to continue the march on the development path.

Published: 27th February 2019 05:44 PM  |   Last Updated: 27th February 2019 05:44 PM   |  A+A-

Maharashtra Finance Minister Sudhir Mungantiwar

Maharashtra Finance Minister Sudhir Mungantiwar (File | PTI)

By Express News Service

MUMBAI: Maharashtra Finance Minister Sudhir Mungantiwar on Wednesday presented the interim budget with estimated revenue deficit to be at Rs 19,784 crore in for the year 2019-20. Revenue deficit for 2018-19 has been revised to Rs 14,960 crore.

While the actual revenue figures were higher than the estimated figures as an effect of the GST, the drought relief measures, loan waiver, irrigation and other measures for farmer welfare were the additional burdens this year, the finance minister told the state legislature as he presented the budget.

As expected the budget has several provisions for the agricultural sector. However, Mungantiwar has refrained from making any populist announcements in his interim budget.

Chief Minister Devendra Fadnavis described it as a balanced budget which has provisions for all sections of the society and has a strong resolve to continue the march on the development path.

The election-year budget has an outlay of Rs 8,733 crore for irrigation projects with special focus on Vidarbha, Marathwada and areas under drought-prone area development plan, Rs 3,498 crore for various schemes of agriculture department, Rs 2000 crore from contingency fund for drought relief measures, Rs 1,500 crore for the water and soil conservation program JalYukta Shivar, Rs 900 crore for new electrical connections to agricultural schemes and Rs 5,210 crore for concessions in electricity tariff to agriculture consumers.

The finance minister has also allocated Rs 8,500 crore for road development, Rs 3,700 crore for development of roads under Hybrid Annuity model, Rs 2,164 crore under Chief Minister Gram Sadak Yojana and Rs 6,306 crore for infrastructure facilities and other works of energy department. An outlay of Rs 1,097 crore under Integrated Child Development Scheme, Rs 2,892 crore for welfare of other backward class, Vimukta Jati, Nomadic Tribes and special backward class and Rs 465 crore for development of minorities, too were proposed by him.

The revenue receipts have been estimated at Rs 3,14,489 crore against the revenue expenditure of Rs 3,34,273 crore. Public debt has been reported at Rs 4,14,411 crore against estimated Rs 4,61,807 crore. Through the conscious efforts the government avoided raising loan of Rs 11,990 crore, the finance minister said. The state still has much fiscal scope to raise more loans, he added while replying to opposition allegations over the issue.

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