MUMBAI: Maharashtra Finance Minister, Ajit Pawar, presented on Tuesday the interim annual budget for 2024-25, totalling Rs 6.522 lakh crore, with a fiscal deficit of Rs 99,288 crore alongside a revenue deficit budget of Rs 9,734 crore.
Commencing his budget speech with verses from the renowned Marathi poet Kusumagraj on his birth anniversary, which coincides with Marathi Language Day, Minister Ajit Pawar announced a series of incentives and schemes in anticipation of the 2024 Lok Sabha and state assembly elections. He clarified that this interim budget is only applicable for four months, with the main budget slated for later presentation.
Ajit Pawar articulated the state’s ambition to elevate Maharashtra’s economy to the one trillion mark, aligning with Prime Minister Narendra Modi’s vision for a 5 trillion dollar Indian economy. Highlighting key allocations, Pawar mentioned a provision of Rs 77 crore for the acquisition of land in Ayodhya and Srinagar to develop Maharashtra Bhavan. Additionally, he underscored the government’s commitment to preserving the forts of Chhatrapati Shivaji Maharaj and pursuing UNESCO World Heritage Site status for them, coinciding with the 350th anniversary celebrations of Maharaj’s coronation.
Expressing gratitude towards Prime Minister Narendra Modi, Pawar acknowledged Rs 8,618 crore received as tax compensations under GST and Rs 7,075 crore sanctioned as interest-free loans for 50 years under the special assistance scheme for capital investment. He allocated Rs 1,554 crore in the interim budget for railway projects.
Jharkhand loan waiver
Jharkhand government announced an increase in loan waiver for farmers from Rs 50,000 to Rs 2 lakh. Tabling the budget of Rs 1.28 lakh crore for the 2024-25 fiscal in the Assembly, finance minister Rameshwar Oraon also announced to include farmers holding NPA accounts in this scheme.