In what is the last budget for the current term, Chief Minister Devendra Fadnavis-led Maharashtra government presented the state budget for FY20 on Tuesday in the state assembly.
In what is the last budget for the current term, Chief Minister Devendra Fadnavis-led Maharashtra government presented the state budget for FY20 on Tuesday in the state assembly. The budget with a revenue deficit of Rs 20,292.94 crore, higher than last year’s deficit of Rs 14,960.04 crore, comes three months before state elections. The government laid out a Rs 4.05 lakh crore expenditure plan with key allocations to areas such as agriculture, irrigation and infrastructure, welfare of women, backward and other backward classes and tribals. On Monday, the Economic Survey was released by Government of Maharashtra for 2018-19.
Presenting the budget proposals in the assembly, State Finance Minister Sudhir Mungantiwar said that a revenue expenditure of Rs 3,34,933.06 crore against revenue receipts of Rs 3,14,640.12 crore was expected by the government. The budget proposes Rs 12,000 crore for irrigation sector, Rs 350 crore for micro-irrigation, Rs 1,000 crore for development of Dhangar community, Rs 200 crore for OBC Corporations, Rs 600 crore for research by four agricultural universities and Rs 100 crore for construction of houses for Divyang.
It also proposes for Rs 12,597 crore for water resources department and Rs 600 crore for setting up four agriculture universities.The annual outlay has been increased to tackle agriculture related problems such as drought, water shortage, low prices of agriculture produce, water irrigation schemes among others.
Meanwhile, the Economic Survey tabled yesterday by the government said that the economic growth in Maharashtra has been higher than that of the country in FY19, adding the growth was aided by the services segment which advanced by 9.2 per cent this year. The inflation in FY19 was marginally lower than the all-India number, it added.