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Maharashtra Budget 2019
The Finance Minister, Mr. Sudhir Mungantiwar, presented the additional budget for Maharashtra for financial year 2019-20 on June 18, 2019. The Minister had previously presented the interim budget for the state in February 2019.
- The Gross State Domestic Product (GSDP) of Maharashtra for 2019-20 (at current prices) is estimated to be Rs 29,79,556 crore. This is 12% higher than the revised estimate for 2018-19.
- Total expenditure for 2019-20 is estimated to be Rs 4,04,794 crore, an 8.5% increase over the revised estimate of 2018-19. In 2018-19, as per the revised figures, there is estimated to be an increase of Rs 5,954 crore (1.6%) of expenditure over the budgeted estimate.
- Total receipts (excluding borrowings) for 2019-20 are estimated to be Rs 3,16,930 crore, an increase of 9.8% as compared to the revised estimate of 2018-19. In 2018-19, total receipts (excluding borrowings) are estimated to be higher than the budgeted estimate by Rs 512 crore.
- Revenue deficit for 2019-20 is targeted at Rs 20,293 crore, or 0.68% of the Gross State Domestic Product (GSDP). Fiscal deficit is targeted at Rs 61,670 crore (2.07% of GSDP).
- Sectors such as rural development (62%), water supply, sanitation, housing and urban development (26%), and education (25%) saw the highest increase in allocations. On the other hand, social welfare and nutrition (33%) and agriculture (25%) saw the highest decrease in allocations.
- Chief Minister Employment Generation Programme: The New Industrial Policy of Maharashtra aims to generate 60 lakh new employment in the state. For this, a new scheme called Chief Minister Employment Generation Programme has been launched. The scheme aims at establishing 10,000 new small industries.
- Infrastructure facilities: An amount of Rs 55,335 crore is expected to be spent on constructing the Nagpur-Mumbai express highway. Further, Rs 11,332 crore is allocated for the development of the Bandra-Versova Sea Link. The government aims to construct 3,36,994 km. length roads till 2021.
- Artificial rain: To overcome drought in the state, an approval has been given for artificial rain experiment by aerial cloud seeding. This has been done to increase rainfall using modern technology.
Budget Estimates for 2019-20
- The total expenditure in 2019-20 is targeted at Rs 4,04,794 crore. This is 8.5% higher than the revised estimate of 2018-19. This expenditure is proposed to be met through receipts (other than borrowings) of Rs 3,16,930 crore and borrowings of Rs 77,196 crore. In 2019-20, receipts (other than borrowings) are expected to be 9.8% higher than the revised estimate of 2018-19.
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