Maharashtra budget

The Eknath Shinde-led Maharashtra government on Thursday presented its maiden budget

 with an outlay of ₹1.72 lakh crore for 2023-24, offering aid of ₹6,000 and a ₹1 crop insurance scheme for farmers, and tax relief and 50% discount on fares in State-run buses for women.

“The first budget of the ‘amrit kaal’ is based on ‘panchamrit’ (five) principles,” said Deputy Chief Minister Devendra Fadnavis, who holds the finance portfolio, while reading out the budgetary allocations from an iPad in the State Assembly.

“The first ‘amrit’ is sustainable farming and prosperous farmers. The second is inclusive development of all sections of society, including women, tribal people, backward classes and OBCs. The third is development of infrastructure with substantial capital investment. The fourth ‘amrit’ is employment generation for competent, skilled and employable youth, and the fifth is environment-friendly development,” he said.

Budget estimates

Mr. Fadnavis presented a revenue deficit budget of ₹16,222 crore with a provision of ₹5.47 lakh crore for expenditure. As per the budgetary estimates, revenue receipts have been pegged at ₹4.49 lakh crore, revenue expenditure at ₹4.65 lakh crore and fiscal deficit at ₹95,500 crore.

The Finance Minister also announced that the Jalyukta Shivar Yojana 2.0

will be implemented in 5,000 villages. Mr. Fadnavis had launched the scheme when he was the Chief Minister (2014-19), but it was discontinued when the Uddhav Thackeray-led Maha Vikas Aghadi alliance came to power after the 2019 Assembly election.

The budget proposed the ‘Namo Shetkari Mahasanman Nidhi’ scheme

under which every farmer in the State will get ₹6,000 in addition to the ₹6,000 given under the PM Kisan Samman Nidhi every year. “An additional outlay of ₹6,900 will be made in 2023-24. As many as 1.15 crore farmer families will benefit from it,” he said.

Mr. Fadnavis also allocated ₹3,312 crore for the Pradhan Mantri Fasal Bima Yojana, a ₹1 crop insurance scheme. “Under the earlier scheme, farmers had to pay 2% of the premium. Now, the government will pay the amount,” he said.

Insurance for crops

 ensures that in case of a natural calamity, if crops are destroyed, farmers will receive money as compensation, ensuring their survival. The Rs 12,000 annual welfare payment ensures that farmers have extra cash for their emergency needs.

 Organic farming is another thrust of the Budget, ensuring the preservation of the environment and reducing the usage of toxic pesticides, keeping in mind soil health and the health of citizens.

Announcing the ‘Lek Ladki’ scheme

 for the empowerment of girls, Mr. Fadnavis said for yellow and orange ration card holder families, a subsidy of ₹5,000 will be given after the birth of a girl child, ₹4,000 in Class I, ₹6,000 in Class VI and ₹8,000 in Class XI. After completing 18 years, ₹75,000 in cash will be given to the beneficiary, Mr. Fadnavis said.

The reduction of 50 per cent in ticket prices in state transport buses, a program to monitor the health of women across the state, and an increase in the monthly salary of Anganwadi and Asha workers are key instruments of the state's efforts to ensure the delivery of welfare schemes at the grassroots level.

The Minister said women will be given a 50% discount on ticket fares in Maharashtra State Transport Corporation buses and a waiver on professional tax on monthly salary of up to ₹25,000.

Employment generation and harnessing of the demographic dividend 

is a key goal of the Shinde-Fadnavis government. For this, Fadnavis announced the creation of a new logistics hub in Nagpur, Nashik, Mumbai, Pune, Ratnagiri, and Chhatrapati Sambhaji Nagar. 

The Budget also has a provision for a skill development program in 500 village panchayats, along with the opening of government medical colleges in Wardha, Buldhana, Parbhani, Dharashiv, Sindhudurg, Satara, and many other districts of the state