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Maharashtra Budget 2022-23: State to be the first to have $1-trn economy

Presenting the budget in the state assembly, Pawar said Maharashtra has become the first state in the country to formulate an agricultural export policy

Ajit Pawar

Ajit Pawar | Photo: @AjitPawarSpeaks

ANI Business
Maharashtra is set to become the first state in India to have a trillion-dollar economy, Maharashtra's Deputy Chief Minister Ajit Pawar, who also holds the finance portfolio, said while presenting the state's Budget for 2022-23.
The state's revenue receipts for the financial year 2022-23 is pegged at Rs 4,03,427 crore, while revenue expenditure is estimated at Rs 4,27,780 crore, resulting in a revenue deficit of Rs 24,353 crore.
Presenting the budget in the state assembly, Pawar said Maharashtra has become the first state in the country to formulate an agricultural export policy.
"Budget 2022-23 reflects Maharashtra's aspirations to achieve our goal of a one trillion dollar economy. With the practical implementation of 5 aspects, namely Agriculture, Health, Infrastructure, Transport and Industry, we will pave the way for a sustainable & prosperous Maharashtra," Maharashtra Chief Minister Uddhav Thackeray said in a tweet.
An outlay of Rs 115,215 crore is proposed for five focus areas - agriculture, health, infrastructure, transport and industry. Pawar said Rs 4 lakh crore will be provided for these sectors in the next three years.
The government introduced an incentive grant of Rs 50,000 to 20 lakh farmers who repay their loans regularly. The estimated expenditure on this scheme is Rs 10,000 crore.
Loan waiver of Land Development Bank Rs 964 crore for 34,788 farmers, Rs 275.40 crore dues of bank employees will be cleared, the minister said.
He further announced that Rs 1000 crore will be provided in 3 years for a special action plan for soyabean and cotton crops.
Moreover, the minister also announced hospitals for women in several districts and an allocation of Rs 100 crore for start-ups.
The Finance Minister announced that Rs 100 crore will be allocated for Music University that will be established inside Kalina University in the name of late Bharat Ratna Lata Mangeshkar.
The budget has made provision for works of Shirdi, Ratnagiri, Amravati and Kolhapur Airport, and a new airport at Gadchiroli under consideration.
There is also a provision of Rs 7500 crore for 10,000 km roads under Mukhyamantri Gram Sadak Yojana Phase-II and 6550 km road improvement under Prime Minister's Village Road Scheme Phase-3.
The government proposes to create nearly 1 lakh employment opportunities through 30,000 self-employment projects under Chief Minister Employment Generation Programme.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Mar 11 2022 | 10:23 PM IST

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