Maharashtra Finance Minister Ajit Pawar presented a Rs 600,522 crore interim Budget for 2024-25 with a revenue deficit of Rs 9,734 crore. The Budget proposed no new taxes. A supplementary Budget (full Budget) will be presented after the Lok Sabha elections. The state has projected revenue receipts of Rs 498,758 crore and revenue expenditure of Rs 508,492 crore, in turn reflecting a revenue deficit of Rs 9,734 crore. The Budget primarily focuses on the implementation of welfare schemes for the youth, women, the poor and farmers. The state aims to expand the state's economy to USD 1 trillion through sustainable, environment-friendly and inclusive development.
Budget proposes an outlay of Rs 1.92 lakh crore which includes Rs 15, 893 crore for Scheduled Castes Sub Plan and Rs 15,360 crore for Tribal Development Sub Plan. The state fiscal deficit for 2024-25 is projected at Rs 99,288 crore. A scheme would be brought in to provide pink auto-rickshaws to 5,000 women in ten major cities. An amount of Rs 22,225 crore was being raised for the Virar-Alibag Multimodal Corridor, Rs 10,519 crore for Pune Ring Road and Rs 2,886 crore for Jalna-Nanded Expressway for land acquisition. In Konkan, three of the nine major bridges on the coastal highway between Rewas to Reddi have received administrative nod and tenders are being floated. Land acquisition for Mumbai-Ahmedabad Bullet Train project is almost complete in Maharashtra, he noted. The work of the Navi Mumbai Airport is progressing speedily and the first phase will be operational by March 2025.
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