Maharashtra aims to become USD 1 trillion economy: CM Uddhav Thackeray

Chief minister said MVA’s third budget was aimed at all-round development of the state

Uddhav Thackeray, chief minister of Maharashtra, said on Friday that the third budget of the Maha Vikas Aghadi (MVA) was aimed at all-around development of the state, which was in a revival mode after the impact of the Covid-19 pandemic, and a step towards becoming a $1 trillion economy.

Earlier, Deputy Chief Minister Ajit Pawar, who also holds the finance portfolio, presented in the Assembly the budget for 2022-23 and pegged the revenue deficit at Rs 24,353 crore for the next fiscal. As per budget estimates, revenue receipts would be to the tune of Rs 4,03,427 crore and revenue expenditure Rs 4,27,780 crore.

Talking to reporters in the Vidhan Bhavan press room, Thackeray said a five-point development programme envisaged in the budget proposals will fulfil the objective of Maharashtra becoming a $1 trillion economy, a size not achieved by any state in the country so far.

Booster dose

He said agriculture, health, human resources, transport and industry sectors have got a “booster dose” in the budget. At the same, the CM said, the budget focuses on common citizens and protects weaker sections of the society.

Thackeray said the budget makes it clear that despite challenges posed by the COVID-19 outbreak and natural disasters, the state’s development has been sustained.  Tabling the third budget of the Shiv Sena-NCP-Congress government in the Legislative Assembly, Pawar said a provision of Rs 1,50,000 crore has been made for the annual plan.

The tax revenues as per the revised estimate for year 2021-22 would be Rs 2,75,498 crore. This includes revised estimate of Rs 1,55,307 crore on account of GST, VAT, Central Sales Tax, Professional Tax and other important taxes.

There would be an amnesty scheme for GST arrears, to be called the ‘Maharashtra Settlement of Arrears of Tax, Interest, Penalty or Late Fee Scheme, 2022’, the finance minister said. The duration of the scheme will be from April 1, 2022, to September 30, 2022.

Waiver of stamp duty of 0.1 per cent on gold and silver delivery order documents will lead to revenue shortfall of Rs 100 crore. Tax levied by the Maharashtra Maritime Board on passengers as well as pets, vehicles and goods travelling by ferries and Ro-Ro boats has been waived for three years.

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