Scheduled business is both houses could not be taken up due to continuous disruptions.

Maharashtra Budget:

The Finance Minister of Maharashtra, Mr. Sudhir Mungantiwar, presented the Budget for financial year 2018-19 on March 9, 2018.

Some key observations analysing the budget presented are:

Maharashtra’s economy and sectoral growth: Agriculture contributes 11.9% to the GSDP, industry and services contribute 33.6% and 54.5% respectively. The GSDP is estimated to grow at 7.3% in 2017-18, lower than the 10% growth in 2016-17. The real growth of the agriculture sector is expected to register negative growth at -8.3% in 2017-18 as compared to 22.5% in 2016-17.

Revenue receipts in the form of central grants are expected to fall by 6.2% in 2018-19.  On the other hand, the state’s share in central taxes is expected to rise by 16.9% in 2018-19.  This is primarily due to an increase in receipts from Integrated Goods and Services Tax (IGST) and Corporation Tax. 

Maharashtra witnessed an increase in tax collections during 2017-18.  The tax and non-tax revenues (revised estimates) of the state are expected to be more than what was budgeted for in 2017-18 by 7.5% each

Revenue deficit increased from a budgeted target of Rs 4,511 crore to a revised estimate of Rs 14,843 crore (229% increase) in 2017-18. This may be attributed to the excess expenditure in the agriculture (due to farm loan waiver) and energy sectors, and implementation of the 7th Pay Commission Recommendations.

Our detailed analysis of the Budget can be accessed here.

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