Maharashtra presents interim budget for 2019-20 with Rs 19,784 cr estimated revenue deficit

Mumbai, Feb 27 (IANS) Maharashtra Finance Minister Sudhir Mungantiwar presented the interim budget for the fiscal 2019-20 with an estimated deficit of Rs 19,784 crore, here on Wednesday.

With an eye on the upcoming elections, the budget has also made a special provision for the farm debts waiver, though the state's outstanding debt has shot up to Rs 414,411 crore or 14.82 per cent of the state's Gross Domestic Product.

According to the budgetary provisions, the revenue receipts are expected at Rs 314,489 crore against an estimated revenue expenditure of Rs 334,273 crore, he said.

The state's annual plan outlay has been fixed at Rs 99,000 crore for implementing various schemes and Mungantiwar assured that the government would attempt to rein in deficits by scrapping unnecessary expenses and effectively augmenting revenues.

However, he attributed the deficit to the implementation of the Seventh Pay Commission recommendations which were approved last year and which burdened the state's finances.

Among the major provisions are Rs 90 crore for a skill development programme in the memory of late Union Minister Pramod Mahajan, Rs 8,431 crore towards a tribal sub-plan and Rs 9,000 crore for district annual plans.

Last year, the revenue deficit of Rs 15,374 crore was controlled to Rs 14,960 crore in the current fiscal.

Minister of State for Finance Deepak Kesarkar tabled the interim budget in the Legislative Council.

Lauding the budget, Chief Minister Devendra Fadnavis said the provisions cover all sections, including farmers, agriculture, health, women and housing, and the state's path of progress will continue unhindered till the full budget is presented after four months.

Criticising the interim budget proposals, Leader of Opposition Radhakrishna Vikhe-Patil, said it will add to the miseries of the farming community and other sections of the people, since it is without any concrete proposal and only makes promises.