Maharashtra Budget session 2024: Ajit Pawar’s interim budget focuses on infrastructure, welfare (2024)

Maharashtra Deputy Chief Minister Ajit Pawar, who holds the Finance and Planning portfolios, on Tuesday presented interim budget for FY 2024-25.

Ajit Pawar presented budget

On Tuesday, February 27, Maharashtra Deputy Chief Minister and Finance Minister Ajit Pawar presented the Interim Budget for the fiscal year 2024-25. The budget is aimed at bolstering the state's infrastructure, welfare schemes and tourism initiatives.

During his budget speech, Pawar said that Maharashtra is on track to become a USD 1 trillion economy. In his speech he also said highlighted the initiatives the government is taking to strengthen the state's economy. To promote industrial development, Ajit Pawar in the budget announced the revision of policies and incentives including the establishment of garment industry complexes and export promotion initiatives. Furthermore, Pawar, in his budget, placed emphasis on skill development, employment generation, and the establishment of small-scale industries. In his budget speech, Pawar also said that nearly one lakh women will be given employment opportunities in the coming year.

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The Minister announced that new Micro and Small Enterprise police will be implemented starting this year and under it 18 small-scale industries will be established in Maharashtra. He added that over 3 lakh industries will be coming to the state as per the agreements signed at Davos. He also noted that Rs 10,000 crore had been allocated to the urban development department while Rs 19,000 crore had been reserved for public works. Pawar added that Rs 15, 554 crore has been allocated for railway lines and projects in Maharashtra.

He also said that 7,000 km of road works will be completed in the financial year. He said that the Swatantrya Veer Savarkar Versova-Bandra Sea Link and the Vilasrao Deshmukh Eastern Freeway will be extended. Additionally, substantial funds have been allocated for land acquisition for multi-modal corridors and expressways.

Pawar in the budget modelled after that of the Union government, included various schemes targeting women, children, and marginalised communities with provisions for housing, employment, and financial assistance.

Pawar, in his speech, said that solar energy sets will be provided to 37,000 Anganwadis who do not have access to electricity in the state and added that a Solar Agricultural Pump scheme will be launched for farmers wherein 8,50,000 new solar-powered agricultural pumps will be installed in farmlands across Maharashtra.

On Monday, Ajit Pawar tabled supplementary budgetary demands worth Rs 8,609 crore. These are additional expenses for which funds are required by govt beyond the allocation of last year's budget. Pawar, who holds the finance and planning departments, presented supplementary demands of Rs 8,609.17 crore against Rs 55,520.77 crore tabled in the winter session last year.

Supplementary budget presented on Monday

Of the 8,609.17 crore, supplementary demands worth Rs 5,665.48 crore are for mandatory spending and demands worth Rs 2,943.69 crore are required for various ongoing programmes and schemes. Despite supplementary demands of Rs 8,609.17 crore, the net burden will be Rs 6,591.45 crore.

As per the supplementary demands note, demands of Rs 2,210 crore were for financial assistance to farmers whose crops were destroyed due to the unseasonal showers, hailstorms and water scarcity.

Meanwhile, demands of Rs 1,438.78 crore were for repayment of outstanding loans of Mumbai Metro Line 3, Nagpur Metro Line and Pune Metro Line.

Maharashtra government has budgeted Rs 1,328 crore for arrears of various allowances provided to judicial officials, Rs 800 crore for providing civic amenities to municipal corporations and councils and nagar panchayats, Rs 485 crore to Maharashtra State Road Transport Corporation for employee salaries and Rs 432.85 crore for pension and other retirement benefits of high court judges. Another Rs 251 crore
has been allocated as transport cess for MSRTC.

During the winter session in December last year, supplementary demands of Rs 55,520.77 crore were tabled in the state legislature and eventually cleared.

The five-day Maharashtra Budget session commenced on Monday and an interim budget for the year 2024-25 will be presented by the state government on Tuesday. The session will be held till March 1, during which Deputy Chief Minister and Finance Minister Ajit Pawar will present the interim budget in the election year.

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