SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 10 Mar, 2023  

Rupee.9.Thmb.jpg Maha proposes Rs 547,450 cr budget with huge fiscal, revenue deficits
   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
IANS | 09 Mar, 2023
Maharashtra's Deputy Chief Minister Devendra Fadnavis, who also holds the finance portfolio, presented a Rs 547,450 crore budget for 2023-2024 showing huge fiscal and revenue deficits, here on Thursday.

As per the budget estimates, the state plans to spend Rs 547,450 crore with an estimated revenue receipts of Rs 449,522 crore over a revenue expenditure of Rs 465,645 crore, resulting in a revenue shortfall of Rs 16,211 crore - down from Rs 24,353 crore over 2022-2023.

The state remains at the lead in fiscal reforms, consistently maintaining the revenue deficit below 1 per cent of the state gross domestic product (SGDP).

The state government has also succeeded in keeping the fiscal deficit below 3 per cent of the SGDP, and the fiscal deficit for 2023-2024 is estimated at a whopping Rs 95,500.8 crore - up from Rs 89,598 crore over 2022-2023.

Fadnavis said that the budget is based on five major goals � �Panchamrut' � covering the farmers, inclusive development, infrastructure, employment and environment.

Accordingly, he has allocated Rs 29,163 crore for sustainable farming and prosperous farmers; Rs 43,036 crore for inclusive development of all sections of society, including women, children, tribals, BC/OBCs; Rs 53,058.55 crore for infrastructure development with substantial capital investment; Rs 11,658 crore for competent, skilled jobs creation for the youth; and Rs 13,437 crore for environment-friendly development.

The budget's outlay for scheme expenditures has been fixed at Rs 172,000 crore, including Rs 13,820 crore for Scheduled Caste Plan and Rs 12,655 crore for Tribal Sub-plan, besides announcing several new corporations for different communities to boost their economic development, said Fadnavis.

The state's debt burden, as per the latest RBI report, stood at Rs 6.8 lakh crore till March 31, 2023, standing behind Tamil Nadu (Rs 7.53 lakh crore) and Uttar Pradesh (Rs 7.1 lakh crore).
Print the Page
Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
COVID-19 has directly affected your business
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter