Maharashtra Finance Minister Ajit Pawar presented the budget deficit of Rs 10,226 crore in the assembly on Monday. On the occasion of International Women’s Day, in the budget of 2021-22, a rebate of one percent in stamp duty has been proposed for women. In the budget, a project has been announced to build a 170-km mudra-road in Pune, which will cost an estimated Rs 26,000 crore.
Ajit Pawar has estimated revenue collection of Rs. 3,68,987 crore while revenue expenditure is estimated at Rs. 3,79,213 crore. Pawar, who is also holding the responsibility of the Deputy Chief Minister, said that the corona virus epidemic has had a very adverse effect on the state’s economy. According to the revised estimate, tax revenue is expected to be Rs 2,18,263 crore in 2020-21.
He said that it would not be easy to get the revised revenue estimates in view of the current softening in the economy of the country and the state. But the government will make every effort to achieve the revised target. The Finance Minister said, « On the occasion of International Women’s Day, I propose a one percent rebate in the existing stamp duty. This exemption will be given to women in whose name property is transferred or property is registered. «
He said that this rebate would have an impact of Rs 1,000 crore on the revenue. « Pawar proposed to increase the state excise duty on liquor. Domestic liquor will be categorized into two categories… branded and non-branded. Excise duty will be levied on branded country liquor only at the rate of 220 per cent of the manufacturing cost or Rs 187 per liter, whichever is higher.
With this, the government exchequer will receive an additional Rs 800 crore. A provision of Rs 58,748 crore has been made for infrastructure development in the budget. According to the Finance Minister, the fiscal deficit in the budget is estimated at Rs 66,641 crore. Pawar told that the work of land acquisition for Pune Mudrika-Marg will be started this year. He said that there is a movement of vehicles in Pune city for a large number of people and for transporting goods. The formation of mudra-road will reduce congestion inside the city.
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