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Maharashtra Govt Presents Rs 20,292 Crore Revenue Deficit Budget Months Before Assembly Polls

Maharashtra government Tuesday presented an additional budget for 2019-20 with a revenue deficit of Rs 20,292.94 crore, higher than last year’s deficit of Rs 14,960.04 crore.

The government has estimated revenue expenditure of Rs 3,34,933.06 crore against revenue receipts of Rs 3,14,640.12 crore, said Finance Minister Sudhir Mungantiwar, who tabled the budget proposals in the Legislative Assembly.

The budget, which comes three months before state elections, envisions development of agriculture, irrigation and infrastructure and on welfare of women, backward and other backward classes and tribals.

It proposes Rs 12,000 crore for irrigation sector, Rs 350 crore for micro-irrigation, Rs 1,000 crore for development of Dhangar community, Rs 200 crore for OBC Corporations, Rs 600 crore for research by four agricultural universities and Rs 100 crore for construction of houses for Divyang.

Insurance cover will be made available to 5.5 crore people under the Gopinath Munde Shetkari Apghat Vima Yojana.

The scheme will be expanded with an outlay of Rs 210 crore. Benefits of amnesty scheme would be available in respect of outstanding tax in the ratio of undisputed tax and disputed tax proportionately, the minister said.

The interim budget presented in February was of Rs 4,03,207 crore and due to new items of expenditure, there was an increase of Rs 1,586 crore, Mungantiwar said.

Under the Maharashtra Settlement of Arrears of Tax, Interest, Penalty or Late Fee Ordinance, benefit of amnesty would be available in respect of outstanding tax in the ratio of undisputed tax and disputed tax, proportionately, he said.

Regarding the Professional Tax Act, the minister said the provision for penalty for enrollment holder for late registration has been done away with. Instead, a levy of fixed interest of 1.25 per cent is proposed, he added.

Under the Maharashtra Value Added Tax Act, now there is no need to file audit report for dealers having turnover of more than Rs one crore and tax liability of Rs 25,000 or less in a year, he said.

The budget provides for Rs 12,597 crore for water resources department and Rs 600 crore for setting up four agriculture universities.

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