- As per the budget estimates, interest payment on debt stock of Rs 4.13 lakh crore is Rs 31,027 crore. The government, though, says the debt is within fiscal limits and so has not cut spending.
The total outlay for the scheme, announced on June 24 previous year was Rs 34,020 crore.
Finance Minister Sudhir Mungantiwar today presented the budget for 2018-19, which has an estimated revenue deficit of Rs 15,374 crore and focuses on improving infrastructure.
Maharashtra's debt burden is ₹4,06,811 crore, and is expected to be ₹4,61,807 crore by the next fiscal year.
Despite the financial strain, the budget allocated Rs 450 crore to statues: Rs 300 crore for the Shivaji Memorial and Rs 150 crore for the Ambedkar Memorial. "There will be revenue deficit of Rs 15,375 crore which the government will try to reduce by various measures", the finance minister said.
The debt to GSDP ratio is 16.5%, which is lower than the recommended 22.5% limit set by the 14th Finance Commission. Comparing it with the gross state domestic product, the state will have 16.5 per cent of the debt stock against 16.3 per cent previous year. This is the expenditure undertaken to create and maintain assets. The Survey mentioned that the per capita income in Maharashtra for 2016-17 stood at Rs 1,65,491 whereas that of Karnataka at Rs 1,57,474.
- The report also states that between August 1991 and December 2017, total 19,826 industrial proposals with an investment of Rs 11,89,815 crore were approved. But what it got from customs duty and state and central excise duty was less than expected.
The budget provides Rs8,233 crore to the water resources department and Rs3,115 crore as the state's contribution to complete 26 irrigation projects under the Pradhan Mantri Krushi Sinchai Yojana. The budget has announced allocations for the farm and irrigation sector, apart from the loan waiver.
Under MUTP 3A, the Centre has proposed projects worth Rs 54,776 crore. The capital expenditure the since the inception of Telangana is around "1.19 lakh crore, which is more than ten years" capital expenditure from 2004 to 2014 in Telangana during ten years of Congress rule in united AP.
- The survey also states that with Rs 3,94,886 crore (33.2 percent of the total investment), the IT sector continues to generate maximum investment in the state, followed by the fuel and the metallurgical industry with an investment of Rs 1,43,138 crore and Rs 1,02,081 crore respectively. Recovery provisions under GST will be applicable to profession tax and the responsibility to collect tax at source will vest with organizations. The budget has proposed stronger measures for profession tax collection.