The revenue receipts of the state for 2022-23 are expected to be Rs 403,427 crore. (PTI file)
According to the Economic Survey, the fiscal deficit of the Maharashtra government is expected to be 2.5% for 2022-23. Also, the agriculture and allied activities sector is expected to see a growth of 10.2%, industry sector at 6.1% and services sector at 6.4%.
Maharashtra Deputy Chief Minister and Finance Minister Devendra Fadnavis on Wednesday presented the Economic Survey 2022-23, which indicated that the state’s economy is expected to grow at 6.8% against the national growth of 7%. CM Eknath Shinde-Fadnavis government will present its first budget on Thursday.
According to the Economic Survey, the fiscal deficit of the Maharashtra government is expected to be 2.5% for 2022-23. Also, the agriculture and allied activities sector is expected to see a growth of 10.2%, industry sector at 6.1% and services sector at 6.4%.
The state’s revenue receipts for 2022-23 are expected to be Rs 403,427 crore as against Rs 362,133 crore during 2021-22. In the breakup, tax and non-tax revenue (including central grants) for 2022-23 are Rs 308,113 crore and Rs 95,314 crore, respectively. The revenue expenditure of the state is expected to be ₹427,780 crore as against ₹392,857 crore during 2021-22.
At the national level, the Economic Survey for 2022-23 released on January 31 projected India’s economy to grow at 7% for the current fiscal year ending March 31, after a growth of 8.7% in 2021-22 Is. The National Economic Survey has projected a baseline GDP growth of 6.5% in real terms for 2023-24.
The Maharashtra budget is coming at a crucial juncture as farmers in the state are protesting against the government for falling onion prices and damage to crops due to unseasonal rains.
Onion farmers have been demanding subsidy due to high yield and steep fall in rates due to restrictions on exports abroad. Farmers are hopeful that they will get relief from the budget.
Speaking on the floor of the Assembly, Fadnavis said, “The recent unseasonal rains damaged standing crops in 13,729 hectares in eight districts of Maharashtra. The administration has issued an order to release immediate relief and financial assistance to the affected areas.
read all latest india news Here
