Mumbai: Maharashtra Finance Minister Sudhir Mungantiwar presented the interim budget for the fiscal 2019-20 with an estimated deficit of Rs 19,784 crore, here on Wednesday.
With an eye on the upcoming elections, the budget has also made a special provision for the farm debts waiver, though the state’s outstanding debt has shot up to Rs 414,411 crore or 14.82 per cent of the state’s Gross Domestic Product.
According to the budgetary provisions, the revenue receipts are expected at Rs 314,489 crore against an estimated revenue expenditure of Rs 334,273 crore, he said.
The state’s annual plan outlay has been fixed at Rs 99,000 crore for implementing various schemes and Mungantiwar assured that the government would attempt to rein in deficits by scrapping unnecessary expenses and effectively augmenting revenues.
However, he attributed the deficit to the implementation of the Seventh Pay Commission recommendations which were approved last year and which burdened the state’s finances. (IANS)
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