Mumbai, Mar 9: The Maharashtra Budget 2018-19 will be presented today. Finance Minister Sudhir Mungantiwar will present the Maharashtra Budget at 2 pm. This will be the fourth successive budget of the finance minister. An allocation is likely to be made for an increased wage bill for 1.7 million state government employees and 6.5 lakh pensioners as per the recommendations of the 7th Pay Commission in the budget. Catch live updates on Maharashtra Budget 2018-19 presentation here. (Watch Live streaming of Maharashtra Budget presentation in Marathi on Zee 24 Taas)
The budget session of Maharashtra Assembly began on February 26 and will end on March 28. There will be a debate on the Maharashtra Budget for six days. Sudhir Mungantiwar will have a tough task following the stress on state finances due to the farm loan waiver announced this fiscal. One of the major tasks the finance minister has before him is to increase state income as fiscal space to raise tax revenues has virtually ended after the introduction of the goods and services tax (GST).
Maharashtra’s economy is expected to grow by 7.3 percent in 2017-18 over the previous year, the Economic Survey tabled in the state Legislature Thursday said. The growth of 7.3 percent (in 2017-18) is against the 10 percent growth projected during 2016-17, the survey said.
During 2016-17, the agriculture production was higher on account of good rains. However, during 2017-18 the agriculture and allied sectors are expected to register (-) 8.3 percent due to fewer rains (84.3 percent of normal rains) as compared to last year.