Maharashtra Budget 2024-25: Key highlights

MUMBAI: The Eknath Shinde government, following a disappointing performance in the Lok Sabha polls where it secured only 17 out of 48 seats in the state, presented its final budget before the upcoming assembly elections scheduled for October. The budget, which was introduced in the legislature on Friday, was laden with populist measures targeting various segments of society, including women, youth, farmers, marginalized communities, and the economically disadvantaged.
Chief Minister Eknath Shinde, commenting on the budget that extends benefits to various segments of society, including women, youth, farmers, marginalized groups, and the poor, stated, "this budget is for all sections of society." He further affirmed, "we will still reach our goal of becoming a $ 1 trillion economy."
In response to concerns regarding the substantial pre-election expenditure, Ajit Pawar, the finance minister of Maharashtra, assured that it was within fiscal boundaries.He also expressed confidence in the government's ability to fund the announced benefits. "The state's GST is expected to grow by 15.8% over last year. GST and VAT is set to rise by Rs 25,000 crore. We are also expecting a rise in funds received from the Centre," he said.
Here are the key highlights:
* The state government has announced several initiatives in the budget, including free medical check-ups and treatment for warkaris, as well as the formation of a warkari development corporation to support the community's growth. Additionally, Rs 36 crore has been allocated for the Pandharpur dindi, with each dindi (group of pilgrims) receiving Rs 20,000.
* Ajit Pawar, while reading the budget, revealed the state's goal of becoming a US$1 trillion economy. The government also introduced the CM ladki bahin yojana, a special scheme for women that will provide Rs 1,500 per month and Rs 46 crore annually, starting from July 2024. Under this scheme, 10,000 women will be given pink e-rickshaws across the state, with Rs 80 crore allocated for the e-rickshaw scheme in 17 cities.
* The budget also includes provisions for new ambulances and the Har ghar null initiative, which aims to provide tap water to 21 lakh households currently in the process of being connected. The government will provide 3 free gas cylinders annually to 52.4 lakh households under the newly announced CM Anna Suraksha Yojana.
*In his state budget announcement, Finance Minister Ajit Pawar introduced the Mukhyamanyti Majhi Ladki Bahin Yojana, a scheme that will provide a monthly stipend of Rs 1500 to eligible women aged between 21 and 60. The initiative is expected to cost the state 46,000 crores annually.
*The budget includes a provision for three free gas cylinders per year for eligible families, aiming to ease the financial burden on households.
*The Unity Mall project will prioritize women's self-help groups, with a goal to enable 25 lakh women to become Lakhpati (millionaires) within the current year. Additionally, the budget allocates funds for the establishment of 100 special fast-track courts to address cases of crimes against women.
*The budget also introduces a fee waiver for girls from OBC and EWS families pursuing higher education. This initiative is expected to benefit 2 lakh girls and has an annual budget of 2000 crores.
*The Maharashtra government has provided compensation to 24.47 lakh farmers, covering an area of up to 3 hectares per farmer. Additionally, 40 talukas in the state have been officially declared as drought-affected regions.
In a bid to support farmers, the state has announced the "Gaon tethe godown" scheme, allocating a budget of Rs. 341 crore for its implementation.
*The government has announced a subsidy of Rs 5 per litre for cow milk to support dairy farmers in the state starting from July 1 to 2.93 lakh cow milk producers.
*The state government has also expressed its commitment to promoting fisheries and bamboo production. To encourage bamboo plantation, farmers will receive a financial incentive of Rs. 175 per plant. The state plans to initiate a bamboo plantation drive, starting from the Nandurbar district, with a target of bringing 6,000 hectares of land under bamboo cultivation under the Atal scheme.
*In a move to promote sustainable agriculture, the state will provide free electricity to farmers by installing 8.5 lakh solar pumps. This eco-friendly approach will reduce the burden of electricity costs on farmers while encouraging the use of renewable energy sources.
*The state government has allocated a budget of Rs 650 crore for the Jal Yukta Shivar Yojana, a project aimed at water conservation and management.
*The state government has announced plans to establish a technical textile park to boost the textile industry.
*Additionally, a scuba diving center will be set up in Sindhudurg to promote tourism in the coastal region.
*In a move to support various communities, the state has declared the formation of several new development corporations. These corporations will work towards the welfare and advancement of their respective communities. The physically challenged individuals in the state will benefit from a new housing scheme. Moreover, they will also be provided with e-vehicles to enhance their mobility and independence.
*A housing scheme, named after the late Shiv Sena leader Anand Dighe, has been announced by the state government to provide affordable housing to the people.
*To improve healthcare accessibility, the state has decided to increase the health cover under the Mahatma Jyotiba Phule Jan Arogya Yojana from Rs 1.5 lakhs to Rs 5 lakhs. This initiative aims to provide better medical facilities to a larger section of the population.
*The transgender community will now be eligible to avail of government schemes, ensuring their inclusion and support.
*In an effort to promote sustainable transportation, the PM e-Busses scheme will be launched in 19 municipal corporations across the state.
*Farmers using pumps up to 7.5 HP will be granted a complete electricity waiver, providing relief to approximately 44.61 lakh farmers in the state.
*The Maharashtra government has allocated Rs 200 crore as a revolving fund to support onion farmers during times of price crashes or crop damage. Onion farmers have expressed their discontent over the central government's decision to ban onion exports, which resulted in a significant drop in domestic wholesale onion prices, causing substantial financial losses for the farmers.
*A viewing gallery will be constructed at Malshej ghat, and the government will cover the expenses for the annual celebration at Raigad fort.
*Pending electricity dues of 46.6 lakh agricultural pump users will be waived.
*Maharashtra government has announced a reduction in taxes on diesel and petrol in the municipal areas of Brihanmumbai, Thane, and Navi Mumbai. The tax on diesel has been lowered from 24% to 21%, while the tax on petrol has been reduced from "26 % + 5.12 rupees per litre to 25 % + 5.12 rupees per litre. As a result of this proposal, the price of petrol per litre in the municipal areas of Thane, Brihanmumbai, and Navi Mumbai is set to decrease by approximately 65 paise per litre, and the price of diesel will be reduced by approximately Rs. 2.07 per litre.
*The Maharashtra government has initiated a pilot solar power project in Mhaisal, District Sangli, with an estimated cost of Rs.1,594 crores. This project is expected to benefit approximately 75,000 farmer families in the Sangli and Solapur districts. The government also plans to solarize all irrigation schemes, including the Janai-Shirsai and Purandar lift irrigation schemes, to achieve the goal of clean and green energy, with an expected cost of Rs.4,200 crores.
*The Vainganga-Nalganga interlinking project aims to provide irrigation benefits to 3,71,277 hectares in Nagpur, Wardha, Amravati, Yavatmal, Akola, and Buldhana districts. Additionally, the World Bank-aided Maharashtra Responsive Development Program, costing Rs. 3,200 crores, will be implemented to prevent loss of lives and finances due to floods in Kolhapur and Sangli districts and to divert excess water to drought-affected areas.
*Metro lines spanning 449 kilometers have been sanctioned for Mumbai, Pune, and Nagpur. Currently, 127 kilometers are operational, with an additional 37 kilometers expected to become functional within the current financial year.
*The Shivdi-Worli link road project is slated for completion by the end of December, 2025.
*The Thane coastal road, stretching from Balkum to Gaymukh, covers a distance of 13.45 kilometers. With an estimated cost of Rs. 3,364 crores, the project is anticipated to be finished by May, 2028.
*The government has announced that soldiers serving in the Assam Rifles, Central Industrial Security Force, Indo-Tibetan Border Police, National Security Guard, and Sashastra Seema Bal will be granted an exemption from paying Profession Tax. This move is expected to provide financial relief to around twelve thousand armed personnel.
*If the registered document is discovered to have paid insufficient stamp duty, the penalty imposed on the difference in stamp duty amount from the date of execution of the document has been decreased from 2% to 1% per month. The process of applying for a stamp duty refund can now be initiated online. The time limit for submitting the application has been extended from six months to one year from the date of stamp purchase.
*To empower the youth, the state has introduced the CM Yuva Karya Prashikshan Yojana, a skill development program that offers a monthly stipend of Rs 10,000. The government has set aside Rs 10,000 crore annually for this scheme, which is expected to benefit ten lakh youth. In an effort to promote education among minority communities, the state will launch foreign scholarship schemes for students belonging to these groups.
*50,000 youths will receive training each year to spread awareness about various Government schemes among the public.
*"Centre of Excellence" will be established in technical education institutions located in Mumbai, Pune, Nagpur, Amravati, Yavatmal, Kolhapur, Chhatrapati Sambhajinagar, Karad in District Satara, and Avasari Khurd in District Pune.
*The Gopinath Munde Uus Tod Kamgar Vikas Mahamandal has announced the establishment of 82 government hostels for the children of sugarcane workers.
*In the healthcare sector, the government has approved the establishment of new Government Medical Colleges with an intake capacity of 100 students and 430 bedded hospitals. Additionally, a new Government Unani College will be set up at Mauje Savar, Taluka Mhasla, District Raigad, and a new Government Ayurveda College will be established in Buldhana district. The government has also substantially increased the stipend of junior and senior resident doctors in Government Medical Colleges and the remuneration of voluntary teachers.
*The thrust sector is expected to attract an investment of approximately Rs. 1 lakh crores, which will create 50,000 jobs. The green hydrogen sector is also expected to generate 55,900 jobs with an investment of Rs. 2,11,400 crores.
*The "India Gems and Jewellery Park" will be established on 25 acres of land at Mahape, Navi Mumbai. This park will include 2000 micro, small, and medium enterprises with an investment of Rs. 50,000 crores, which is expected to generate one lakh jobs.
*The government has set an ambitious target of constructing 35,40,491 houses over the next five years through various housing schemes such as Pradhan Mantri Awas Yojana, Ramai Awas Yojana, Shabri, Pardhi and Adim Awas Yojana, Modi Awas Yojana, Yashwantrao Chavan Mukt Vasahat Yojana, and Punyashlok Ahilya Devi Holkar Gharkul Yojana. To achieve this goal, a substantial allocation of Rs 7,425 crores has been made for these housing initiatives in the 2024-25 budget.
*Deputy CM Ajit Pawar unveiled the 'Dharmaveer Anand Dighe Gharkul Yojana,' an initiative aimed at providing housing to differently abled individuals. The scheme's first phase will involve the construction of 34,400 houses. Chief Minister Shinde also declared that the government would allocate Rs 1,130 crore for the implementation of schemes benefiting persons with disabilities through the newly established ministry.
*In the Brihan Mumbai Municipal Corporation area, 12,954 houses have already been allotted to mill workers, and the government plans to provide the remaining houses to ensure their well-being. This step demonstrates the government's commitment to improving the living conditions of the working class.
*The government has allocated Rs.1886.84 crores for the second phase of the Swachh Bharat Abhiyan.
*The government has announced plans to construct a world-class international convention center in the vicinity of Rajaram lake, located in Kolhapur city. The necessary financial resources will be allocated for this project.
*Funds will be provided for the construction of a multi-purpose auditorium at B. J. Government Medical College, Pune and for enhancing the infrastructure and educational facilities at Kisan Shikshan Prasarak Mandal, Borgaon-Kale Taluka, District Latur, as part of their Golden Jubilee celebrations.
*In addition, a memorial dedicated to Chhatrapati Sambhaji Maharaj will be erected at Shirala, District Sangli, while another memorial honoring Sant Shri Ruplal Maharaj will be built at his samadhisthal in Anjangaon Surji, District Amravati.
*An Art Gallery will be established at Hatgad Taluka Surgana, District Nashik, with the purpose of exhibiting, developing, and promoting tribal arts. The government has sanctioned a plan worth Rs 305 crores for the Sahitya Ratna Lokshahir Annabhau Sathe Research and Training Institute in Mumbai.