Even as it managed to increase the budget outlay for development programmes by almost 23 per cent to Rs 95,000 crore in 2018-19, the Maharashtra government expects planning agencies to bear the financial burden of its various infrastructure projects.
- According to the survey, the industry and services sectors are expected to grow at 6.5 percent and 9.7 percent respectively. 45 crore is proposed for 2017-18 towards electricity subsidy to agricultural pumps as against Rs 4,510.39 crore for 2016-17, the survey stated. The budget of year 2017-18 estimated a surplus of 4751.31crore.
In the state's plan expenditure, the highest allocation of Rs 35,373 crore is to social and community services, followed by the agriculture and allied services sector, which gets Rs 18,112 crore. However, during 2017-18 the agriculture and allied sector are expected to register (-) 8.3 per cent due to less rains (84.3 per cent of normal rains) as compared to a year ago.
The state is banking GST collections to shore up its revenues, with Maharashtra reporting the highest collections in the country.
The revenue deficit is the the excess of revenue expenditure over revenue receipts.
Besides, Cidco is developing 11km metro network worth Rs 3,043 crore in Navi Mumbai, while the Pune Metropolitan Region Development Authority has undertaken 23.3 km metro project in the city costing Rs 8,313 crore.
- As per the budget estimates, interest payment on debt stock of Rs 4.13 lakh crore is Rs 31,027 crore. In 2017-18, the state also received Rs 2,100 crore more than expected from stamp and registration fees, and Rs 1,012 crore more than estimated as grant-in-aid from the Centre.
On the expenditure front, in 2017-18, the state spent Rs 1,907 crore less than budgeted for education and Rs 1,479 crore less than budgeted for relief from natural calamities.
- During 2017, 354 projects with an expected investment of Rs 48,581 crore and proposed employment of 0.27 lakh were registered and 24 projects with an expected investment of Rs 1,582 crore and proposed employment of 0.2 lakh were implemented.
The debt to GSDP ratio is 16.5%, which is lower than the recommended 22.5% limit set by the 14th Finance Commission. Infrastructure spending is highest in road works, with an allocation of Rs 10,828 crore. "There will be revenue deficit of Rs 15,375 crore which the government will try to reduce by various measures", the finance minister said.
During Kharif season of 2017, the sowing was completed on 150.45 lakh hectares with a minor increase over the previous year.