Maharashtra’s first budget in Amrit Kaal will be based on ‘Panchamrut’ or five major goals

Tags: Economy/Finance State News

With an eye on social engineering and specific voter groups like farmers, women and those belonging to backward communities, Maharashtra’s Deputy Chief Minister and Finance Minister Devendra Fadnavis on 9 March presented a state Budget worth Rs 6,02,008.33 crore for 2023-24.

An overview of the news

  • The budget size is higher by Rs 20,740 crore over the revised estimates for 2022-23.

  • Deputy Chief Minister Devendra Fadnavis said the state's first budget in Amrit Kaal would be based on 'Panchamrit' or five major goals.

  • Fadnavis listed five goals - sustainable farming-rich farmers, inclusive growth, infrastructure development, employment generation and environment-friendly development.

Highlights of the Budget

  • Additional cash benefit for farmers of six thousand rupees under the ‘Namo Shetkari Mahasanman Nidhi’ that will supplement the Pradhan Mantri Krishi Samman Nidhi Yojana. 

  • The scheme will benefit 1.15 crore farmers while the State will bear a burden of 6900 crores annually. 

  • Cash benefit of 1800 rupees per year for farmers in 14 suicide-hit districts instead of grains distributed through PDS. 

  • Provide crop insurance to farmers at a nominal rate of one rupee. 

  • Insurance cover of five lakh rupees for fishermen with an outlay of 508 crores.  

  • An outlay of 200 crores for ‘Maharashtra Shri Anna Abhiyan’ for technology diffusion, crop demonstrations, value chain development, promotion and publicity of millets and setting up of ‘‘Shri Anna Excellence Centre’ at Solapur.

  •  An outlay of Rs 2,843 crore has been announced for the Women and Child Development Departmentunder inclusive development.

  • Under the new scheme Lek Ladki, families with yellow and orange ration cards will get a subsidy of Rs 5,000 after the birth of a girl child, Rs 4,000 in class I, Rs 6,000 in class VI and Rs 8,000 in class XI.

  • A cash amount of Rs 75000 will be given to the beneficiary girl child on completion of 18 years of age.

  • Women passengers will be given 50 percent concession for traveling by state transport buses.

  • 1500 increase in the honorarium of 81 thousand ASHA volunteers and 3500 group promoters working in the state.

  • Announced an outlay of Rs 16,494 crore for social justice and Rs 3,996 crore for OBC welfare department.

  • Announcement of a new housing scheme called 'Modi Awas Gharkul Yojana', under which one million houses will be constructed for OBCs in the next three years.

  • On the infrastructure front, an expenditure of Rs 14,225 crore was made for roads and bridges.

  • “Mission Targeting” will be implemented to enhance the performance of athletes.

  • "Tent cities" will be set up at ten tourist spots across the state.

  • A total outlay of Rs 13,437 crore has been announced on environment and sustainable development.

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