Stamp Obligation Concession For Girls, Elevated Liquor Tax In Maharashtra Finances

Stamp Duty Concession For Women, Increased Liquor Tax In Maharashtra Budget

Stamp Duty Concession For Women, Increased Liquor Tax In Maharashtra Budget

Deputy Chief Minister and finance minister Ajit Pawar introduced the . (FILE)

Mumbai:

 The Maharashtra authorities’s finances for 2021-22, introduced on Worldwide Girls’s Day, supplied one per cent concession in stamp responsibility if property is transferred completely in ladies’s identify.

Deputy Chief Minister and finance minister Ajit Pawar on Monday introduced a finances with income deficit of Rs 10,226 crore within the state Legislative Meeting.

Whereas the income assortment within the coming fiscal was estimated at Rs 3,68,987 crore, income expenditure was estimated at Rs 3,79,213 crore.

The scale of the annual plan is proposed at Rs 1,30,000 crore, the minister stated.

The coronavirus pandemic had an unprecedented impression on the state’s economic system, stated Mr Pawar, informing that the tax income as per the revised estimates for 2020-21 is anticipated to be Rs 2,18,263 crore.

Contemplating the present slowdown within the nationwide and state economic system, it is not going to be straightforward to realize the revised income estimates, however the authorities will make full efforts to realize the revised goal, Mr Pawar stated.

“On Worldwide Girls’s Day, I suggest concession in stamp responsibility of 1 per cent over the prevailing fee completely to ladies, offered the switch of home property or registration of sale deed is within the identify of girl or ladies solely,” he stated.

“On account of this concession, there shall be income shortfall of round Rs 1,000 crore,” Mr Pawar added.

He proposed to extend the State Excise Obligation on liquor. Nation liquor shall be categorized into two classes — branded and non-branded — and State Excise Obligation shall be levied at 220 p.c of producing price or Rs 187 per litre, whichever is greater, solely on branded nation liquor.

That is anticipated to fetch further Rs 800 crore. The VAT on liquor as prescribed in Schedule-B of Worth Added Tax Act was elevated from the present 60 p.c to 65 p.c, whereas the VAT prescribed in Part 41 (5) of the Act was elevated from 35 p.c to 40 p.c.

That is estimated to convey further income of Rs 1,000 crore, Pawar stated.

A provision of Rs 58,748 crore was made for infrastructure improvement.

Fiscal deficit is estimated to be Rs 66,641 crore, the finance minister stated.

Rs 7,000 crore have been allotted for the well being sector, stated Mr Pawar, who introduced his second finances as minister within the Shiv Sena-NCP-Congress authorities.

“The state will full the Mumbai coastal highway earlier than 2024 whereas connecting the Navha Sheva-Shivadi under-construction highway with the Worli-Bandra Sea Hyperlink,” he stated.

The Worli-Bandra Sea Hyperlink on the Mumbai’s western coast in additionally being prolonged additional to Virar within the north which can scale back the load on the arterial Western Expressway, Mr Pawar stated.

Travelling by state transport buses to highschool shall be free for women, he introduced.

The MSRTC, the state’s transport division, will get 15,000 hybrid buses in coming fiscal, Mr Pawar stated.

For farmers, curiosity on crop loans of as much as Rs 3 lakh shall be waived if the mortgage is repaid in time.

The state will even assemble 235-km Pune-Ahmednagar-Nashik railway observe, the minister annouonced.

New authorities medical schools shall be arrange in Sindhudurg, Osmanabad, Raigad and Parbhani districts.

A brand new ring-road costing Rs 24,000 crore shall be constructed within the limits of Pune Municipal Company, the nation’s largest civic physique when it comes to space.

(Apart from the headline, this story has not been edited by NDTV workers and is revealed from a syndicated feed.)

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