No new taxes in Maharashtra budget, but debt could rise
Maharashtra Finance Minister Sunil Tatkare on Thursday unveiled a budget free of additional taxes and levies on the common man.business Updated: Mar 26, 2010 08:39 IST
Maharashtra Finance Minister Sunil Tatkare on Thursday unveiled a budget free of additional taxes and levies on the common man.
However, the Rs.7,654 crore revenue-deficit budget for 2010-11 also indicates that the state's debts - already standing at over Rs.1.85 lakh crore - could further mount to nearly Rs.2.10 lakh crore.
Giving a strong thrust to irrigation and the power sector, both main drivers of the state economy, Tatkare also proposed huge investments in the cultural and tourism sectors, besides security in the state which is facing the twin problems of terrorism and Maoism.
Chief Minister Ashok Chavan lauded Tatkare and Minister of State for Finance Vijay Wadettiwar for the budget. "Despite inflation and implementation of the Sixth Pay Commission, the budget is very inclusive," Chavan remarked.
The coastal Konkan region too would get a major boost with projects like Sewree-Nhava Sheva Trans-Harbour link and the development of a coastal highway passing through Thane, Raigad, Ratnagiri and Sindhudurg districts.