Maharashtra Budget 2023: Budget session of maharashtra to be tabled on March 9 | Mumbai News - Times of India (2024)

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What are the key points of Maharashtra Budget 2023? ›

GSDP, which was at Rs 38.8 lakh crore in 2023-24, was expected to increase by 10% to Rs 42.7 lakh crore in 2024-25, said Pawar.

Maharashtra Finance Minister Ajit Pawar presented a Rs 600,522 crore interim Budget for 2024-25 with a revenue deficit of Rs 9,734 crore. The Budget proposed no new taxes. A supplementary Budget (full Budget) will be presented after the Lok Sabha elections.

Maharashtra's Deputy Chief Minister and finance minister Ajit Pawar on Tuesday presented an interim budget for the fiscal 2024-25 which has estimated a revenue deficit of Rs 9,733.76 crore and the fiscal deficit for the year 2024-25 is estimated at Rs 99,288 crore.

Uttar Pradesh was the state to which the Centre was most generous. The state, governed by BJP Chief Minister Yogi Adityanath, was allocated Rs 1,83,237 crore for the last fiscal year, 2023-24. The amount was almost Rs 80,000 crore more than the next state on the list, Bihar which got allocated around 1 lakh crore.

➢ In the budget of the year 2024-25, revenue receipts is 4 lakh 98 thousand 758 crore rupees and revenue expenditure is 5 lakh 8 thousand 492 crore rupees, revenue deficit- 9 thousand 734 crore rupees, fiscal deficit 99 thousand 288 crore rupees.

It reflects the state's economic prosperity and the standard of living enjoyed by its population. As one of India's wealthiest states, Maharashtra's GDP per capita is often higher than the national average, owing to its diverse economy, industrialization, and urban centers like Mumbai and Pune.

Maharashtra has a Gross State Domestic Product (GSDP) of approximately USD 435 billion (2022-23), which makes it the largest economy in India. Maharashtra's contribution to India's growth is significant. The state accounts for 12.92% of India's GDP and has a per capita income that is higher than the national average.

Maharashtra: India's wealthiest state GDP for the year 2023-24 is Rs 38.79 Lakh crore, according to Forbes.

The economy of Maharashtra is the largest in India, with a gross state domestic product (GSDP) of ₹35.27 trillion (US$440 billion) and GSDP per capita of ₹242,247 (US$3,000).

What is the state department budget request for fiscal year 2024? ›

The President's Fiscal Year (FY) 2024 Budget Request for the State Department and the United States Agency for International Development (USAID) is $63.1 billion for foreign assistance and diplomatic engagement, which includes $32 billion in foreign assistance for USAID fully- and partially-managed accounts, $3 billion ...

Federal outlays in 2024 total $6.5 trillion, which amounts to 23.1 percent of GDP. They stay close to that level through 2028 and then increase, reaching 24.1 percent of GDP by 2034. Growth in spending on programs that benefit elderly people and rising net interest costs drive those increases.

The centre generally spends on assistance to the weaker sections of the society or any developmental project, and this spending can cause a fiscal deficit.

The fiscal deficit for the corresponding period of the previous year stood at ₹11.91 trillion, or 67.8% of the annual estimate of ₹17.55 lakh crore for FY23. The budgeted annual estimates for fiscal deficit, which was revised in the vote on account budget on 1 February, was at ₹17.87 trillion for FY24.

Maharashtra's Gross State Domestic Product, which was Rs 38.79 lakh crore in 2023-24, is expected to grow by 10 per cent at Rs 42.67 lakh crore in 2024-25.”

The Consolidated Appropriations Act, 2023 totals $1.7 trillion in discretionary resources across the fiscal year 2023 appropriations bills. In total, the regular 12 appropriations bills include $800 billion in non-defense funding, a $68 billion—9.3 percent—over last year.

Total expenditure (excluding debt repayment) in 2023-24 is targeted at Rs 6,59,061 crore. This is an increase of 17% over the revised estimate of 2022-23. This expenditure is proposed to be met through receipts (excluding borrowings) of Rs 5,74,178 crore and net borrowings of Rs 77,933 crore.

The state government had presented a budget of ₹7.61 lakh crore, including the supplementary budget, for the 2023-24 financial year. With the deficit of more than ₹99,288 crore, the state government has planned to spend ₹7.26 lakh crore.