Budget

Published: Mar 10, 2023
Updated: Mar 10, 2023

Maharashtra State Budget 2023: A Comprehensive Plan for the Welfare of Citizens

Maharashtra State Budget 2023 was announced on 9th March with a focus on the betterment of citizens' lives. The budget highlights a series of schemes and policies that cater to the needs of various sections of society. From farmers to women, students to unorganised workers, the budget aims to provide social security and welfare schemes for all. Let's dive into the highlights of the Maharashtra State Budget 2023.

Amnesty Scheme for GST Dept: Relief for Dealers with Arrears

To provide relief to dealers who have been struggling with arrears, the Maharashtra State Budget 2023 has announced an amnesty scheme. Complete waiver of the arrears will be provided in cases where arrears are Rs. 2,00,000/- or less per year. Additionally, dealers having arrears up to Rs. 50 lakhs or less per statutory order will pay only 20% of the amount, and the balance 80% will be waived.

Professional Tax: Empowering Women and Persons with Disability

In a bid to empower women and persons with disability, the Maharashtra State Budget 2023 has proposed an exemption in Profession Tax. Female employees drawing monthly salary up to 25000/- will be exempted from Profession Tax. Moreover, the definition of 'Person with Disability' in the Profession Tax Act is proposed to be amended.

VAT Rate Changes: Reduction in VAT Rate on ATF

The Maharashtra State Budget 2023 has announced the reduction of VAT rate on ATF from 25% to 18% in Mumbai, Pune and Raigad districts. This will lead to a reduction in airfare, making air travel more accessible and affordable to the people of Maharashtra.

Benefits to the Farmers: Supporting Agriculture and Farmers' Welfare

The Maharashtra State Budget 2023 has announced several initiatives to support agriculture and farmers' welfare. Farmers will receive an honorarium of Rs 12,000 per year, and only INR 1/- would be required to pay for Peek Vima instead of existing 2% of the premium amount. Moreover, free accommodation, lunch and other related facilities will be provided at Krushi Markets. E-punchanama through mobiles, drones etc. can also be done, making the process hassle-free and efficient.

Health Insurance Coverage: Enhancing the Mahatma Phule Jan Arogya Scheme

The Maharashtra State Budget 2023 has enhanced the Mahatma Phule Jan Arogya scheme, a health insurance scheme of the government. The coverage has been raised from Rs 1.5 lakh to Rs 5 lakh, ensuring better healthcare access to the people of Maharashtra.

Students Scholarship: Encouraging Education and Supporting Students

The Maharashtra State Budget 2023 aims to encourage education and support students by providing scholarships. Students of Class 5 to Class 7 will receive Rs 1,000 to Rs 5,000, and students of Class 8 to Class 10 will receive Rs 1,500 to Rs 7,500. Uniforms will be provided free of charge to students of all categories up to Class 8 in local body and government schools.

Unorganised Workers: Providing Social Security and Welfare Schemes

The Maharashtra State Budget 2023 aims to provide social security benefits and welfare schemes for unorganised workers. The state will establish Maharashtra State Auto Rickshaw Taxi Driver-Owner Welfare Corporation, which will provide benefits to auto rickshaw and taxi drivers in the state

Gems and Jewellery

The state government has announced a new policy for the gems and jewellery industry. The policy is expected to provide a boost to the industry and create new employment opportunities. Additionally, the government will set up a plan in Navi Mumbai to support the growth of the industry.

Ration Kit benefits to Poor Citizens

The government has announced a new scheme to provide free ration kits to poor citizens on the occasion of Gudi Padwa and Dr Bhimrao Ambedkar's birth anniversary. This move is expected to benefit a large number of people who are struggling to make ends meet.

Financial Aid for Girl Child - INR 1,00,000/-

To encourage the education and welfare of the girl child, the government has announced financial aid of up to INR 1,00,000 for families having yellow and orange ration cards. This aid will be provided in instalments after the birth of the child, after Class 4, after Class 6, and after Class 11. The beneficiary girl will receive Rs 75,000 after she attains the age of 18 years. This scheme will go a long way in empowering the girl child and improving their prospects in life.

Benefits for Women

The government has proposed several benefits for women in Maharashtra. Women will get a 50% discount in state transport buses and a 1% discount on stamp duty. Additionally, the government will launch a new scheme called 'Shakti Sadan' to provide shelter to women in distress who are liberated from sexual exploitation or facing domestic violence.

Hospitals - APLA DHAWAKHANA

In memory of the late Balasaheb Thackeray, the government has announced the launch of 700 Apla Dawakhana dispensaries in the state. These dispensaries will provide medical assistance to people in rural and remote areas who do not have access to healthcare facilities.

Welfare of citizens main focus of Budget 2023

The Maharashtra state budget for 2023 has announced several measures aimed at improving the lives of citizens in the state. From tax waivers to healthcare coverage, scholarships to welfare schemes, the budget is expected to provide a much-needed boost to the economy and social infrastructure of Maharashtra. The government's focus on empowering women and providing support to unorganised workers is commendable and will go a long way in building an inclusive society.

September 30, 2024 - Second Issue

Industry Review

VOL XVI - 03
September 16-30, 2024

Formerly Fortune India Managing Editor Deven Malkan Assistant Editor A.K. Batha President Bhupendra Shah Circulation Executive Warren Sequeira Art Director Prakash S. Acharekar Graphic Designer Madhukar Thakur Investment Analysis CI Research Bureau Anvicon Research DD Research Bureau Manager (Special Projects) Bhagwan Bhosale Editorial Associates New Delhi Ranjana Arora Bureau Chief Kolkata Anirbahn Chawdhory Gujarat Pranav Brahmbhatt Bureau Cheif Mobile: 098251-49108 Bangalore Jaya Padmanabhan Bureau Chief Chennai S Gururajan Bureau Chief (Tamil Nadu) Ludhiana Ajitkumar Vijh Bhubaneshwar Braja Bandhu Behera

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