Reaction to the State Budget ’23 by Dr. Dipen Agrawal President Chamber of Associations of Maharashtra Industry and Trade.

The Budget offers a Roadmap for States Holistic development as we enter ‘Amrut Kaal’.

Nagpur :-The first budget of Eknath Shinde as Chief Minister and Devendra Fadnavis as Finance Minister first budget of the State in the Amrut Kaal is based on five major goals, ‘Panchamrut’

1 Sustainable Farming-Prosperous Farmers.

2 Inclusive development of all sections of society including women, tribals, backward classes, OBCs.

3 Development of infrastructure with substantial capital investment.

4 Employment generation: competent, skilled, employable youth.

5 Environment friendly development.

Deputy CM Devendra Fadnavis Proposes Rs 547,450 Crore Budget With Huge Fiscal, Revenue Deficits, though the state government has succeeded in keeping the fiscal deficit below 3 per cent of the SGDP, and the fiscal deficit for 2023-2024 is estimated at a whopping Rs 95,500.8 crore – up from Rs 89,598 crore over 2022-2023.

The Budget had the vision, structure and discipline to cover each and all segments of society and sectors like Agriculture, Infrastructure, Women, tribals and backward classes Welfare, health care, Cooperation, Transport, Roads\Highways Youth, Wildlife, Education, Trade and Industry.

Vidarbha and Nagpur has got its share of each category of ‘Panchamrut’ from the budget such as Wainganga-Nalganga-Painganga river linking, allocation of Rs.1500Cr for Gosikhurd, Maharashtra Shaktipeeth Highway (Nagpur-Goa),Allocation of Rs. 100 Cr for MIHAN, 1000 Acre Logistics Hub to name a few.

The budget reflects the vision of DCM of Maharashtra being 1 trillion $ economy and its road map to achieve it. The Amnesty Scheme , 2023 for Goods and Service Tax announced as ‘Maharashtra Settlement of Arrears of Tax, Interest, Penalty or Late Fee Act 2023 as was demanded by Chamber of Associations of Maharashtra Industry and Trade. (CAMIT) and it is a welcome step.

The Budget if is to be rated on a scale of 10 then we can safely give 8/10. It can well be termed as Maha Budget ‘23 .

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