Maharashtra's total receipts are revised to grow by 2.5% this year, led by 28% growth in 'Grants from the Center'. Of this, only about two-third have been received up to Jan 21. Total receipts are budgeted to grow 27.2% in FY22.
Total taxes are expected to fall by only 3% Y-o-Y in FY21RE. Tax receipts are budgeted to increase by 30.8 percent in FY 22.
Total spending is pegged to grow by 12.1% in FY21RE. Total spending is 61% of FY21RE till January 2021. It is budgeted to increase by 15.4% in FY22.
Only 32% of capital spending has been achieved up to January 2021. Capital Spending is budgeted to increase by 34% in FY22.
Maharashtra has pegged its fiscal deficit at 3.3% of GSDP for FY21RE and budgeted it at only 2.2% of GSDP in FY22.
Gross State Domestic Product decreased by 5.2 % according to the revised estimated of FY21. Maharashtra budgeted state domestic product to increase by 1% in FY22.
The state has borrowed less than two-third (Rs 69,000 cr) of its gross market borrowings up to 9 March 2021 and has plans to borrow another Rs 9,500 cr in the last three weeks of FY21. Shivani Sharma, Mohsin Shaikh