Maha budget stresses urban dev, real estate, EV charging

Maharashtra’s Deputy Chief Minister and finance minister, Ajit Pawar, today, presented the annual budget with a revenue deficit of Rs 10,226 crore in the state Legislative Assembly. With the budget, Pawar announced initiatives like electric vehicle charging stations on major highways and free bus rides for girl students. Announced on the occasion of Women’s Day, the budget also proposed a concession in stamp duty by 1 % over the prevailing rate exclusively for women.

The Maha Budget gave a big boost to the overall infrastructure especially for the western suburb region which is aimed to enhance seamless connectivity across the city. Other announcements directed at pushing real estate, and creating major opportunities for construction and infrastructure industries were also tabled at the session.

With an estimated tax revenue of Rs 2,18,263 crore, the budget includes revised estimates of Rs 1,84,519 crore on account of the goods and services tax (GST), value added tax (VAT), central sales tax (CST), profession Tax (PT) and other taxes.

Here are some of the key highlights of the Maha Budget 2021-22:

1. Concession in stamp duty by 1 % over the prevailing rate only for women, provided the transfer of house property or registration of sale deed is in the name of women.
2. Electric vehicle charging stations to be set-up on major highways (Mumbai -Pune, Mumbai-Goa, Mumbai-Nashik).
3. Allocation of Rs 8,420 crore for the urban development department.
4. Allocation of Rs 2,533cr for water supply and sanitation.
5. New ring road to be made in Pune.
6. Providing 1,500 hybrid buses for girl students to go to schools.
7. Free travel on MSRTC buses for girl students in rural Maharashtra.
8. Allocation of Rs 400 crore for Balasaheb Thackeray memorial at Shivaji Park.