First full budget of Maha Vikas Aghadi government was presented today by Finance Minister Ajit Pawar. Though after introduction of GST there isn’t much scope left for the State Finance Minister on taxation front , however he has attempted to reach all section of society by making some announcement for all i.e. farmers, youth , business community, women and common man.
I welcome finance ministers candid acknowledgement of prevailing slowdown in country’s economy and his honest attempt to save citizens of state from the impact of slowdown. His announcements to replace 1600 buses, 500 ambulances, development of road infrastructure will give necessary impetus to markets to overcome the prevailing slackness in markets. 1.80% reduction of electricity duty will give little respite to industries. 1% concession in stamp duty for two years is better than nothing for real-estate players and it will enable common man to buy his dream home.
I am of view that on one hand recognising slowdown in economy and on other hand increasing prices of fuel is not a good decision, this will have spiral inflationary effect on common man. He should have devised some other mode to fund the concessions announced today.
FM’s new announcement on farm loan waiver will incentivise farmers who honestly and promptly repay their loans and promote such healthy practice in them. Establishing one women police station in every district with all women staff and having jurisdiction over the district, appointing women public prosecutor to handle cases involving crime against women was a much needed step.
FM should have given a road map in the budget to address the financial health of the state & should have announced necessary steps to reduce the loan burden on state which is around whopping 4 lac crores . Provision should have been made to allot more funds to Muncipal Corporations for them to continue with the development works of their respective city .
On behalf of business community of state I wish him all the very best for successfully implementing the proposals announced today and on the scale of 10 , I give this budget 7 points.