Maharashtra: Key Takeaways From INR 6,12,293 Cr Budget 2024-25

The Maharashtra budget 2024-25 was presented by the Deputy Chief Minister and State Finance Minister Ajit Pawar in the Legislative Assembly on Friday, June 28. It highlighted several key issues to promote the growth and development of the state.

He paid tribute to the Chhatrapati Shivaji Maharaj before presenting the interim budget of the state for the year 2024-25, at Vidhan Bhavan premises, in Mumbai.

Pawar outlined a budget of INR 6,12,293 crores for a total expenditure with the expected revenue deficit of INR 20,051 crores and the fiscal deficit of INR 1,10,355 crores.

Here are the key highlights of the budget:

Schemes for youth 

• Mukhya Mantri Yuva Karyaprashikshan Yojana” – training to 10 lakh youths every year - a stipend up to INR 10,000 per month by the Government. The expenditure for this scheme around INR 10,000 crores every year.
• Every year, 50,000 youths will be imparted training to disseminate the information about the Government schemes to the people.
• “Applied Knowledge and Skill Development for Human Development” - World Bank assisted  project -costing INR 2307 crores - upgradation of 500 Industrial Training Institutes, strengthening of various institutions.
•  “Centre of Excellence” – Establishment in technical education institutions - in Mumbai, Pune, Nagpur, Amravati, Yavatmal, Kolhapur, Chhatrapati Sambhajinagar, Karad in District Satara and Avasari Khurd in District Pune.
• “Swami Vivekananda International Skill Development Prabodhini” functional at Govandi, Mumbai - A total of 511 “Pramod Mahajan Rural Skill Development Kendras” - set up in rural areas - skill training to 18,980 candidates in the age group of 15 to 45.
• Tribal Research and Training Institute (TRTI), Dr. Babasaheb Ambedkar Research and Training Institute (BARTI), Chhatrapati Shahu Maharaj Research and Training Institute (Sarathi), Mahatma Jyotiba Phule Research and Training Institute (Mahajyoti), Maharashtra Research and Training Prabodhini (Amrit) etc. - working on employment oriented training programs - 2,51,393 students given training and 52,405 students obtained jobs.
• Research and Innovation Centers - a total of INR 100 crores, i.e. INR 50 crores each from the universities and the Government.
• INR 100 crores fund for financial assistance to self-employment schemes, through the Shabari Tribal Finance and Development Corporation.
• Minority communities’ students - A scholarship scheme for foreign education from 2024-25.
• Dnyanjyoti Savitribai Phule Aadhaar Yojana - Accommodation allowance to the students for higher education - INR 38,000-60,000 – to Other Backward Classes, Vimukta Jati and Nomadic Tribes and Special Backward Classes”
• Gopinath Munde Tod Kamgar Vikas Mahamandal - 82 Government hostels will be established for the children of sugarcane workers.
• Approval to establish new Government Medical Colleges with intake capacity of 100 students with 430 bedded hospitals.
• New Government Unani College at Mauje Savar, Taluka Mhasla, District Raigad. And a new Government Ayurveda College at Buldhana district.
• Substantial increase in the stipend of junior and senior resident doctors in Government Medical Colleges and also in the remuneration of voluntary teachers.
• Thrust sector - investment of approximately INR 1 lakh crores - will create 50,000 jobs.
• Green hydrogen - investment of INR 2,11,400 crores - will generate 55,900 jobs.
• India Gems and Jewellery Park” on 25 acres of land at Mahape, Navi Mumbai. It includes 2000 micro, small and medium enterprises with an investment of INR 50,000 crores which will generate 1 lakh jobs.
• An integrated and sustainable textile policy 2023-2028 - It envisages substantial investment of INR 25,000 crores and will generate 5 lakh jobs.
• To increase private investment - Government decided to set up small-scale textile industry complexes and technical textile parks
• A scuba diving center in Sindhudurg district - expected cost INR 20 crores and will provide employment to 800 local people.

Read More: Maharashtra Budget 2024: Key Announcements For Women Empowerment & Better Facilities

Schemes for farmers

• From July, 2022 assistance of INR 15,245.76 crores- for loss of crops due to natural calamities
• Assistance of INR 2,253 crores to 24.47 lakh farmers affected by unseasonal rains during November-December, 2023.
• Limitation of damage area to three hectares instead of two – aid given at a higher rate than the State Disaster Response Fund criteria.
• For Kharif season 2023, drought in 40 taluks and drought-like situation in 1021 revenue circles and various concessions are given.
• Quick and transparent E-Panchnama system will be implemented in the entire State.
• Namo Shetkari Mahasanman Nidhi Yojana - INR 5318.47crores subsidy given to 92.43 lakh farmer families 
• “Mahatma Jyotirao Phule Shetkari Karjmukti Yojana” 14.33 lakh farmers who regularly repaid their crop loans have been paid INR 5190 crores as incentive amount, the rest of the amount will be distributed expeditiously
• Second phase of Nanaji Deshmukh Agricultural Sanjeevani Project worth INR 6,000 crore will be implemented in 21 districts.
• Balasaheb Thackeray Agribusiness and Rural Transformation Project - Approval of 767 sub-projects worth INR 1561.64 crore -benefiting about 9 lakh farmers
• Rastriya Krishi Vikas Yojana and the State Agricultural Mechanization Scheme - 1239 crores subsidy given for the purchase of 2.14 lakh agricultural implements in the last three years.
• A new scheme "Gaon tethe Godam" - In the first phase- construction of 100 new godowns and repair of existing godowns will be undertaken.
• A special action plan -to increase productivity and value chain development of cotton, soybean and other oilseeds. A provision of INR 341 crores  for the year 2024-25.
• A revolving fund of INR 100 crores - for the purchase of pulses and oilseeds, through NAFED, at support price, in kharif and rabi seasons.     
• INR 5000 per hectare assistance to the cotton and soybean farmers, in a limit of two hectares during Kharif season 2023-24
•  subsidy to onion farmers - An amount of INR 851.66 crores, at a rate of Rs 350 per quintal in the year 2023-24.
• A revolving fund of INR 200 crores each is being created for assured purchase of onion and cotton.
•  Subsidy to registered milk producers - An amount of INR 223.83 crores distributed to 2.93 lakh registered milk producers. The remaining subsidy will also be disbursed immediately.
• Milk Subsidy - INR 5 per litre subsidy will continue from July, 2024 onwards
• launch of new Scheme- “Dairy Business Entrepreneurship Project” - create new entrepreneurs in the fields of animal husbandry, dairy farming, animal fodder and animal feed production.
• Two new projects - to promote goat-sheep and poultry rearing
• Adequate funds - for the establishment of fish markets and fish selling facilities
• Atal Bambu Samriddhi Yojana - Bamboo Plantation on 10,000 hectares of private land - farmers are provided a subsidy of INR 175 per plant.
• Bamboo will be planted in a large scale on waste land – In Nandurbar district planting bamboo on an area of 1.20 lakh acres.
• The amount of compensation has been increased from INR 20-25 lakhs in the case of loss of life due to attack by wild animals, from INR 5-7.50 lakhs in the case of permanent disability, from INR 1.25-5 lakhs in the case of serious injury and from INR 20,000-50,000 in the case of minor injury. Crop damage compensation has also been increased from INR 25,000-50,000.
• A special campaign to complete irrigation projects - 61 projects are expected to be completed - About 3.65 lakhs hectare irrigation potential will be created.
• Maharashtra Irrigation Improvement Program - improve canal distribution systems of 155 projects about 4.28 lakh hectares of increased area will benefit from direct irrigation.
• financial assistance from NABARD - INR 15,000 crores- for completion of incomplete irrigation projects as well as improvements in the distribution systems.
• A pilot solar power project - at Mhaisal, District Sangli The estimated cost is INR 1,594 crores - benefit about 75,000 farmer families of Sangli and Solapur districts.  
• All government irrigation schemes will be solarized  - including Janai-Shirsai, Purandar lift irrigation schemes - to achieve the goal of clean and green energy. A Cost of Rs.4,200 crores is expected.
• Vainganga-Nalganga interlinking project- Irrigation benefits to 3,71,277 hectares in Nagpur, Wardha, Amravati, Yavatmal, Akola and Buldhana districts.
• Maharashtra Responsive Development Program - World Bank aided Program- costing INR 3,200 crores - implemented to avoid loss of lives and finances due to floods in Kolhapur and Sangli districts and to divert excess water to drought-affected areas.
• Jalyukt Shivar Abhiyan-2 - A total number of 49,651 works completed - a provision  of Rs. 650 crores
• “Galmukt Dharan, Gal yukt Shiwar” scheme - removing silt from 338 reservoirs - 83,39,818 cubic meters of silt removed
• “Magel Tyala Solar Power Pump” - to provide uninterrupted electricity to farmers during day time - worth INR 15,000 crores - total 8.50 lakh beneficiaries

Schemes for weaker sections

• Sustainable Development Goal of “elimination of universal poverty in all its forms” through effective implementation of schemes.
• ‘Sanjay Gandhi Niradhar Anudan Yojana’ and ‘Shravanbal Seva Rajya Nivrutivetan Yojana’ provide monthly financial assistance to destitutes, widows, disabled and elderly citizens from economically weaker sections. This financial assistance has been increased from INR 1000-1500.
• Sant Shree Ruplal Maharaj Economic Development Corporation will be established for the economic, social and educational development of the Bari community which produces paan, paanpimpri and muesli.
•  Adequate provision of funds will be made for newly created as well as existing corporations
• Divyang persons - Dharmaveer Anand Dighe Gharkul Yojana - under which 34,400 houses will be constructed in the first phase.
• Electric vehicles - distributed - to Divyang persons.
• State announced Third Gender Policy - The "Third Gender" option has been made available - in the recruitment process by the Government and public authorities - This will make it easier for the third gender community to take benefit of schemes.
• A plot for Dhangar community - 4,000 square meters at Kharghar, Navi Mumbai, for educational and social activities.
• Maharashtra Domestic Workers Welfare Corporation - Various welfare schemes - for registered domestic workers.
• Maulana Azad Minority Economic Development Corporation- Government guarantee on loans - increased from INR 30 crores to INR 500 crores.
• Mahatma Jyotirao Phule Jan Arogya Yojana - for all the families in the State.
• Health insurance cover increased from INR 1,50,000 to INR 5 Lakhs per family - 1900 hospitals and 1356 types of treatment available.
• INR 100 crores for stabilization and liquidity of credit institutions.
• Total 35,40,491 houses will be constructed in the next five years through Pradhan Mantri Awas Yojana, Ramai Awas Yojana, Shabri, Pardhi and Adim Awas Yojana, Modi Awas Yojana, Yashwantrao Chavan Mukt Vasahat Yojana, Punyashlok Ahilya Devi Holkar Gharkul Yojana etc.
•  A provision of INR 7,425 crores - for various housing schemes in 2024-25.
• In BMC area 12,954 houses have been distributed to the mill workers and it is planned to provide the remaining houses.
• INR 1886.84 crores provision for the second phase of Swachh Bharat Abhiyan
• Important schemes in infrastructure and other various sectors
• Mumbai, Pune and Nagpur Metro lines of 449 Km sanctioned - 127 Km already operational. Another 37 Km length will be operational in this financial year.
• Sewri-Worli link road project -will be completed by the end of December, 2025.
• Thane coastal road - Balkum to Gaymukh,  - length 13.45 Km, cost INR 3,364 crores, expected to be completed by May, 2028.
• Pradhan Mantri Gramsadak Yojana, Phase-III - target of 6,500 Km road improvement - 2,303 Km completed,
• Mukhyamantri Gramsadak Yojana Phase-III - target of 23,000 Km of roads improvement will be completed in next three years.
• Bhagwan Birsa Munda Jodraste Yojana - A provision of INR 1,400 crores.
• Implementation of Sant Sewalal Maharaj Jodraste Yojana and Yashwantrao Holkar Jodraste Yojana will be started soon.
• PM E-Bus Seva Scheme will be implemented in 19 Municipal Corporations
• Expansion and modernization of fire services Scheme - costing INR 615 crores in “D” Class Municipal Corporations, all Municipal Councils and Nagar Panchayats.
• A provision of INR 125 crores - construction and renovation of office buildings under the Charity Commissioner.
• Balasaheb Thackeray Smriti Matoshree Gram Panchayat Construction Scheme - Construction of 2567 Gram Panchayat Offices sanctioned
• World Heritage nomination -A proposal sent to UNESCO to get for 12 forts of the Shiva period. Proposals will also be sent for Katal Shilpe in Konkan, Pandharpur Vari, Dahihandi Utsav and Ganeshotsav.
• The Government has decided to celebrate Shivarajyabhishek ceremony at Raigad fort every year
• A submarine project of international stature at Vengurla, District Sindhudurg - estimated cost of INR 66 crores.
• Western Ghat area of Satara district - an integrated tourism development plan worth INR 381.56 crores approved.
•  Malshej Ghat - A modern viewing gallery will be set up .
• Ramtek Development Plan, Nagpur district - second phase worth INR 211 crores will be undertaken.
• Memorial of spiritual Guru and Social reformer Baba Jumdevji at Pavadauna, Tal. Mauda, District Nagpur - Development Plan will be prepared
• A plan will be prepared for the development of temple premises at Nevasa where Saint Dnyaneshwar Maharaj had recited immortal  Dnyaneshwari
• A State-of-the-art international convention center will be set up near the Rajaram lake in Kolhapur city.
• Necessary funds will be made available- for the construction of a multi-purpose auditorium at B.J. Government Medical College, Pune and for the development of infrastructure and educational facilities on the occasion of the Golden Jubilee of Kisan Shikshan Prasarak Mandal, Borgaon-Kale Taluka District Latur.
• A memorial of Chhatrapati Sambhaji Maharaj will be built at Shirala, District Sangli.
• A memorial of Sant Shri Ruplal Maharaj will be built at his samadhisthal at Anjangaon Surji, District Amravati
• An Art Gallery at Hatgad Taluka Surgana District Nashik -for the exhibition, development and promotion of tribal arts.
• Sahitya Ratna Lokshahir Annabhau Sathe Research and Training Institute, Mumbai, Plan Sanctioned of INR 305 crores
• World Bank assisted Project “Mahastride”, costing INR 2,232 crores, will be implemented to promote development by increasing institutional capacity at the district level.
•  ‘Mukhya Mantri Baliraja Vij Savlat Yojana- provide free electricity to agriculture pumps up to 7.5 horse power capacity- Will help 44.06 lakh farmers. INR 14,761 crores of subsidy.