Maha Budget: CM Fadnavis announces loan waiver for farmers, infrastructure projects
The loan waiver scheme will be applicable to farmers with outstanding debts of up to Rs 2 lakh and whose crop loans have arrears till September 30, 2025.
The loan waiver scheme will be applicable to farmers with outstanding debts of up to Rs 2 lakh and whose crop loans have arrears till September 30, 2025.
The report suggested that to achieve the Viksit Bharat goal by 2047, India may need to significantly increase its tax-to-GDP ratio, primarily through improved tax compliance, as major tax reforms have already been undertaken.
The Budget size rises from ₹1.65 lakh crore in 2025-26 to ₹1.72 lakh crore this year. Capital expenditure has been pegged at ₹26,500 crore, reaffirming the state’s emphasis on asset creation and long-term economic capacity.
The fiscal deficit has been projected at ₹13,595.96 crore, amounting to 2.18 per cent of the estimated Gross State Domestic Product, comfortably within the 3 per cent ceiling prescribed under the Fiscal Responsibility and Budget Management framework.
The revenue deficit was estimated at Rs 22,002 crore, and the fiscal deficit was projected at Rs 75,868 crore, which amounts to 3.84 per cent of the Gross State Domestic Product (GSDP).
In this period, the net tax receipts were at Rs 14.43 trillion, or 56 per cent of the annual target, compared with Rs 14.36 trillion for the same period last year.
Centre hopes to surpass the direct tax target of Rs 22 lakh crore in the current fiscal year 2024-25, Central Board of Direct Taxes (CBDT) Chairman Ravi Agarwal said on Monday.
The fiscal deficit stood at Rs 1.36 lakh crore, compared with Rs 50,615 crore in the first two months of the year.
For FY24, the government received Rs 27,88,872 crore comprising Rs 23,26,524 crore Tax Revenue (Net to Centre), Rs 4,01,888 crore of Non-Tax Revenue and Rs 60,460 crore of Non-Debt Capital Receipts.
Replying to a debate on the Rajasthan Appropriation Bill-2022 in the state assembly here, Dr B D Kalla, the Education Minister and Minister-Incharge said that the government's on-tax revenue has increased by 28 percent, while the non-tax revenue has increased by 23 percent.
