Gandhinagar, Feb 20 (PTI) Gujarat Finance Minister Kanubhai Desai on Thursday presented a Rs 3.70 lakh crore budget for the state for the financial year 2025-26, giving tax reliefs of Rs 148 crore.

Also, no new tax was proposed in the budget, presented by Desai in the state assembly here on the second day of its budget session.

Desai informed the House that the budget outlay of Rs 3,70,250 crore for 2025-26 indicates an increase of Rs 37,785 crore, or 11.3 per cent, compared to the previous fiscal.

The state government proposed a tax relief of Rs 148 crore in the form of reduction in stamp duty on mortgage deeds and on motor vehicle tax on electric vehicles.

In his budgetary address, Desai announced a host of new schemes and projects and said the budget was based on five pillars - social security, human resource development, infrastructure development, green growth and development of economic activities.

"To transform this vision into reality, we are committed to formulating and implementing well-planned projects and public welfare schemes. For this, I propose to create a Rs 50,000 crore Viksit Gujarat Fund over the next five years. I propose an allocation of Rs 5,000 crore (under it) in this budget," he said.

Two greenfield expressways will be developed in Gujarat - the 'Namo Shakti Expressway' connecting Banaskantha to Saurashtra's coastal areas, and the 'Somnath-Dwarka Expressway' from Ahmedabad to Rajkot, with an extension to pilgrimage centers including Dwarka, Somnath and Porbandar.

In the budget, the state government also announced that it will establish the Gujarat Reforms Commission to bring necessary reforms in the administrative procedures and integrating new technologies. PTI PJT PD GK

No new tax; budget provides targeted tax reliefs and a development fund for infrastructure and reforms. The budget announces no new tax and targeted tax reliefs-notably reduced stamp duty on mortgage deeds and lower motor vehicle tax for electric vehicles-while creating a multi-year Viksit Gujarat Fund with an initial allocation to finance infrastructure and welfare projects; it also proposes two greenfield expressways and the establishment of a Gujarat Reforms Commission to streamline administration and integrate new technologies.