Mumbai, Mar 10 (PTI) The Maharashtra government on Monday allocated Rs 36,000 crore for the Ladki Bahin scheme but did not announce a hike in the allowance, proposed to increase Motor Vehicle Tax by 1 per cent on CNG and LPG vehicles, as it presented a Rs 7,00,020 crore budget for the fiscal 2025-26.

Deputy Chief Minister Ajit Pawar, who holds the finance portfolio, tabled his 11th state budget in the legislative assembly and announced a new industrial policy, focussing on Rs 40 lakh crore investment and generation of 50 lakh jobs.

The Mumbai Metropolitan Region is being developed as a growth hub, and it will have a USD 1.5 trillion economy by 2047, Pawar said as he announced a third airport in the metropolis near the Vadhvan port in the neighbouring Palghar district.

While the government allocated Rs 36,000 crore for the Mukhyamantri Majhi Ladki Bahin scheme, it made no mention of the hike in the allowance from Rs 1,500 to Rs 2,100 in the beneficiaries, as promised by the ruling Mahayuti before the assembly elections last year.

Chief Minister Devendra Fadnavis, however, said the poll promise will be fulfilled after the fiscal balance is achieved, but it will not be done from April.

The government has proposed to levy a Motor Vehicle Tax of 6 per cent on electric vehicles priced above Rs 30 lakh.

The maximum limit of Motor Vehicles Tax is proposed to increase from Rs 20 lakh to Rs 30 lakh and is expected to generate an additional revenue of around Rs 170 crore.

The increase in the Motor Vehicle Tax will benefit the state exchequer by Rs 1,125 crore.

The minister announced an increase in the Motor Vehicle Tax by 1 per cent on individual-owned non-transport four-wheeler CNG and LPG vehicles depending on the vehicle type and price.

The current rate is 7 to 9 per cent, and the 1 per cent hike will generate an additional revenue of around Rs 150 crore.

The government has proposed a Motor Vehicle Tax of 7 per cent on a lump-sum basis on price vehicles used for construction, such as cranes, compressors, projectors and excavators, and this is expected to generate an additional revenue of around Rs 180 crore.

It has also proposed a 7 per cent Motor Vehicle Tax on a lump-sum basis on the price of light goods vehicles (LGVs) carrying goods up to 7,500 kg in the state, and this is expected to generate additional revenue of Rs 625 crore for the state in 2025-26.

The minister said, "Vadhvan port in Palghar will be operational by 2030," and added that the third airport for Mumbai is proposed near the port, and a station of the Mumbai-Ahmedabad bullet train will also be near the facility.

The port project will play a crucial role in strengthening the state's position in maritime trade, he said.

Pawar said the Industrial Policy 2025 aims to attract new investments and promote the "Make in Maharashtra" initiative.

He said Maharashtra will continue to be a preferred destination for industries.

The government has pegged the fiscal deficit at Rs 1,36,234 crore, and the total expenditure for 2025-26 is Rs 7,00,020 crore.

Revenue receipts were Rs 5,60,963 crore, while revenue expenditure was Rs 6,06,855 crore.

Pawar said the government has been successful in keeping the fiscal deficit below 3 per cent of the Gross State Domestic Product (GDSP), and the state's revenue deficit has been consistently less than 1 per cent of the gross state income.

The government has proposed to increase the stamp duty under section 4 of the Maharashtra Stamp Act from Rs 100 to Rs 500 on supplementary documents if more than one document is used to complete the same transaction.

It has proposed to increase the adjudication fee payable on a document under section 31 (1) of the Maharashtra Stamp Act from Rs 100 to Rs 1,000 for the chargeability of the instrument and to make a provision for depositing the amount of stamp duty primarily payable while filing the executed document.

The government has proposed a new provision for 'e-stamp certificate' in sections 10(3) and (4) of the Maharashtra Stamp Act to facilitate citizens to pay stamp duty and issue certificates online.

In his budget speech, Pawar announced a night landing facility at Shirdi airport soon.

He also said domestic flights will operate from Navi Mumbai International Airport next month, adding that 85 per cent of the work has been done and trials successfully conducted.

Also, the Metro service will link Mumbai's Chhatrapati Shivaji Maharaj International Airport with the Navi Mumbai International Airport, Pawar added.

The government has announced a Rs 15,000 crore outlay for rural housing, with a target to construct 20 lakh homes.

The minister said agriculture growth is projected at 8.7 per cent in 2024-25, compared to 3.3 per cent last year.

He said the improvement is due to support for farmers through irrigation projects and solar energy initiatives, and the state is working on increasing value addition and allied agricultural income.

Pawar said the economic growth rate is driven by reform-oriented policies and capital expenditure, which has a high fiscal multiplier.

Healthcare facilities are being expanded with a focus on accessibility, he said, adding the government is working towards ensuring healthcare services within 5 km for every resident.

The minister said the government would undertake cultural heritage projects and build a memorial at Agra, from where Chhatrapati Shivaji Maharaj escaped from Mughal custody.

Pawar said the government will celebrate Marathi Bhasha Sanman Din on October 3. PTI MR ND VT GK ARU