Key Highlights of Maharashtra Budget 2021-22

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Key Highlights of Maharashtra Budget 2021-22

  1. A concession of 1 per cent was announced in stamp duty over the prevailing rate exclusively to women, provided the transfer of house property or registration of sale deed is in the name of a woman. A scheme for free travel of girl students in rural areas, from their villages to schools and colleges on Maharashtra State Transport buses was also announced.
  1. The VAT rate on sale of liquor as prescribed in Schedule-B of VAT Act is being increased from the existing 60 per cent to 65 per cent. The VAT on sale of liquor as prescribed in Section 41 (5) of the VAT Act is being hiked from the existing 35 per cent to 40 per cent.
  1. The budget classifies country liquor into two separate categories as branded and non-branded country liquor while increasing State Excise Duty on branded country liquor by 220 per cent of manufacturing cost or ₹187 per litre, whichever is higher.
  1. The government has decided to provide zero per cent interest crop loans to farmers who take crop loans up to a limit of ₹3 lakh and repay in time. The interest amount on the crop loan will be paid by the government on behalf of the farmers.
  1. ₹2,000 crore scheme for Strengthening of Agricultural Produce Market Committee (APMC) would be launched.
  1. A 33% concession has been given to farmers having pending electricity bill and if the farmers pay 50 per cent of the remaining arrears by March 2022, an additional 50 per cent of the remaining amount will be waived off.
  1. 170-km-long Pune Ring Road of eight-lane will be constructed at an estimated cost of ₹26,000 crore. The land acquisition work will be undertaken this year.
  1. Construction of the Pune-Nashik medium high-speed railway line of 235 km was announced at a cost of Rs 16039 crores. The state also allocated ₹9,573 crore for coastal road development between Revas in Raigad and Redi in Sindhudurg.

2 Comments

  1. March 12, 2021
    Rajiv

    Thanks to keep us update with latest developments in tax and laws..it’s TAX TOURCH..

    Reply

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