Mumbai: Amid ballooning fiscal deficit and rising public debt, Maharashtra Deputy Chief Minister Ajit Pawar, who holds the Planning, Finance, and Excise departments, has asked the officers to work in a result-oriented manner by bringing in coherence and reforms in the process of tax collection and revenue generation.
He also directed them not to be complacent but to be proactive in the prevention of tax evasion by making the tax collection process transparent.
Deputy CM Pawar, who on Tuesday officially took charge of these departments, held review meetings with the officers concerned about the various pending schemes, the additional funds needed for the pending and ongoing schemes and the efforts needed to achieve revenue mobilisation proposed in the state budget for 2024-25.
He also discussed key issues like revenue reforms, agricultural development, industrial investment and employment generation in the state.
He directed the officers to focus on bringing financial schemes for the welfare of farmers and common citizens.
Deputy CM Pawar’s maiden meeting took place at a time when the fiscal deficit has shot up to Rs 2.3 lakh crore, especially after the launch of several welfare and development schemes, including the much debated Ladki Bahin Yojana ahead of the recently concluded Assembly election.
The state’s public debt is expected to be Rs 7.82 lakh crore after the end of the current fiscal year as projected in the state budget.
The Deputy CM’s directive to the officers to focus on tax mobilisation is crucial especially when the GDP in the second quarter grew at 5.4 per cent and it will certainly have an impact on the growth of gross state domestic product (GSDP).
In 2024-25, Maharashtra has projected a GSDP growth of 5.5 per cent (at current prices).
This is accompanied by a three per cent growth in revenue receipts and expenditure.
The national GDP (nominal) is estimated to grow by 10.5 per cent.
Deputy CM Pawar in the budget presented in July last year has estimated the collection of state GST at Rs 1,55,756 crore in 2024-25 as compared to Rs 1,44,791 crore of the revised budget for 2023-24 which is almost eight per cent more.
The sales tax/VAT collection is predicted at Rs 62,00 crore against Rs 62,050 crore, stamp duty and registration fee Rs 55,000 crore against Rs 51,500 crore, state excise Rs 30,500 crore against Rs 29,000 crore, taxes of vehicles Rs 14,875 crore against Rs 15,000 crore, taxes and duties of electricity Rs 14,180 crore against Rs 14,000 crore, and land revenue Rs 3,000 crore against Rs 2,500 crore.
(IANS)
