By Rohit Sharma
Maharashtra Finance Minister Sudhir Mungantiwar tabled the interim budget for four months, April to July, on February 27. The Maharashtra Government will table the additional budget in its next session.
The interim budget allocated Rs 6,895 crore for the PMAY or ‘Housing for All’ scheme and also announced Rs 2400 crore for Swacch Maharashtra and Amrut Cities scheme; Rs 101 crore for development of state transport bus stands across the state; Rs 26 crore for the Sagarmala Project under which jetties have to be built at various spots; Rs 3700 crore for roads under hybrid annuity and Rs 8500 crore given for development of roads and highways.
“This is a positive move and we should see more home seekers in the segment getting their dream homes, making these a reality,” said Dr Niranjan Hiranandani, Nationa President– NAREDCO. “Infrastructure and connectivity will also gain as a result of other allocations, and these will help buyers of affordable homes in peripheral areas connect with their work-places,” he added.
Hiranandani, “Pointing out that the debt stock as a percentage of GDP is expected to 14.82%, which was estimated to be 16.5%. Similarly, the Maharashtra government estimates total debt at Rs 4.14 lakh crore, which was initially estimated to be Rs 4.61 lakh crore. There has been a roadmap towards keeping fiscal deficit in control, which is a positive impact of right policy decisions.”
A revenue deficit Interim Budget of Rs 19,784 crore was presented by government before the state Assembly while allotting Rs 9,566 crore for the irrigation sector, with a focus on Vidarbha, Marathwada and the drought-hit regions.
According to Rohit Poddar, MD – Poddar Housing and Development said, “The allocation of Rs 8500 crores for the development of roads and highways will not only ensure seamless commute but also have a positive impact on the real estate sector. The budget has been presented on the backdrop of the general elections and the state government has continued the commitment for the affordable sector by handing out a boost to PMAY and Housing for all scheme of the government with the current allocation of Rs 6,895 crore.”
“Implementing the mission to deliver ‘housing for all’, going forward, Maharashtra State budget aims at sustainable and clean living with a major emphasis on affordable housing through an allocation of the required amount of funds within the PMAY scheme. Post GST reforms, the state budget will only improve the sector on a whole resulting in increased investments coupled with an increase in housing sales. To strengthen the infrastructure & connectivity within the state of Maharashtra, development of roads and highways has been given impetus as well, which will improve livability quotient leading to a paradigm shift in the state of Maharashtra. We can see a considerable growth of skilled labour in the state with unemployment rates coming down drastically and uplifting the spirits of rural entrepreneurs. This budget affects the overall industry by having provisions for highway development, clean Maharashtra, development of rural entrepreneurs and skilled labour which is precisely the need of the hour.” said Manju Yagnik, Vice Chairperson Nahar Group.