Brace for financial discipline in forthcoming budget: Ajit Pawar | Mumbai News


Faced with rising fiscal deficit and increasing financial burden due to populist schemes announced ahead of elections in 2024, Deputy Chief Minister Ajit Pawar on Tuesday said that unlike last year, financial discipline will be followed in this year’s budget.

“The state budget will be presented in March. As finance minister, I will have to take strict decisions as financial discipline needs to be followed. Last year was of elections and therefore some concessions were given. But now for next five years, financial discipline has to be followed,” said Pawar. He was speaking at the distribution of journalism awards organised by Mantralaya and Vidhimandal Varahar Sangh (MVVS) at Mantralaya.

Pawar said he has the total co-operation of Chief Minister Devendra Fadnavis and Deputy CM Eknath Shinde. In the last budget, Pawar announced the state government’s ambitious Majhi Ladki Bahin scheme under which Rs 1,500 is deposited in the accounts of women below poverty line. In addition, various populist schemes for farmers were announced. The schemes have resulted in the rise of fiscal deficit to nearly Rs one lakh crore. According to an estimate, it may increase to nearly Rs 1.25 lakh crore.

In addition, as a pre-poll promise in its manifesto, ruling Mahayuti had declared to raise the Rs 1,500 limit to Rs 2,100 per month which may further hike the fiscal deficit of the state if announced. Following the announcement of previous government’s populist schemes, the finance department had been highlighting the fiscal state in each of the cabinet note.

Pawar said he has been taking the review of all departments and its finances throughout the day. “Considering the financial position of the state, I have been discussing with the department’s minister and secretaries. We are also discussing our attempts to raise the revenue from departments which give additional revenue to the state,” he said.

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