Thaindian News

Mumbai, March 23 (IANS) Liquor and soft-drinks in Maharashtra will cost more as Deputy Chief Minister and Finance Minister Ajit Pawar Wednesday raised taxes on these products and exempted foodgrain while presenting a Rs.121,445 crore budget for 2011-12 that shows a surplus of Rs.58 crore.

During 2011-12, receipts are expected at Rs.121,503 crore and expenditure at Rs.121,445 crore, Pawar said, adding the revenue deficit was proposed to be eliminated during the fiscal and a marginal surplus of Rs.58 crore was expected during the period.

His maiden “people-friendly” budget speech was marked by non-stop slogan shouting by opposition members, making him virtually inaudible throughout the nearly one-and-half hour presentation.

He said that in 2010-11, the state’s receipts were Rs.107,159 crore against Rs.86,910 crore during the previous fiscal, an increase of 23.3 percent.

The receipts had been estimated at Rs.97,043 crore.

In view of the trend of revenue collection during the current year, revised estimates of revenue receipts were fixed at Rs.107,159 crore.

Revenue expenditure at the beginning of the year was expected to be around Rs.104,698 crore, but in the revised estimates, it has been pegged at Rs.112,846 crore.

Pawar also announced a new scheme - Krishi Sanjeevani Yojna-2011 - for farmers.

“Even after giving heavy concessions in electricity rates, electricity dues are outstanding with several farmers. By December 2010, the outstandings against electricity bills of farmers was about Rs.5,900 crore, including the principal amount of Rs.2,910 crore, interest of Rs.2,930 crore and penal interest of Rs.59 crore,” he said.

Launching KSY, he said that it had been decided to waive off interest and penalties in respect of those farmers, who pay in full the outstanding principal amount as of a specified cut-off date. Over 2.2 million farmers are expected to benefit from this scheme, he said.