Maharashtra Budget 2018 to be presented today

Mumbai: The Maharashtra Budget 2018-19 will be presented on March 9 by Finance Minister Sudhir Mungantiwar. This will be the fourth budget of the finance minister.

Maharashtra's economy is expected to grow by 7.3 percent in 2017-18 over the previous year, the Economic Survey tabled in the state Legislature Thursday said.

The Survey report was tabled in the Legislative Assembly by Finance Minister Sudhir Mungantiwar, while in the Legislative Council it was presented by Minister of State for Finance Deepak Kesarkar.

The growth of 7.3 percent (in 2017-18) is against the 10 percent growth projected during 2016-17, the survey said.

During 2016-17, the agriculture production was higher on account of good rains. However, during 2017-18 the agriculture and allied sector is expected to register (-) 8.3 percent due to less rains (84.3 percent of normal rains) as compared to last year.

Last year's economic survey had said that the agriculture sector was expected to grow by 12.5 percent. This year's report says that in 2016-17, the agriculture production was higher on account of good rains (94.9 percent of normal rains).

The production of pulses, cereals, oilseeds and cotton is expected to decrease, while the production of sugarcane is expected to go up, it said.

The month-long budget session of the Maharashtra legislature that began from February 26, will have 22 working days and nine holidays.

The Business Advisory Committee (BAC) of the Legislative Assembly and Legislative Council met at the Vidhan Bhavan in south Mumbai yesterday afternoon to discuss budget procedures.

With PTI Inputs