State Govt's FY 24-25 Revenue is ₹20k cr Lower Than Estimated

The revenue accumulated by the Maharashtra government at the end of the financial year 2024-25 is at least ₹20,000 crore lower than the budget estimates announced last month.

- Surendra P Gangan

MUMBAI:

Revenue generation from almost all the major sectors, including GST, excise, stamp duty, and vehicle tax, has taken a beating. This has added to the problems of the cash-strapped state government, which is struggling to manage its expenditures after launching several populist schemes ahead of the assembly elections last year.

The shortfall is almost 6% of the targeted revenue of ₹5,36,463 crore as per the revised estimates announced by finance minister Ajit Pawar on March 10.

According to the state finance department's figures, the expected revenue from GST, VAT and professional tax collection was estimated to be ₹2,39,053 crore, but the government has managed to get just ₹14,875 crore, but fell short by nearly ₹200 crore.

"These are the collection figures taken on March 31, and we expect a rise of about ₹3,000 crore by April 7, when the revenue figures are finalised," said an official from the GST commissionerate.