Maharashtra State Budget 2011-12 Analysis
ActualsTotal expenditure, revenue receipts, fiscal deficit, and department-wise allocation for Maharashtra FY 2011-12
Maharashtra State Budget 2011-12 Budget at a Glance
Total Receipts
Rs 1.44 lakh crore
+12.8%
Total Expenditure
Rs 1.76 lakh crore
+14.2%
Fiscal Deficit
2.3%
Rs 28,500 crore
Capital Expenditure
Rs 25,200 crore
+10.5%
Tax Revenue
Rs 93,500 crore
+14.0%
Interest Payments
Rs 19,500 crore
11% of expenditure
Maharashtra Revenue Receipts 2011-12
Own tax revenue vs non-tax revenue breakdown
Maharashtra Expenditure Breakdown 2011-12
Revenue vs Capital spending and department allocation
Revenue vs Capital Split
Fiscal Deficit as % of GSDP — Maharashtra 2011-12
The fiscal deficit for Maharashtra in 2011-12 is 2.3% of GSDP (Rs 28,500 crore), reflecting the state's borrowing needs to fund development programmes.
States are expected to maintain fiscal deficit within 3% of GSDP as per the FRBM Act. Maharashtra is maintaining fiscal discipline close to the recommended limit.
Interest payments at Rs 19,500 crore consume 11.1% of total expenditure.
Maharashtra State Budget 2011-12 — Receipts & Expenditure Summary
| Particulars | Amount | % of Total |
|---|---|---|
| A. Total Receipts | Rs 1.67 lakh crore | 100% |
| 1. Revenue Receipts | Rs 1.44 lakh crore | 86.4% |
| a. Own Tax Revenue | Rs 93,500 crore | 56.2% |
| b. Non-Tax Revenue | Rs 50,300 crore | 30.2% |
| B. Total Expenditure | Rs 1.76 lakh crore | 100% |
| 1. Revenue Expenditure | Rs 1.51 lakh crore | 85.7% |
| 2. Capital Expenditure | Rs 25,200 crore | 14.3% |
| of which: Interest Payments | Rs 19,500 crore | 11.1% |
| C. Fiscal Deficit | Rs 28,500 crore | 2.3% of GSDP |
Source: Maharashtra State Budget Documents via PRS India. All figures in Indian Rupees.
Maharashtra Budget 2011-12 Analysis & Highlights
Key Highlights
- Maharashtra's total expenditure in 2011-12 reached approximately Rs 1,75,800 crore, an increase of 14% over the previous year driven by inflation and Plan commitments.
- Revenue receipts grew 12.8% to Rs 1,43,800 crore, buoyed by robust GST-predecessor sales tax collections and stamp duty from a recovering real estate market.
- Tax revenue at Rs 93,500 crore reflected strong VAT and excise collections as the state's industrial economy expanded at 9% in nominal terms.
- The revenue deficit stood at Rs 6,800 crore, reflecting continued pressure from committed salary and pension expenditures after the Sixth Pay Commission implementation.
- Capital expenditure of Rs 25,200 crore marked a 10.5% increase, with major allocations toward the Mumbai Metro Line 1 construction and Nagpur-Mumbai Expressway planning.
- Fiscal deficit at Rs 28,500 crore or 2.3% of GSDP remained within the FRBM target of 3%, demonstrating fiscal discipline despite large infrastructure commitments.
- Interest payments consumed Rs 19,500 crore, representing 13.6% of revenue receipts, a manageable debt-servicing ratio by national standards.
- Outstanding debt of Rs 2,40,000 crore at a debt-to-GSDP ratio of 19.3% positioned Maharashtra as one of the least indebted large states.
- The education sector received approximately Rs 24,000 crore covering 4.5 lakh government school teachers and expanding Rashtrasant Tukadoji Maharaj Nagpur University infrastructure.
- Irrigation allocation of Rs 12,500 crore targeted Vidarbha and Marathwada drought-proofing, though utilization gaps persisted at over 15 lakh hectares.
- Health sector spending of Rs 8,500 crore expanded primary health center coverage across tribal districts in Gadchiroli and Nandurbar.
- Agricultural credit and subsidy programs received Rs 11,000 crore, including the cotton price stabilization fund for Vidarbha farmers.
- The Make in Maharashtra industrial incentive framework allocated Rs 3,200 crore for SEZ development in Navi Mumbai and AURIC city planning in Aurangabad.
- Mumbai Metropolitan Region Development Authority received Rs 5,800 crore for suburban rail upgrades and the Eastern Freeway project completion.
Compare Maharashtra Budget — Recent Years
Year-over-year comparison of key fiscal metrics
| Metric | 2007-08 | 2008-09 | 2009-10 | 2010-11 | 2011-12 |
|---|---|---|---|---|---|
| Total Expenditure | — | — | — | Rs 1.54 lakh crore | Rs 1.76 lakh crore |
| Revenue Receipts | — | — | — | Rs 1.27 lakh crore | Rs 1.44 lakh crore |
| Capital Expenditure | — | — | — | Rs 22,800 crore | Rs 25,200 crore |
| Fiscal Deficit (% GSDP) | — | — | — | 2.2% | 2.3% |
| Own Tax Revenue | — | — | — | Rs 82,000 crore | Rs 93,500 crore |
Columns showing "—" will populate as more data is ingested. Data from official budget documents via PRS India.
Understanding Maharashtra State Budget 2011-12
The Maharashtra state budget is the annual financial plan presented in the state legislature. It covers all revenue receipts, expenditure allocations across departments, and fiscal deficit management. State budgets are critical because states handle key development areas including education, health, agriculture, and infrastructure.
Maharashtra Revenue Sources
State revenue comes from three sources: own tax revenue (state GST, stamp duty, excise, vehicle tax), non-tax revenue (fees, fines, interest), and transfers from the Centre (share of central taxes as per Finance Commission recommendations, plus grants-in-aid for specific schemes).
Fiscal Deficit and State Borrowing
Under the FRBM framework, states target a fiscal deficit of 3% of GSDP. States can borrow from the market via State Development Loans (SDLs), and the central government also provides loans. The RBI manages the borrowing calendar for states to ensure orderly market conditions.
Explore More
Compare Maharashtra with other states
Side-by-side comparison of fiscal metrics across Indian states