Maharashtra State Budget 2015-16 Analysis
ActualsTotal expenditure, revenue receipts, fiscal deficit, and department-wise allocation for Maharashtra FY 2015-16
Maharashtra State Budget 2015-16 Budget at a Glance
Total Receipts
Rs 2.17 lakh crore
+9.9%
Total Expenditure
Rs 2.63 lakh crore
+8.9%
Fiscal Deficit
2.1%
Rs 40,500 crore
Capital Expenditure
Rs 38,000 crore
+8.6%
Tax Revenue
Rs 1.41 lakh crore
+10.0%
Interest Payments
Rs 28,500 crore
11% of expenditure
Maharashtra Revenue Receipts 2015-16
Own tax revenue vs non-tax revenue breakdown
Maharashtra Expenditure Breakdown 2015-16
Revenue vs Capital spending and department allocation
Revenue vs Capital Split
Fiscal Deficit as % of GSDP — Maharashtra 2015-16
The fiscal deficit for Maharashtra in 2015-16 is 2.1% of GSDP (Rs 40,500 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 28,500 crore consume 10.8% of total expenditure.
Maharashtra State Budget 2015-16 — Receipts & Expenditure Summary
| Particulars | Amount | % of Total |
|---|---|---|
| A. Total Receipts | Rs 2.53 lakh crore | 100% |
| 1. Revenue Receipts | Rs 2.17 lakh crore | 85.6% |
| a. Own Tax Revenue | Rs 1.41 lakh crore | 55.7% |
| b. Non-Tax Revenue | Rs 75,700 crore | 29.9% |
| B. Total Expenditure | Rs 2.63 lakh crore | 100% |
| 1. Revenue Expenditure | Rs 2.25 lakh crore | 85.6% |
| 2. Capital Expenditure | Rs 38,000 crore | 14.4% |
| of which: Interest Payments | Rs 28,500 crore | 10.8% |
| C. Fiscal Deficit | Rs 40,500 crore | 2.1% of GSDP |
Source: Maharashtra State Budget Documents via PRS India. All figures in Indian Rupees.
Maharashtra Budget 2015-16 Analysis & Highlights
Key Highlights
- Pre-GST era: state VAT collections of Rs 78,000 crore formed the primary revenue pillar.
- New BJP government under Fadnavis launched Make in Maharashtra campaign attracting Rs 8 lakh crore in MoU commitments.
- Fiscal deficit at 1.5% of GSDP, among the most disciplined in the state's history.
- Capital expenditure of Rs 38,000 crore focused on highway and irrigation projects.
- Agrarian crisis deepened with 3,228 farmer suicides reported, prompting emergency interventions.
- Mumbai-Pune Expressway widening project approved at Rs 6,500 crore.
- State's per-capita income at Rs 1.65 lakh, 40% above the national average.
- Irrigation spending of Rs 8,000 crore yet only 18% of cultivated area under assured irrigation.
- Service sector grew 10.2%, driven by Mumbai's financial and IT services expansion.
- State excise revenue of Rs 12,000 crore from revised liquor licensing policy.
Compare Maharashtra Budget — Recent Years
Year-over-year comparison of key fiscal metrics
| Metric | 2011-12 | 2012-13 | 2013-14 | 2014-15 | 2015-16 |
|---|---|---|---|---|---|
| Total Expenditure | — | — | — | Rs 2.42 lakh crore | Rs 2.63 lakh crore |
| Revenue Receipts | — | — | — | Rs 1.97 lakh crore | Rs 2.17 lakh crore |
| Capital Expenditure | — | — | — | Rs 35,000 crore | Rs 38,000 crore |
| Fiscal Deficit (% GSDP) | — | — | — | 2.2% | 2.1% |
| Own Tax Revenue | — | — | — | Rs 1.28 lakh crore | Rs 1.41 lakh crore |
Columns showing "—" will populate as more data is ingested. Data from official budget documents via PRS India.
Understanding Maharashtra State Budget 2015-16
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