Mumbai : The Maharashtra government has revised its State’s Own Tax Revenue estimates for FY 2024-25 and announced an Amnesty Scheme for Public Sector Undertakings (PSUs) in the State Budget 2025-26, presented by Deputy Chief Minister and Finance Minister Ajit Pawar in the Legislative Assembly.
According to the budget projections, the initial tax revenue estimate for FY 2024-25 was ₹3,43,040 crore. The revised estimate for FY 2024-25 now stands at ₹3,67,467 crore. For FY 2025-26, the state has set a target of ₹3,87,674 crore
The upward revision reflects Maharashtra’s robust economic performance and improved tax collection mechanisms.
Amnesty Scheme for PSU Tax Arrears
In a significant relief measure, the government has introduced an Amnesty Scheme to help Public Sector Undertaking (PSU) companies settle pending tax arrears accrued under various tax laws before the implementation of the Goods and Services Tax (GST) Act. The scheme will be called the ‘Maharashtra Settlement of Arrears of Tax, Interest, Penalty, or Late Fee (Payable by Public Sector Undertaking Companies) Act, 2025’. It will remain in force until December 31, 2025.
The initiative aims to streamline tax collections, reduce litigation, and facilitate financial restructuring of PSUs, ultimately strengthening the state’s fiscal health.
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