Knowledge economy, skill development to be focus of budget

MUMBAI: Maharashtra Finance Minister Sudhir Mungantiwar today said upgrading the knowledge economy and skill development for increasing employment opportunities will be the focus of his first budget, to be presented in March.

Talking to PTI, Mungantiwar said agriculture, irrigation, infrastructure, education (especially skill development) and knowledge economy will be the key areas where he will work for revenue generation which is necessary to fund social security schemes.

"Increasing taxes is not necessarily revenue generation," the minister said.

The minister said he would begin his pre-budget statewide tour to interact with stakeholders from January 12 in Gadchiroli.

To reduce the revenue deficit, the government would have to either increase taxes or borrow money, he said.

"We are in the process of discussions on this issue and a decision will be taken in three or four days," he said, adding that the current debt of the state is over Rs three lakh crore.