Gujarat Finance Minister Presents ₹3.70 Lakh Crore Budget with Tax Relief and Infrastructure Boost

Gandhinagar, February 20: Gujarat Finance Minister Kanubhai Desai presented a ₹3.70 lakh crore budget for the 2025-26 fiscal year in the State Assembly on Thursday, offering ₹148 crore in tax relief and announcing ambitious infrastructure projects. The budget includes no new taxes, maintaining a pro-growth stance while focusing on social welfare and economic development.

The proposed budget allocation of ₹3,70,250 crore reflects an 11.3% increase, amounting to ₹37,785 crore more than the previous financial year. Highlighting the government's tax relief measures, Desai announced reduced stamp duty on mortgage deeds and motor vehicle tax cuts for electric vehicles (EVs), contributing to the ₹148 crore tax relief package.

The budget is built on five key pillars: social security, human resource development, infrastructure growth, green development, and economic expansion. Desai emphasized the state's commitment to strategically planned projects and welfare schemes, proposing the creation of a ‘Vikasit Gujarat Fund’ with a ₹50,000 crore target over five years, with an initial allocation of ₹5,000 crore in the current budget.

In a major infrastructure push, Gujarat will develop two new expressways. The ‘Namo Shakti Expressway’ will connect Banaskantha to the coastal regions of Saurashtra, enhancing trade and tourism. Additionally, the ‘Somnath-Dwarka Expressway’, extending from Ahmedabad to Rajkot, will link major pilgrimage sites including Dwarka, Somnath, and Porbandar, promoting religious tourism and regional development.

Desai reiterated the government's vision of a prosperous Gujarat, driven by infrastructure development, green initiatives, and economic growth, ensuring the state remains a leading destination for investment and progress.