Imposing no new taxes, the Gujarat government on Thursday presented a ₹3.7 lakh crore surplus Budget for the year 2025-26, reflecting an increase of 11.36 per cent in budgetary provisions compared to the previous year.
Providing a total relief of ₹148 crore, State Finance Minister Kanu Desai slashed stamp duty levied on ancestral properties, mortgage deeds for loans up to ₹1 crore and lease deeds. Unveiling the Budget that projects an estimated ₹859 crore surplus for the financial year 2025-26, Desai introduced proposals that include a new airport in tribal-dominated Dahod, two greenfield expressways, opening-up of agricultural land for fish-farming and an ambitious ₹50,000 crore “Viksit Gujarat Fund”.
Providing details of stamp duty reliefs, Desai stated that during the execution of the release deed by legal heirs of pre-deceased daughters for ancestral property, a stamp duty of ₹200 will be levied, which is the same as payable by legal heirs of pre-deceased sons. This provision will replace the existing stamp duty of 4.9 per cent. Similarly, the stamp duty levied on ‘mortgage deed’ for loan amounts of up to ₹1 crore, will be capped at ₹5,000 from ₹25,000 and in place of 1 per cent stamp duty on the average annual rent on lease deeds of less than one year, a duty of ₹500 will apply to residential properties, while commercial properties will incur ₹1,000.
The Gujarat government also proposed to simplify motor vehicle tax for fully battery-operated electric vehicles, introducing a uniform 6 per cent tax rate instead of the existing 8 per cent and 12 per cent levied based on passenger carrying capacity for Maxi category. “This will boost the tourism sector of the State,” the Finance Minister said.
Presenting other key budget proposals, Desai said to formulate and implement well-planned projects and public welfare schemes, the State government proposes to create a ₹50,000 crore Viksit Gujarat Fund over the next five years. In this budget, ₹5,000 crore has been allocated to this fund. A provision of ₹210 crore has been made for the development of a new greenfield airport at Dahod and the expansion of existing airports at Porbandar, Bhavnagar, Surat and Vadodara.
The government also announced its intent to develop two greenfield expressways in the State. The first, “Namo Shakti Expressway,” which will connect Banaskantha to Saurashtra’s coastal region i.e. from Deesa to Pipavav. The second, “Somnath-Dwarka Expressway,” connecting Ahmedabad to Rajkot, with an extension to pilgrimage centres, including Dwarka, Somnath and Porbandar.
In a major move that will open up agricultural land for fishing-related activities, the government said non-agriculture (NA) approval will not be required for fish farming on agricultural land. Pointing out that the “Kisan Suryodaya Yojana,” farmers in 16,683 villages of Gujarat, which constitute 97 per cent of the total villages in the State, the State government has provided daytime power so that the farmers do not need to work at night time, finance minister allocated ₹2,175 crore to strengthen this scheme. In the renewable energy space, ₹300 crore has been allocated for solar projects at 14 locations on pumping stations and hydropower stations of Saurashtra and Kutch branch canals. The government has also made a ₹650 crore provision for projects under the Gobardhan project where garbage can be converted into energy in the villages of Gujarat.
Among important projects, a provision of ₹100 crore has been made to establish the Gujarat Institute of Technology which will function like the IITs and equip students with skills in areas such as green energy, semiconductors, fintech and aerospace. In addition, ₹72 crore has been provided for the development of infrastructure within GIFT City.
The government also provided ₹290 crore to develop a Bulk Drug Park at Jambusar in the Bharuch district in South Gujarat. The finance minister said that the government is also planning to prepare a pre-feasibility report for 13 agri-export zones and planning to construct five mega food parks at Kutch, Ahmedabad, Junagadh, Vadodara and Halol. For the development of ports, a provision of ₹250 crore was made for Navlakhi and Magdalla ports. There is also a plan to develop a port-led city in the state, for which ₹100 crore provision has been made.
To support small, medium and large industries and start-ups in the state, a provision of ₹3,600 crore is made to provide assistance under various schemes. Similarly, ₹2,000 crore of assistance has been proposed under the Gujarat Textile Policy. The government also made a ₹2,730 crore provision for metro rail projects in the State.
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