Gujarat cuts stamp duty on mortgage deeds, tax on EVs in Rs 3.7 lakh cr budget for FY26

Gandhinagar, Feb 20 (PTI) The Gujarat government on Thursday presented a Rs 3.70 lakh crore budget for 2025-26, offering a tax relief of Rs 148 crore by reducing the stamp duty on mortgage deeds and the motor vehicle tax on electric vehicles (EVs).

Finance Minister Kanubhai Desai proposed no new tax in the budget tabled in the state assembly.

The outlay of Rs 3,70,250 crore is higher by Rs 37,785 crore or 11.3 per cent over the 2024-25 budget.

The minister also proposed to set up the 'Gujarat Reforms Commission' to bring in necessary changes in administrative procedures and integrate new technologies. He said reduction in stamp duty on mortgage deeds, and that of vehicle tax on EVs would give tax relief of Rs 148 crore to people.

After the presentation of the budget, Gujarat Chief Minister Bhupendra Patel said it is a "blueprint for systematically implementing Prime Minister Narendra Modi's vision of 'Viksit Bharat' through public welfare schemes. As part of this, a Rs 50,000 crore Viksit Gujarat Fund has been announced to boost the state's growth.

"The budget, the largest in the state's history, reflects a commitment to development, with a 21.8 per cent increase in capital expenditure compared to the previous year." "The budget is a successful effort to make the lives of Gujarat's citizens more comfortable, prosperous, and fulfilling," he added.

State finance minister Desai said the budget was based on five pillars -- social security, human resource development, infrastructure development, green growth and development of economic activities.

The state government has prepared a roadmap for 'Viksit Gujarat 2047, the minister said.

"For this, I propose to create a Rs 50,000 crore Viksit Gujarat Fund over the next five years. I propose an allocation of Rs 5,000 crore in this budget (for the fund)," he said.

Six "growth hubs", including the Surat Economic Region, will be developed, he said. For this, regional economic plans are being developed for Ahmedabad, Vadodara, Rajkot, Coastal Saurashtra region and Kutch to facilitate a "comprehensive and balanced economic development of the state," the minister added.

To tap the potential of the services sector, a new Commissionerate of Services will be set up, Desai announced.

A master plan to optimize water storage of rivers in the state and maximize groundwater recharge will be developed on the basis of techno-feasibility study across 185 river basins, he said.

Under the 'Garvi Gujarat High Speed Corridor' project, 12 new high-speed corridors of 1,367 kilometres will be developed.

Two greenfield expressways -- the 'Namo Shakti Expressway' connecting Banaskantha to Saurashtra's coastal areas and the 'Somnath-Dwarka Expressway' from Ahmedabad to Rajkot -- will be constructed with extension to pilgrimage centres including Dwarka, Somnath and Porbandar.

The expansion of airports at Surat, Vadodara, Bhavnagar and Porbandar will be undertaken while a greenfield airport will be developed at Dahod, the finance minister said. PTI PJT PD GK BNM CS CS

Source: PTI