Mumbai: The measures, which will come into effect from Wednesday midnight will be in force for five months, state’s Finance Minister Sudhir Mungantiwar said.
The measures would be reviewed in the next budget session, he added.
“Chief Minister Devendra Fadnavis has asked all departments to make a list of how to generate more revenue and cut down on expenditure. We will have a special Cabinet meeting to discuss the same next month,” Mungantiwar said.
He said due to reduction in prices of petrol and diesel, there has been a revenue deficit of Rs 300 crore per month.
“The government has also decided to waive off LBT on petrol and diesel. This will result in total loss of Rs 1,800 crore to the state treasury,” he said.
The minister said since the government was giving so much concession for the common man, it is seeking additional Rs 2 on petrol and diesel to provide relief to the farmers.
He also said since August 1, Local Body Tax (LBT) has been waived off for businesses with turnover of less than Rs 50 crore.