The Maharashtra Budget for 2016-17 has proposed Rs 25,000 crore for the farm sector in view of a severe drought in the state. It also tweaked certain taxes such as VAT and offered some exemptions for sugarcane and profession tax.

Presenting the second Budget of the Fadnavis government on Friday, Maharashtra Finance Minister Sudhir Mungantiwar raised the Motor Vehicle Tax on two and three wheelers. This tax will be based on engine capacity - up to 99cc, 8 per cent; 100cc to 299cc ¿ 9 per cent, 300cc and above 10 per cent. Institutional and imported vehicles will be subjected to double the rate of tax.