4 years of Fadanvis Government, Maharashtra becomes the most indebted state

Currently, the state has a loan of Rs 4, 34,000 crore, and the loan of Rs 1.41 lakh crore have increased in the last 4 years. That means there is a loan of 35 thousand 126 rupees on each person in the state.

Mumbai
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he BJP government, led by Chief Minister Devendra Fadnavis has completed 4 years today but instead of talking about its achievement, what is being most talk about in the country is the worst ever mark that the BJP government has given to the state. Maharashtra, the state which is known as the most advanced and industrial state in the country, has got the mark of being highest indebted state in the country. Currently, the state has a loan of Rs 4, 34,000 crore, and the loan of Rs 1.41 lakh crore have increased in the last 4 years. That means there is a loan of 35 thousand 126 rupees on each person in the state.

In last 4 years the BJP government has rose the debt on the state by 48%. In 2014, when Congress-NCP alliance government lost to power in the state, there was a loan of 2 lakh 93 thousand crore rupees to the state. In the last four years, the BJP-Shiv Sena alliance government has put the debt of Rs. 4 lakh 34 thousand crore in the name of development work. State Government has to give Rs. 31,656 crore as principal and interest amount against the loans of 4 lakh 34 thousand crore. This has made Maharashtra number one debt-ridden state in the country.

Towards the end of 2017, the state government had a debt burden of Rs 3, 38, 730 crore. However, in the financial year ending in March 2018, the number of loans has reached 4, 34,000 crore. According to the Reserve Bank’s calculation, Uttar Pradesh is in second place and West Bengal is the third largest debt-ridden state in the country. Andhra Pradesh is on fourth place and Gujarat ranked fifth.

A senior officer of the finance department told ‘My Mahanagar’ that the farmer’s debt waiver of Rs 34,000 crore, the Metro rail projects, Chhatrapati Shivaji Maharaj’s tallest statue in Arabian Sea and other infra-work has caused to this increased debt. The official said that even though the state has got Rs 35,000 crore through GST, the seventh pay commission will have to bear the burden of Rs 17,000 crore in the next few months. That is why budget provisions have been reduced drastically.

Ashok Chavan, State President, Congress

The BJP government does not have any financial planning of the state. BJP who criticized our government for the debt of 1 lakh 15 thousand crore, has now tripled the debt of 4.5 lakh crore rupees. The state’s gross income has been lowered and expenditures have increased tremendously. Magnetic Maharashtra is seen on government’s advertisements only.

Jayant Patil, Former Finance Minister, State President, NCP

The BJP government is fooling people by showing that everything is going smooth in the state but in reality there is a depressing situation at all levels. BJP has put the state in extreme debt where the government has to borrow money even for the day-to-day expenditure.

Sundhir Mungantiwar, Finance Minister

The state government is taking loans at a lower interest rate from China and Japan. In 2005, the expenditure on government employees was Rs. 19,000 crore which has now rose to Rs. 65,000 crore in 2015 and then Rs. 72,000 crore in 2018. Despite the debt, there will be no shortage of funding for development works and we are going to be in power for the next 5 years too so the Congress and the NCP need not be worried.

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