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MAHA AMONG TOP 3 STATES WITH HIGH LIABILITIES

Once a well administered and financially sound state, Maharashtra has now achieved the dubious distinction of being among the top three states with the highest liabilities. The Mayawati-led Uttar Pradesh, with total liabilities of Rs 2.21 lakh crore, is followed by Maharashtra with a debt burden of Rs 2.07 lakh crore and Andhra Pradesh with Rs 1.27 lakh crore at the end of March 2010. Even on outstanding guarantees, Maharashtra has the highest liability compared to Andhra Pradesh and UP. Maharashtra’s outstanding guarantees increased from Rs 7,351 crore in 1991 to Rs 36,075 crore in 2008. Successive finance ministers of Maharashtra have been promising to initiate stringent measures to tackle the ever increasing debt burden, but no concrete steps have been taken so far. Apparently, Maharashtra was unable to tackle its ever increasing burden on wages and salaries. The expenditure for that increased from Rs 3,848 crore in 1990 to Rs 42,000 crore in 2010. Bureau report – NMTV News.

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