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Maharashtra huge debt may derail Devendra Fadnavis’s development plans

While the Devendra Fadnavis-led state government has made ambitious promises like kick-starting stalled infrastructure projects for Mumbai and abolishing toll charges, the massive pressure on the state exchequer may put a wrench in such ambitious plans. The state has an around Rs 2.85 lakh crore CMdebt burden which is expected to balloon to about Rs 3 lakh crore by end of the current fiscal.

On the revenue side, the decline in motor spirit prices may affect collections of value added tax (VAT), with the state just managing to meet the Rs 69,000 crore target. The various aid packages for farmers affected by natural calamities have increased the outgo.

In this situation, senior officials admit that some tightening of purse strings may be necessary.


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