Mumbai, Jul 9 (PTI) Rejecting criticism over financial prudence for presenting supplementary demands of Rs 57,509 crore just three months after presenting the budget, Maharashtra Deputy CM Ajit Pawar on Wednesday said the state’s economic position is robust and fiscal parameters are fine.
He said the additional funds would primarily be spent on the Centrally-sponsored development schemes, infrastructure projects, and statutory grants, which will contribute to enhancing the state’s productive assets.
The Maharashtra government tabled supplementary demands of Rs 57,509.71 crore in the state legislative assembly on June 30 to allocate funds for various schemes and projects.
Replying to the debate on supplementary demands in the legislative assembly, the finance minister asserted that the state’s financial management remains within the framework of fiscal discipline, and that the debt burden and treasury obligations are well within limits.
“Maharashtra’s economic position is robust. We are committed to responsible financial governance while generating new revenue streams and making effective use of available resources,” Pawar said.
He said though supplementary demands totalling Rs 57,509 crore were tabled during the current monsoon session, the net financial burden stands at Rs 40,645 crore after adjusting for receipts.
Of this, Rs 19,184 crore will go towards committed expenditure, Rs 34,661 crore towards various schemes, while Rs 3,665 crore will be spent on Centrally sponsored programmes.
“The allocations include Rs 11,043 crore as per the 15th Finance Commission’s recommendations, Rs 3,228 crore as stamp duty surcharge refunds, Rs 2,241 crore as the state’s equity in underground transit and metro projects, and Rs 2,183 crore as margin money loans to cooperative sugar mills via NCDC. Another Rs 2,150 crore under the Centre’s 50-year interest-free capital assistance,” he stated.
Allocations of Rs 2,097 crore via NABARD and Rs 1,000 crore are meant for incomplete irrigation projects and Simhastha Kumbh Mela planning.
Highlighting fiscal prudence, Pawar noted that the state’s outstanding debt is projected at 18.87 per cent of Gross State Domestic Product (GSDP) for 2025-26 which is well below the 25 per cent cap recommended by the Finance Commission.
The fiscal deficit is estimated at 2.76 per cent of GSDP, comfortably within the three per cent limit, he said, adding that Maharashtra is one of only three states, along with Gujarat and Odisha, with debt levels below 20 per cent of GSDP.
Pawar reiterated that despite the scale of development needs, the government is following a rule-based financial policy, focused on sustainable growth. The government is prioritising capital investment, resource mobilisation, and fiscal transparency, he added. PTI MR NSK
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