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Maharashtra

Maharashtra finances not robust, but salvageable with ‘discipline’

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As the Maha Vikas Aghadi (MVA) government readies for its third annual Budget (2022-2023) in early March, the focus is again on the state of the state’s finances.

The state has been grappling – ranking among the worst-hit – with the ongoing Coronavirus pandemic and the series of lockdowns that have played havoc with the economy, revenues and expenditure, and diversion of most resources to the health sector for the masses reeling under the impact of Covid-19.

Till the previous fiscal (2020-2021), the state had notched up a whopping debt of Rs 520,717 crore, mostly comprising unpaid loans and other liabilities.

However, the fiscal deficit percentage vis-a-vis GSDP is 2.1 per cent and the debt stock to GSDP is 19.6 per cent – well within the prescribed limits of 25 per cent, as per the Fiscal Policy Strategy Statement of last year, according to the official data.

“Though appearing huge, the debt figures are an accumulation of the past several years owing to various factors. The average annual addition is in the range of Rs 65,000 cr,” said Dr Ratnakar Mahajan, well-known economic expert and former Executive Chairman, Maharashtra State Planning Board.

Unlike many other states, there are no money-guzzling ‘populist schemes’ operating in Maharashtra – barring one important welfare measure started in Jan/2020 – the affordable meal of ‘Shiv Bhojan Thali’ – which was extended and heavily subsidised after the pandemic lockdowns were imposed in March 2020.

A pet venture of Chief Minister Uddhav Thackeray, the ‘Shiv Bhojan Thali’ – on which the state government has spent less than Rs 500 crore in the past 24 months – proved to be a life-saver for the urban-rural poor and the lakhs of migrants on the move in the early days of the lockdown series.

However, officials say the debt has to be serviced without fail every year – which is the expenditure part of the annual budget – but there is scope for being prudent, said an official of the state Finance Ministry, headed by Deputy Chief Minister Ajit Pawar.

The official – requesting anonymity – explained how the two years of the severe pandemic has hit all sectors of the economy, compounded by the economic slowdown, job losses which are now gradually being rolled back, the farm loans waivers, handling a series of natural calamities, shortfall in all types of tax revenues and also the massive amount of GST dues pending from the Centre.

Dr Mahajan said one of the factors responsible for growing fiscal burden in the past was, finances were raised at higher interest rates for shorter periods, like availing loans at 11 per cent for 3 years.

Some governments managed to overcome this by restructuring the old loans at lower rates of interest for longer periods – say, at 8 or 9 per cent for 5 years – which lessened the burden and spread it over the years less painfully.

Besides, whenever any government takes up new or mega-projects, it becomes the responsibility of the next regime to take it forward with adequate budgetary provisions.

Officials said some like the Metrorail may be top priority to reduce traffic congestion but others like the Bullet Train could wait for a while to prevent diverting scarce resources from other critical sectors, especially during the pandemic period.

Nevertheless, Dr Mahajan feels that with ‘safer and cautious decisions” it is very much possible to bring the state’s finances “well on the track” in just two years.

“This was done in the past during the tenure of the former Chief Minister Sushilkumar Shinde… with certain decisions that helped revive the financial situation and also reduced the state’s debt burden significantly,” he said.

As for the next year’s State Budget (2022-2023), all eyes are on (DCM & FM) Ajit Pawar to see how he juggles with the stretched finances and scarce resources to keep the state afloat amid optimistic signs that it is veering out of the scalding Covid-19 cauldron.

Maharashtra

Byculla Redevelopment Site Accident Claims Two Lives

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Mumbai: A tragic incident occurred on saturday afternoon at the proposed redevelopment site of Habib Mansion in Byculla (West). During piling work, the ground suddenly caved in, resulting in the death of two labourers on the spot.

Two to three other workers suffered serious injuries and were rushed to a nearby hospital. The accident took place at the Sundar Galli stretch between Haines Road and Tank Pakhadi Road, where redevelopment work is being undertaken by Ibrahim Jusab Sopariwala & Others. The project is linked to architects A2 Associates and Rajpurkar Associates, with ZZ Consultants reported as the structural advisors.

Local residents claimed that adequate safety measures were missing at the worksite, raising concerns about negligence. Police and BMC officials have cordoned off the area and launched an investigation.

Authorities said a detailed probe will determine whether safety protocols were violated during the redevelopment work.

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Maharashtra

NCB seizes city drugs, sets them on fire

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Mumbai: The Mumbai Zonal Unit of the Mumbai Narcotics Control Bureau (NCB) has disposed of about 1835 kg of Mephedrone along with 341 kg of other substances which were seized from various places in Maharashtra and Delhi. 16 persons were arrested in this case. A thorough investigation into the massive drug seizure led to the arrest of several persons including foreigners from various places, resulting in the elimination of close associates of the drug peddlers with international links.

As per the guidelines prescribed by the Hon’ble Supreme Court, a high-level Drug Disposal Committee was constituted comprising Deputy Director General (SWR) of NCB, Additional Director, NCB Mumbai Zonal Unit and Additional Commissioner of Pune Police. The case was reviewed and it was selected to dispose of the drug hoard. Accordingly, all legal conditions were complied with after which the seized drugs along with other chemicals were finally destroyed by incineration in the presence of HLDCC on 14th November 2025 at Maple, Ranjangaon, Pune, Maharashtra.

This significant seizure of drugs followed by disposal of the sub-judices, indicates the continuous efforts of NCB in dismantling organised drug syndicates and targeting drug offenders who pollute the drug ecosystem. The Bureau is steadfast in its mission to protect public health and uphold the vision of “Nisha Mukt Bharat” by 2047.

NCB is firmly committed to ensuring a drug-free society under the guidance of which it has curbed drug trafficking, broken financial nexus and curbed inter-state and international drug syndicates.
Citizens are urged to play their role by reporting any information related to drugs through the MANS – National Narcotics Helpline (Toll Free Number: 1933). The identity of the informants is kept strictly confidential.

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Maharashtra

Three men accused of robbing a youth have been arrested The main accused was apprehended in Titwala.

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Mumbai: A young man returning home on a motorcycle in the Asalpha area of ​​Ghatkopar was attacked and forcibly robbed by three men who brandished a chopper. A case was registered at the Ghatkopar police station under sections 309(4), 3(5) of the Indian Penal Code, sections 4, 25 of the Indian Penal Code, and sections 37(1) and 135 of the Indian Penal Code.

The complainant, Suraj Mahadev Dethe (24), and his friend, Yash Kamble, were passing near the Home Guard Training Center at approximately 1:30 a.m. on November 12th when three unidentified individuals in a three-wheeled tempo stopped them. The accused, using the chopper as a pointer, assaulted them, abused them, and stole their Honda Dio scooter and mobile phone.

As soon as the case was registered, the Assistant Commissioner of Police and Senior Police Inspector of the Ghatkopar Division inspected the scene. Based on technical and traditional investigations, the accused identified Hussain Aslam Memon, alias Genda. Upon receiving information that he was hiding in the Titwala area, the police apprehended him. During interrogation, he revealed the names of his accomplices – Munna Ramvilas Sharma and Dilshaduddin Sitabuddin Shaikh – who were subsequently arrested.

On November 13, the three accused were produced in court, where they were remanded to police custody until November 17. The investigation also revealed that Genda is a notorious criminal with more than 13 cases registered against him in various police stations.

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