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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

Mumbai Weather Update: City Sees Clear Skies After Heavy Overnight Downpour, Yellow Alert Issued; Overall AQI In Moderate Range At 63

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Mumbai: After heavy rains lashed the city on Friday, bringing brief waterlogging and traffic disruptions, Mumbai woke up to sunny skies on Saturday morning. However, the India Meteorological Department (IMD) cautioned that the respite may be short-lived, as the city remains under a Yellow Alert with a forecast of partly cloudy skies and a possibility of moderate rain or thunderstorms through the day.

According to the IMD, temperatures are expected to hover around 34°C during the day and dip to about 25°C at night. The brief spell of unseasonal rain not only cooled the weather but also brought a remarkable improvement in the city’s air quality, which had deteriorated sharply post-Diwali due to increased pollution and stagnant winds.

Overall AQI In Moderate Category

Real-time data from AQI.in showed that Mumbai’s overall Air Quality Index (AQI) stood at 63 on Saturday morning, placing it in the moderate category, a notable recovery from the unhealthy levels recorded earlier in the week.

Among the city’s monitoring stations, Wadala Truck Terminal reported the highest pollution level with an AQI of 190, followed by BKC (75), Kurla (73), Worli (73) and Chembur (72). While mild traces of smog lingered in some of these areas during the early morning, visibility and air freshness improved significantly across most parts of Mumbai.

On the other hand, several localities recorded remarkably clean air. Thakur Village in Kandivali reported the city’s best air quality with an AQI of 25, while Parel-Bhoiwada (32), Malad West (38), Borivali East (40), and Kandivali East (43) also registered good air quality, offering much-needed relief to residents.

As per AQI.in’s classification, readings between 0–50 indicate “Good” air, 51–100 “Moderate”, 101–150 “Poor”, 151–200 “Unhealthy”, and above 200 “Severe” to “Hazardous.”

Friday’s rain marked the third unseasonal spell after the official monsoon withdrawal and was accompanied by lightning, thunder and gusty winds. The IMD had issued a Nowcast warning late Friday evening, alerting of potential thunderstorms and moderate rainfall over Mumbai and adjoining districts. Meanwhile, most parts of Maharashtra, excluding the Vidarbha region, continue to remain under a Yellow Alert for the next few days.

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Maharashtra

Brave officer risked his life to save injured girl

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Mumbai: Mumbai Police Traffic Officer has shown bravery in saving a young girl from the clutches of a cruel lover, after which this officer is being praised. He took the injured and bleeding girl to the hospital and risked his life to free her from the armed youth, after which the youth committed suicide.
‎Today at 10:17 am, a call was received from the MTP helpline of the Byculla Traffic Department Group that two-wheelers and four-wheelers were parked on the footpath in front of Meoresh Building, Dataram Lad Marg, Kalachowki, causing inconvenience to the passers-by. In response to the said call, Rider Police Constable Karan Suryavanshi of the Byculla Traffic Department reached the spot. When he was taking action at the said place, some people present there told the officer that a boy was attacking a girl with a knife in the cabin of Astha Nursing Home. Seeing the seriousness of the incident, Kiran Suryavanshi immediately went to the spot and tried to free the victim girl from the clutches of the accused boy and took her out of the nursing home. Since she was in an injured condition, he showed haste and without a moment’s delay, put the girl in a taxi and brought her to Dr. Babasaheb Ambedkar Hospital, Ranibag. The girl was given first aid there. Officers and personnel from Kalachowki took the injured woman to JJ Hospital for further treatment.

Besides, in this incident, the attacker also stabbed himself and was taken to KEM Hospital with the help of Kalachowki Police Station.

The Deputy Commissioner of Police, Zone 4, Assistant Commissioner of Police as well as Senior Police Inspector of Kalachowki Police Station visited Dr. Babasaheb Ambedkar Railway Hospital.

The girl is undergoing treatment at Sir JJ Hospital. Police officers from Kalachowki police station are conducting further investigations. The officer is being praised for protecting the girl without caring for his own life and saving her from the clutches of her heartbroken lover.

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Maharashtra

Samajwadi Party is not part of Mumbai Municipal Corporation Vikas Aghadi: Abu Asim Azmi

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Mumbai: The Samajwadi Party will not enter into an electoral alliance with the Maha Vikas Aghadi in the Municipal Corporation (BMC) elections, not will it be part of this alliance. Those who objected to the release of innocent Muslims imprisoned for 19 years but remained silent on the release of the accused in the Malegaon blasts. Those who express pride in the demolition of the Babri Masjid, take the names of Lord Ram and Lord Vishwanath, but call the holy water of the Sangam smelly and make Uttar Bharatiyas and North Indians a target for violence. This is a province where the Pawars go to do their country’s panddan. Those belonging to such provinces insult and subject North Indians and Biharis to violence.

If such people are part of the Maha Vikas Aghadi, the Samajwadi Party will never be part of it.

The Samajwadi Party does politics of justice, secularism, constitutional values ​​and Ganga-Jamuni culture. Therefore, we cannot be part of any alliance that includes forces that spread hatred and divide the country. This kind of explanation has been given by Mumbai Maharashtra Samajwadi Party leader and MLA Abu Asim Azmi. Elections are approaching, in such a situation, Mahayoti and Maha Vikas Aghadi are very serious about their allied parties. In such a situation, the Samajwadi Party has clearly refused to enter into an understanding with Maha Vikas Aghadi and has called it biased. Now there is curiosity about the expected entry and entry of MNS in Maha Vikas. In such a situation, the Samajwadi Party has denied it and said that it is unable to participate in the elections with those who incite violence on the basis of regionalism.

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