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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: 70 to 80 guests of the wedding feast in Nahor fell ill with food poisoning, police continue investigation, FDA collects samples

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70 to 80 guests have been admitted to the hospital after they fell sick during a feast in Mumbai Mumbai Nahoor wedding ceremony In this case FDA has obtained the sample of the food and the police have also started investigation in this case Food report case Police will register a case in this case it has been confirmed by DCP Abhay Sinha Deshmukh here A wedding ceremony was held at Nalanda Buddha Vihar Hall in Nahore West on 1st November 2026 happened About 400 to 500 people attended the event. It is suspected that between 70 to 100 people who attended the last round of the meal suffered food poisoning. When symptoms appeared, they were admitted to hospitals for medical treatment.

Out of them, 22 persons have been admitted to Agarwal Hospital in Milind, 4 children have been admitted to Kamagar Hospital in Milind, and 5 persons have been admitted to a hospital in Vikhroli.
All the patients are currently in stable condition and are undergoing treatment. Concerned authorities are monitoring the situation and taking necessary action. Police will soon register an FIR in this matter.

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Maharashtra

A young man was safely pulled out of the sea by the diligence of the Mumbai police.

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In Mumbai, an alert Police Sub-Inspector (PSI) saved a man who was attempting suicide; the officer’s timely intervention proved instrumental in preserving a precious life. On November 2, the Mumbai Police rescued an individual who had attempted suicide by entering the sea. Shortly after midnight on November 2, the Mumbai Police Control Room received a report that a man had entered the sea in the Worli Koliwada area with the intention of taking his own life. Upon receiving the information, Police Constable Pawar (Beat Marshal 1) and the Sub-Inspector immediately arrived at the specified location in Worli Koliwada. On arrival, they observed a man in the sea. Realizing that the individual’s life was in danger, Constable Pawar and the Sub-Inspector entered the water and took action to bring him out. As a result of their efforts, the man was safely pulled from the sea. Subsequently, they identified the individual and gathered the necessary details regarding the incident. They also assessed his physical condition and ensured that he received immediate medical attention. Thanks to their timely arrival and prompt action, a potential loss of life was averted. This information was provided by Senior Police Inspector Balkrishna Ghadigaonkar of the Dadar Police Station, Mumbai.

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Maharashtra

‘Fight between Sharia and Constitution’: Maha Minister targets INDIA Bloc over Ramlila Maidan rally

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Maharashtra Minister Nitesh Rane on Monday alleged that the INDIA Bloc wanted to introduce Sharia law in the country and accused its leaders of opposing the Constitution drafted by Babasaheb Ambedkar.

Speaking to reporters, Rane said democracy and the constitutional framework must be protected, alleging that the opposition alliance wanted to dismantle the existing democratic system.

“Democracy must be protected, shouldn’t it? The people of the INDIA Bloc want to introduce Sharia law in our country. The INDIA alliance is opposed to Babasaheb Ambedkar and his Constitution, isn’t it? That is why they do not want the Election Commission or the Supreme Court. They want to dismantle the entire constitutional framework and democratic system so that they can introduce Sharia law in the country. This is what the INDIA Bloc leaders are doing,” he said.

“This is a fight between Sharia and the Constitution, and we are fighting to protect the latter. We stand with the Constitution. That is why, under the leadership of Devendra Fadnavis and Eknath Shinde, we are organising rallies,” he said.

Rane also criticised the INDIA Bloc’s rally at Ramlila Maidan in Delhi, claiming that it failed to attract a significant crowd.

“The fact that people did not turn up was clearly visible. There are several videos showing empty chairs, with hardly anyone visible even in the distance. If the hero of a film itself is a flop, the film is bound to flop too. That is why the show they tried to put on at Ramlila Maidan has completely flopped,” he said.

Reacting to the Leader of the Opposition in the Lok Sabha, Rahul Gandhi’s remarks on Shiv Tandav and Shiv Bharat during the rally, Rane said anyone could participate in such celebrations, reflecting the inclusive nature of Sanatan Hindu Dharma.

However, he questioned whether Hindus were equally welcome to participate in Eid and Muharram celebrations and said Gandhi should have asked the Muslim League leaders and clerics present on the stage about it.

Rane also reacted to Bollywood actress Dia Mirza’s social media post advising people to celebrate Diwali in an environment-friendly manner.

“The kind of tweet Dia Mirza has posted about Diwali, and the kind of advice she is giving, is something we never see her doing during Eid, Muharram or Bakrid. Whenever Holi or Diwali comes around, people are advised to celebrate in an environment-friendly manner. Try asking people to observe an environment-friendly Ramadan or celebrate an environment-friendly Bakrid. Then we will believe that they are giving the right advice to everyone equally,” he said.

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