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Maharashtra

Maharashtra finances not robust, but salvageable with ‘discipline’

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5 years ago

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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.

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Crime

Fake social media account, Chat GPT used in Ketan Agarwal murder

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10 hours ago

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September 20, 2026

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Pune, Sep 20: A fake account on social media platform Instagram, along with ChatGPT and murder films, was used by Siya Goyal and her co-accused in the alleged murder of her fiance Ketan Agarwal, reveals the charge sheet filed by the police in the sensational case.

The 5,053-page charge sheet, filed on Saturday, detailed the alleged conspiracy behind the death of the 26-year-old businessman at Lohagad Fort in Pune in June, NDTV reported.

Agarwal was allegedly pushed off the fort on June 18 by his fiancee Siya Goyal, who was assisted by her purported lover Chetan Chaudhary, and another accused, identified as Ritesh Hange. All three have been arrested by the police.

According to the charge sheet, the accused had initially discussed seriously injuring Agarwal and even explored the possibility of hiring someone from outside Maharashtra to carry out the attack.

Police claimed the plan was later dropped because they feared the hired assailant could expose the conspiracy or create problems for them. Investigators have mentioned that a person contacted during this stage has since become a witness, the media report said.

As per the charge sheet, the accused subsequently decided to kill Agarwal themselves and watched murder films and used ChatGPT for the purpose. They also listened to podcasts on how to avoid detection by police as part of their preparations.

Goyal and her co-accused also researched last year’s Meghalaya honeymoon murder case where Indore resident Raja Raghuvanshi was allegedly killed by his wife, Sonam, during the couple’s honeymoon in the state’s East Khasi Hills district.

Moreover, investigators stated that a fake Instagram account named ‘Mahi’ was created using the photograph of a woman known to the accused in order to “lure” Agarwal to the fort.

Subsequently, messages from the account encouraged the victim to visit the spot on June 18 for a surprise birthday plan for Goyal.

According to the chargesheet, the fake account was part of a plan devised by Ritesh Hange to bring Agarwal to the fort. The account was deleted after the incident.

Further, the charge sheet also revealed that the accused conducted a recce of locations around Lonavala before selecting Lohagad Fort.

According to investigators, Goyal and Chaudhary visited Tiger Point and other locations in search of an isolated spot.

Police said that Lohagad was eventually selected because of a death at the fort in March last year. The accused thought they could make Agarwal’s death appear like an accidental fall at the spot.

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Crime

Stall operator booked after two die of electrocution in Mumbai Lalbaug Ganesh pandal

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11 hours ago

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September 20, 2026

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Mumbai, Sep 20: An FIR has been filed following a tragic electrocution incident near a Ganesh festival pandal in Mumbai Lalbaug area early on Sunday, which resulted in the deaths of two people, including an 8-year-old girl.

Two people, including an eight-year-old girl, died and four others were seriously injured after receiving electric shocks from a loose wire at a Pepsi-Cola stall near Aastha Hospital on Dattaram Lad Marg in Kalachowki, Mumbai, early Sunday.

Police have registered an FIR against nearby stall operator Kamal Shetty under Sections 106(1) and 125(b) of the Bharatiya Nyaya Sanhita, alleging negligence, and have begun an investigation.

According to information from the fire brigade, the incident occurred at around 2 a.m. on Sunday when devotees were present near the pandal.

Two boys and three girls, aged between 8 and 20, reportedly came into contact with the electrical current and suffered burn injuries.

Following the incident, all five victims were rushed to Masina Hospital in Byculla for treatment. Doctors declared the 8-year-old girl Raghni Ghanshyam Yadav dead upon arrival.

Meanwhile, a second victim, a woman who was admitted to Global Hospital in Parel, later succumbed to her injuries. Her identity was yet to be ascertained.

Kiran Akbar Naik, 19, Tanvi Narsh Hande, 19, Sahil Sandip Tare, 19, and Ruhi Singh, 12, were undergoing treatment for injuries sustained in the incident.

Among the injured, one girl was reportedly in critical condition and was shifted to Global Hospital in Parel for further treatment. The remaining three injured victims are undergoing treatment at Masina Hospital and have been admitted to the intensive care unit (ICU), where their condition remains serious.

According to the FIR filed at Kalachowki Police Station, the wire allegedly came into contact with the girl, Raghni, and others nearby.

The girl was declared dead at Masina Hospital, while another woman, identified as 33-year-old Sujata Thorati, died at Global Hospital. Four injured persons were admitted for treatment.

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Maharashtra

17-year-old among three killed in Mumbai high-end car accident (Lead)

Published

12 hours ago

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September 20, 2026

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Mumbai, Sep 20: A 17-year-old was among the three people who were killed in a serious accident involving a high-end car on the Mumbai Coastal Road early on Sunday, officials said.

Another person is critically injured and is currently receiving treatment.

According to information received from the Coastal Road Control Room, the accident occurred at around 5.20 a.m. near Lotus Jetty, opposite Lala College.

The car was travelling from Marine Drive towards Haji Ali when the driver allegedly lost control of the vehicle due to overspeeding.

The speeding vehicle crashed onto the Coastal Road and hit a boundary wall. It fell off the bridge into an area where construction work was underway.

The severity of the accident was evident from the extent of the damage to the car.

The vehicle tore off through the signboard hanging from the bridge. The roof of the car was pushed inwards, the windshield was shattered, and the bonnet was completely destroyed.

Following the accident, all four occupants of the car were rushed to Nair Hospital, where emergency medical teams assessed their condition.

According to an update issued by the Chief Medical Officer (CMO) of Nair Hospital at around 8.40 a.m., three of the occupants were declared brought dead by doctors.

Two of the deceased have been identified as 21-year-old Shanay Gajjal and 17-year-old Dhirya Seth. The identity of the third deceased is yet to be ascertained.

The injured has been identified as 23-year-old Aditya Oswal.

Speaking about the incident to media, Senior Police Inspector Meena Jagtap said: “At around 5:20 a.m., a black BMW was travelling from Marine Drive towards Haji Ali in the northbound direction when it fell from the Coastal Road. There were four people in the car. Three people died, while Aditya is currently at Nair Hospital.”

She said that it is yet to be ascertained whether the occupants of the car were in an intoxicated state when the accident occurred.

Police are investigating the case.

Further details are awaited.

On September 3, several people were booked after Mumbai Police took cognisance of a viral video showing luxury and high-performance cars speeding and racing dangerously inside the Marine Drive-Southbound Coastal Road tunnel.

Meanwhile, earlier this week, three people were critically injured after a speeding off-road SUV (Sport Utility Vehicle) hit them near PKC Hospital in Vashi, Navi Mumbai.

The driver fled the spot after the crash instead of helping the injured.

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