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Revenue deficit biggest challenge before new government

Rs 4.7 lakh crore debt burden on Maharashtra

A new government has been formed under the leadership of Uddhav Thackeray in Maharashtra, but there are many big challenges before this new government. In which the biggest challenge is the revenue deficit. Actually, the state of the state is not good on the economic front. In the last month of June, in the Fadnavis government of Maharashtra, then Finance Minister Sudhir Mungtiwar presented the Interim Budget for 2019-20. It was told in this budget that the debt burden on Maharashtra is more than Rs 4.7 lakh crore. At the same time, the liabilities of the Maharashtra government were Rs 4.14 lakh crore in 2018-19, which is continuously increasing. Explain that the government had kept the total budget of Rs 3 lakh 34,933 crore. It was told in this budget that the revenue deficit of the Maharashtra government is expected to increase to Rs 20,292.94 crore. The revenue loss a year ago was Rs 14,960.04 crore. In this context, the revenue loss of Maharashtra can increase by more than 5 thousand crores i.e. 35.6 percent in just one year.

In which the biggest challenge is the revenue deficit.

Rs 4.7 lakh crore debt burden on Maharashtra
Rs 4.7 lakh crore debt burden on Maharashtra

While presenting the budget in June, the then Finance Minister Sudhir Mungtiwar said that the revenue expenditure of the government is likely to be Rs 3,34,933.06 crore and revenue receipts of Rs 3,14,640.12 crore in the current financial year. Talking about the fiscal deficit, it is estimated to be Rs 61,669.94 crore. A year ago, Maharashtra’s fiscal deficit was Rs 56,053.48 crore. In this context, there can be an increase of about 6 thousand crores. The Economic Survey of Maharashtra had projected a growth rate of 7.5 percent in the state’s growth rate. Let us know here that Maharashtra’s contribution to the total gross domestic product (GDP) of the country is 14.4 percent. If we talk about the total GDP of Maharashtra, then it is more than 26 lakh crores. The per capita income in Maharashtra is Rs 1 lakh 91 thousand 827. However, this time per capita income has increased in the state compared to a year ago. The per capita income in the year 2017-18 was Rs 1 lakh 76 thousand 1022, which increased to Rs 1,91,827 in 2018-19. In Maharashtra, the unemployment rate was 4.9 percent in 2017-18. Now, how will the new government deal with the challenge on the economic front, it will be known only in the coming time.

 

 

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