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MAHARSHTRA OVER BURDEN WITH LOANS – LOAN FIGURE REACHES A STAGERRING RS ONE LAKHS 35000 CRORE

Vidahan-Bhavan-2According to the initial budget presented by Maharashtra State, there is a loan of Rs one lakh thirty-five thousand looming over the state. Furthermore, in lieu of the interest charged, the state would have to give away 30% of total revenue earned. While the Maharashtra government is all talks about the state’s financial development, the truth of the matter is that Maharashtra is plummeting in huge debts. According to the initial budget report submitted by the state, the latter has a debt of Rs one lakh 35000 and while repaying the loan, it has to pay 30% of revenue earned as interest charges which total ups to a whopping Rs 12500 crore. But seems like the Finance Minister of the state, Jayant Patil is unperturbed by this and is reveling in the glory of financial development. Although the state government does not seem concerned with the debts looming on it but the huge amount of revenue that gets chucked out of the state in the form of interest, clearly would mar the future development of the state. Probably this is one of the reason why the Maharashtra government has to rely heavily on the Centre for its development. With cameraperson Abhay Prasad, Rajeev Mishra for NMTV News.

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