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Rediff.com  » Business » Maharashtra's fiscal position improving: Shinde

Maharashtra's fiscal position improving: Shinde

By Parikshit Joshi in Mumbai
October 17, 2003 14:23 IST
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Expressing confidence that Maharashtra's precarious fiscal position had started looking up, Chief Minister Sushilkumar Shinde on Friday accused the BJP-led Centre of not extending financial assistance to the state.

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"We have not taken an overdraft since April and have repaid Rs 2,000 crore (Rs 20 billion) of the total Rs 93,000 crore (Rs 930 billion) debt," Shinde told PTI in an interview, as his government completes four years in office on Saturday.

Claiming that Maharashtra had sought Rs 10,000 crore (Rs 100 billion) financial assistance from the Union government to restructure its earlier loans taken at a higher rate of interest, Shinde said, "However, we are not getting support from the Centre unlike other states of Andhra Pradesh, Gujarat and Orissa."

Bringing back on rail the state's fragile economy was one of his government's prime responsibility, the chief minister said, adding, "Strict fiscal prudence and no counter-guarantees for co-operative institutions and curbing unwarranted expenditure have enabled to revive the state's economic condition."

He was critical of the Centre not responding to Maharashtra on the scarcity situation prevailing in parts of the state, and said, "This year the state has sought Rs 1,373 crore (Rs 13.73 billion) from the Union government but there is no communication from them as yet."

Only an officer of the level of joint secretary came to review the scarcity situation, the chief minister added.

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Parikshit Joshi in Mumbai
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