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HomeTop NewsFadnavis Govt: Debt burden increases by Rs 1.8 lakh crore

Fadnavis Govt: Debt burden increases by Rs 1.8 lakh crore

Devendra Fadnavis, Maharashtra Government Loan, Loan, Debts, Maha Loan, Loans on govt, Fadnavis Government,Raising the issue of development, Narendra Modi government at centre and Devendra Fadnavis government in Maharashtra came to power in 2014. This issue attracted common man especially youths and they were voted to power. For first time, the BJP got its chief minister in Maharashtra and Shiv Sena became its junior partner. Fadnavis government completed its term successfully and now it is seeking the second term in Maharashtra assembly elections which is due on October 21. CM Fadnavis claims a lot of development works during his 5-year tenure. But at the same time, Maharashtra’s debt increased by Rs 1.8 lakh crore between 2014 and 2019. Opposition parties allege that Fadnavis government has done nothing remarkable in the name of development.

When our correspondent Nikhil Sagare spoke to NCP Mumbai president and spokesperson Nawab Malik he said, “The loan burden of the government has doubled. All their expenditure is incurred on paying salaries and development is not visible. This government has looted Maharashtra.”

It is worth mentioning that when Narendra Modi became CM of Gujarat in 2001, the state had total debt of Rs 42,781 crore. In 2014, he resigned as CM of the state. From 2001 to 2014, debt burden of Gujarat soared to Rs 1, 88, 518 crore. Currently, it is Rs 2, 97, 996 crore. All BJP ruled states, including Maharashtra, took too much loans in the name of development works. The 15th Finance Commission and Reserve Bank of India (RBI) have expressed concern over rising debts of states.

Congress spokesperson Atul Londhe said, “The government has reduced educational budget by 2.2 per cent. They have only waived 50 per cent of agricultural loans.  The loan availed by the government has increased from 2,98,000 to 4.71,000 crores. The government is not willing to speak about Jalyukt Shivar scheme. Despite charging 39.1 per cent on petrol revenue shortfall is being witnessed. Due to wrong policies revenues have decreased and non productive expenditure has increased.”

Devendra Fadnavis took office in October 2014. Then state’s total debt was Rs 3.09 lakh crore which rose to Rs 4.71 lakh crore in June 2019. As per RBI’s recent study ‘State Finances’, it will further rise to Rs 5.02 by March 2020. Fadnavis government has claimed that a total investment of Rs 375,045 crores was made in the state in last 5 years. The government has spent Rs 6,260 crores to avail fundamental facilities in the urban areas. During various plantation drives, the Forest Department achieved a new milestone by planting around 50 crore trees. 765,528 houses have been completed under the Pradhan Mantri Aawas Scheme. 113200 Divyang citizens received the benefit of certificates.

BJP spokesperson Madhav Bhandari said, “The increase in loan burden had started during the Congress-NCP reign. Nobody knows where they have spent the money. Money spent by our government is used for developmental work. Work on Mumbai, Nagpur and Pune metro is going on. Construction of highway is under progress. Money is spent by our government for infrastructure work.”

Fadnavis government started the construction of 701 km long Nagpur-Mumbai Samruddhi Mahamarg which is one of major achievements of state government. Digitisation of the 7/12 extract has been a major milestone in the state. Maharashtra bagged the 3rd rank in health index throughout the country. The ‘Atal Maha Aarogya‘ camp has proven beneficial to 24 Lakh patients of Maharashtra. All these achievements are displayed on the website of Chief Minister’s Office (CMO).

BJP MP Gopal Shetty said, “Maharashtra Finance Minister Sudhir Mungantiwar can give the right explanation for increase in loan burden of the state. Loans are availed for undertaking developmental work. Interest rates have increased on loans taken during Congress government’s reign .”

Between 2014 and 2019, BJP ruled states and their debts are as follows:-

(Source: RBI report)

State- 2014- 2019 (In Rs lakh crore)

  • Maharashtra- 3.09– 4.43
  • Assam- 0.31- 0.58
  • Bihar- 0.89- 1.68
  • Chhattisgarh- 0.26- 0.68
  • Goa- 0.13- 0.20
  • Gujarat- 1.89- 2.98
  • Haryana-0.80- 1.84
  • Himachal Pradesh-0.34- 0.54
  • Jharkhand- 0.38- 0.84
  • Madhya Pradesh-0.96- 2.0
  • Rajasthan-1.28-3.07
  • Uttar Pradesh-2.66- 5.63
  • Uttarakhand-0.30-0.58


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