It is time to have a balancing act in Maharashtra budget outlay. With falling revenues and reduction in receipts showing plunge and the expected loan waiver for farmers and the Seventh Pay Commission all add to the woes of the Government. The suggestive measures to improve this condition is that government has to implement the anti-corruption policies stringently like citizen’s charter act, Right to information, Public Service bill, e-governance, e-procurement etc. These measures and some others can only reinvigorate and boost Mumbai’s budget outlay. A quick glance at state’s finances show shortage mainly because the state fail to collect from the sale of FSI and this failure cause the ex-chequer very much. The revised revenue deficit may pinch the people to pay more tax. To create, upgrade capital assets we need to borrow and that may further dent budget hopes for revival.
(The views expressed by the author in the article are his/her own.)