Thursday, June 4, 2009

Maharashtra's fiscal deficit to reach 3.3 per cent in 2009-10

Maharashtra's fiscal deficit will soar to 3.3 per cent of the Gross State Domestic Product (GSDP) in 2009-10, up by a per cent from 2008-09.

The debt stock of the government at Rs 1,85,801 crore would be 23.3 per cent of the GSDP, marginally up by 0.2 per cent, according to the Budget estimates presented in the State Assembly by Finance Minister Dilip Walse-Patil today.

The state would have to pay an interest of Rs 14,351 crore during the year as against Rs 12,305.55 crore in the previous fiscal.

Out of every rupee it earns, the government receives 41.88 paise from the state's own tax revenue and 11.41 paise from non-tax revenue. The share of Central taxes would be 7.04 paise and that of grant in aid from the Centre 12.82 paise. The internal debt of the state government would be 21.01 paise, while loans and advances from the Centre would be 1.01 paise.

Out of every rupee it spends, the state would provide 24.65 paise to social services, 24.28 paise to economic services, 12.37 paise on interest payments and debt services and only 15.33 paise on capital expenditure.

Repayment of public debt would constitute 5.52 paise and the grant in aid to local bodies would be 0.83 paise. The general services would take 16.23 paise, while loans and advances from the state would constitute 0.81 paise.

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