Debt as GSDP percentage has come down: Mungantiwar

The Maharashtra government has pared its debt burden from 28.2 per cent of GSDP to 15 per cent despite the implementation of 7th pay commission and farm loan waiver, Finance Minister Sudhir Mungantiwar said Tuesday.

He was replying to a debate on the state budget in the Legislative Assembly.

While presenting the budget on June 18, Mungantiwar had said that as of March-end, the total debt of the state was Rs 4,14,411 crore.

"We have managed to bring down debt burden from 28.2 per cent to 15 per cent (of gross state domestic product) despite the pay out due to the 7th pay commission and farm loan waiver," he said Tuesday.

The government's stated objective of taking the state's economy to USD onetrillion was difficult but achievable, he said.

Defending the Jalyukt Shivar water conservation scheme, he said despite deficient rainfall, food grain production increased by 24 lakh metric tonnes.

In 2014, food grain production was 91 lakh metric tonnes, while in 2019, it was 115.70 lakh metric tonnes, Mungantiwar said.

The foreign direct investment (FDI) in the state during 2009-2013 was Rs 1.79 lakh crore, while it grew to Rs 3.51 lakh crore during 2014-19 (after the BJP-led government came to power), the finance minister said.

The budget for sports complexes at tehsil level would be increased from Rs one crore to Rs five crore, Mungantiwar informed the House.

He also announced that the state government will celebrate the birth centenary of former chief minister and Congress leader late Shankarrao Chavan.

He also informed that Kala Bhavan at the Kalina campus of Mumbai University would be named after Shiv Sena founder late Bal Thackeray.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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