JOIN USThe debt of Maharashtra has crossed a whopping Rs 3,00,000 crore. However, the government says that it was well within the limit set by the 13th Finance Commission.
This was revealed in the Economic Survey of Maharashtra 2014-15, which was tabled in both the Houses of the legislature on Tuesday on the eve of tabling of the State Budget for the year 2015-16.
“The debt stock of the state which was Rs 1,81,447 crore at the end of 2009-10, is increasing annually with average rate of 10.6 per cent. It is expected to reach to Rs 3,00,477 crore in the year 2014-15, which is 17.8 per cent of GSDP, well within the limit of 24.3 per cent set by the 13th Finance Commission,” the survey said.
It points out that while the debt stock is Rs 3,00,477 crore, the interest payments are around 23,805 crore.