Mumbai, Mar 11 (PTI) Financial mismanagement by the Mahayuti government and the state's escalating debt burden resulted in every citizen now carrying a debt of Rs 82,000, Leader of Opposition in legislative council Ambadas Danve said on Tuesday.
Danve claimed Maharashtra is reeling under a huge debt burden of Rs 9,32,000 crore.
Opposition leaders slammed the government over Maharashtra's financial situation in the upper house of the state legislature, a day after finance minister Ajit Pawar presented Budget 2025-26.
During the debate, Danve said Maharashtra pays Rs 65,000 crore annually in interest payments alone, leaving the state's citizens grappling with a debt of Rs 82,000 each, raising concerns about the government's management of public finances.
He said the state government's move to slash capital expenditure (capex) by 2 per cent would affect long-term growth.
"In the current financial year (2024-25), 13% of the budget was allocated to capital expenditure. However, in the 2025-26 Budget, this has been reduced to 11 per cent, which shows the government's approach towards long-term projects," the Shiv Sena (UBT) leader added.
It also means that the state would not spend on long-term projects that are beneficial for the people, but it will continue its unproductive expenditure, he said.
Danve said that only 44 paise out of every rupee spent by the government goes toward public welfare, with the remaining funds primarily used to service debt obligations.
Maharashtra's budget for the current fiscal year stands at Rs 7 lakh crore, with a revenue deficit of Rs 45,892 crore and a fiscal deficit of Rs 1.36 lakh crore, which doubled from the last year, he said, adding that the industrial and service sectors declined.
Danve further said the Union government's decision to cut Maharashtra's GST rebate has further strained the state's revenue collection.
"The Union government is allocating more funds to Uttar Pradesh and Bihar, depriving Maharashtra of its expected share despite its contribution towards GST collections," he said.
The Central subsidy was slashed by 10 per cent. I am not asking too much funds from the union government but at least try to get Rs 1 more than what the state received in the previous fiscal, he said.
He said Mumbai's GDP is Rs 4 lakh (crore) while Washim district in Vidarbha reported Rs 1.08 lakh (crore) GDP.
"Districts like Washim, Gadchiroli, Yavatmal and Amravati have around Rs 1 lakh (crore) GDP each. Hingoli and Nandurbar districts are among the lowest on the list. Unfortunately, the state's growth is limited to Mumbai, Thane and Pune," he said.
Danve further said Maharashtra has fallen to the fifth place in GDP growth rankings, while states like Telangana and Karnataka have reported higher growth.
Maharashtra government had tabled supplementary demands of Rs 6,486 crore outside the budget expenditure on the first day of the budget session of the state assembly on March 3.
