Maharashtra’s debt to reach ₹9.32 lakh crore by 2025-26; Every citizen owes ₹72,761
Mumbai: Maharashtra's debt burden is projected to rise to ₹9.32 lakh crore by the end of the 2025-26 fiscal year, translating to a per capita debt of ₹72,761 for the state's estimated 12.8 crore population. According to a report by NGO Samarthan, Maharashtra’s total debt increased by ₹1.02 lakh crore in the past year and is expected to grow by another ₹92,967 crore in the coming fiscal year.
The state’s current debt stands at ₹7.82 lakh crore, with revenue income estimated at ₹5.36 lakh crore for 2024-25 and projected to reach ₹5.61 lakh crore in 2025-26. Financial experts warn that the mounting debt could significantly affect future development projects.
Rupesh Keer, a member of Samarthan, highlighted that Maharashtra’s debt has more than doubled in eight years, rising from ₹4.02 lakh crore in 2017-18 to ₹8.39 lakh crore in 2024-25. He pointed out that each citizen of the state is effectively carrying a financial burden of ₹72,761.
A key concern is the rising interest payments, with Maharashtra set to spend ₹64,659 crore on interest this year, up from ₹54,687 crore last year. Interest payments now account for 11.53% of the state’s total revenue receipts, reducing funds available for infrastructure and welfare initiatives.
The opposition has criticised the government’s financial management, with Leader of Opposition Ambadas Danve stating in the Maharashtra Legislative Council, “Maharashtra is spending ₹65,000 crore annually just on interest payments. The government’s mismanagement is evident, and the public will ultimately bear the burden.”
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CM Siddaramaiah alleges ‘criminal conspiracy’ in Sringeri recount, vows legal action
Bengaluru (PTI): Alleging a “criminal conspiracy” by BJP candidate D N Jeevaraj in the Sringeri Assembly poll recounting, Karnataka CM Siddaramaiah on Tuesday said the outcome was manipulated after valid postal ballot votes in favour of Congress leader T D Raje Gowda were tampered with during the recounting process.
Following a Karnataka High Court order on an election petition filed by Jeevaraj, challenging Raje Gowda’s election, the reverification and recounting were conducted on Saturday.
After the reverification and recount of postal ballots for the Sringeri Assembly constituency, votes polled in favour of Raje Gowda were reduced by 255, the returning officer said.
A report on the matter has been submitted to the Election Commission of India for further action, the officer added.
Congress leader Raje Gowda had won the 2023 Assembly polls from Sringeri by 201 votes, defeating his nearest rival Jeevaraj.
Addressing a press conference in Bengaluru, Siddaramaiah said the High Court had directed the recounting of postal ballots and that irregularities were noticed during the exercise conducted on May 2.
“This is a clear case of criminal conspiracy,” Siddaramaiah said, alleging that valid votes cast in favour of Raje Gowda were altered after being accepted by counting agents of all parties, including Congress, BJP, and JD(S).
He claimed that during the recounting of postal ballots, 255 votes were initially accepted as valid by all agents but were later tampered with by subordinate officials.
“There is a second mark on the votes polled in favour of Raje Gowda. They had accepted these as valid votes. Subsequently, another mark was made by officials. This is a clear case of criminal conspiracy,” he said.
When asked who was behind the alleged conspiracy, the CM replied, “It was hatched by Jeevaraj and others. It is planned.”
Siddaramaiah further alleged that the returning officer acted improperly by declaring the result despite the presence of an Election Commission observer during the recounting.
“Immediately after the counting, the returning officer announced the result. He should not have done so; this is against the law,” he said.
He pointed out that Raje Gowda had originally won by 201 votes, but after the recounting, the BJP candidate was declared the winner by 52 votes.
“The BJP has committed a criminal act of conspiracy. This is not vote chori but vote dacoity,” he alleged.
The CM said a police complaint had already been filed by Raje Gowda’s election agent, Sudhir Kumar, and emphasised the need for electoral integrity.
“We want transparency and free and fair elections. That is what our Constitution mandates,” he added.
Stating that the government would pursue legal remedies, Siddaramaiah said, “We are preparing an appeal challenging the returning officer’s announcement in a court of law.”
Responding to a separate query on elections in other states, the CM said there appeared to be an anti-incumbency factor in West Bengal, while results in Tamil Nadu were “surprising,” adding that Vijay’s party was emerging as the largest there.
Following the victory of party candidates in Bagalkote and Davanagere South, Siddaramaiah expressed confidence about future electoral prospects in Karnataka.
“Even in 2028, we will win the Assembly elections. We will come back,” the CM said.
Siddaramaiah added that he would order a forensic examination into the alleged tampering of postal ballots.
