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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Minister Parameshwara says remarks on properties linked to drug peddlers 'misunderstood'
Tumakuru (PTI): Karnataka Home Minister G Parameshwara on Saturday said his recent remarks on the demolition of properties linked to those involved in narcotics trade were "misunderstood and misinterpreted".
His clarification follows remarks made two days ago on the government's uncompromising crackdown on the drug menace, including action against properties linked to foreign nationals allegedly involved in drug trafficking.
"It is unfortunate. It is taken in the wrong sense. I didn't mean that tomorrow itself I am going to send bulldozers and demolish the houses. That was not my intention. It was wrongly taken," he told reporters here.
Responding to Congress MLC K Abdul Jabbar's question in the legislative council on the growing drug menace in Bengaluru, Davangere and coastal districts, the minister on Thursday detailed the extensive enforcement measures initiated since the Congress government assumed office.
Pointing to the involvement of some foreign nationals, the minister had said, "Many foreign students from African countries have come to Karnataka. They are into the drug business. We catch them and register cases against them, but they want the case to be registered because once the case is registered, we cannot deport them."
"We have gone to the extent of demolishing the rented building where they stay," he had said.
