In the Golden Jubilee Year of
Maharashtra ‘facing worst economic crisis’
Nagpur- 12th March 2010,
When last in August 2009,It’s first economic survey of newly elected Govt.,before submitting the Budget Maharashtra Govt. has admitted that state is not economic growth map when it was told that last year Maharashtra lost 2 million jobs in the year 2008-2009,food grain production dropped by 25% before drought has been declared ,outstanding debt mounting to Rs.1,58,520 crore, interest payment on debt is Rs. 12,953 crore,30% drop in employment provided under National Rural Employment Guarantee Scheme (NREGS), poverty ratio in the State is 30.7 per cent as against All-India average of 27.5 percent and more than 6000 farm suicides and lacs of tribals death due to malnutrition and starvation but same time rosy picture was shown regarding massive job creation and investments in infrastructure ,increase in food crop production ,reduction in the debt and restoration basic facilities to poor like food ,shelter, health ,education and rural employment ,industrial growth but nothing has happened and economical crisis further deepen and in the golden jubilee year of it’s formation Maharashtra is set to face worst economic crisis and fiscal collapse due to poor governance and massive corruption in ministry , Vidarbha Jan Andolan Samiti(VJAS) president kishor Tiwari informed today regarding economic collapse of Maharashtra and urged central Govt. intervention to avoid systematic failure of fiscal structure of Maharashtra .
VJAS has drawn the attention towards the drought situation in more than 20,000 villages that has effected sharply drop in kharif and raby crop and first food production has like to be drop below 102 lakh MT first time in history of Maharashtra .it was told that Total 14,957 industrial projects with an investment of Rs. 5,04,689 crore and employment potential of about 27.54 lakh have been registered with the GoI to set up units in the State till the end of December, 2008. Out of these, 6,778 projects with an investment of Rs. 1,10,149 crore have already started their production and employment of about 6.93 lakh has been generated. The compounded annual growth rate (CAGR) for the last five years for investments in registered and commissioned projects is 16.1 and 2.6 per cent respectively but in ground reality nothing has happened.
Regarding power sector growth it was told that ,the total available installed capacity of electricity in the State at the end of March, 2008 was 21,654 MW as against 17,984 MW at the end of March, 2007. During 2008-09, the generation of electricity in the State upto the end of November, 2008 was 51,465 million KWH, higher by 6.0 per cent than that in the corresponding period of 2007-08. The State is facing a power deficit of about 4,500MW. The transmission losses of MAHATRANSCO were 5.0 per cent and the distribution losses of MAHADISCOM were 24.1 per cent during 2007-08 but net incrase in power is almost nil .
Major high light of economic survey was An ambitious project for setting up a world class
‘As Maharashtra chief Minster Ashok Chavan was full year busy in land allotments and land lease ,touts have taken over the administration and Maharashtra in it’s golden year of creation is going toward bad phase of economic condition of one time very progressive state Maharashtra due to huge mounting debt, massive administrative corruption coupled with administrative failure of present Govt., It’s matter of serious concern of all tax prayer of Maharashtra ’ kishore tiwari of VJAS informed today.
As per last year economic report ,it is informed that the revenue receipts of the State Government are expected to be Rs. 79,911 crore during 2008-09 as against Rs. 79,860 crore during 2007-08. The tax revenue of the State is expected to be Rs. 60,839 crore in which State’s own tax revenue is Rs. 51,893 crore (85 per cent). The non-tax revenue is expected to be Rs. 19,072 crore.The revenue expenditure of the State Government during 2008-09 is expected to be Rs. 78,946 crore, higher by 19 per cent over the previous year, of which interest payment is Rs. 12,953 crore (16.4 per cent).The total outstanding debt during 2008-09 is expected to be Rs. 1,58,520 crore (25.8 percent of the GSDP).The food grains production for kharif and rabi season in the State is estimated to be 117.19 lakh M.T. as a preliminary forecast, less by 24 per cent compared to that of the previous year. A steep fall of 49 per cent is expected in production of oilseeds. Sugarcane production is also expected to be much lower by 43 per cent (at 508.13 lakh M.T.) mainly due to reduction of 30 percent in the harvested area.The estimated employment in the State, based on National Sample Survey, which was on rise till 2004-05 at 4.3 crore, declined to 4.1 crore in 2007-08 clearly indicating the footprints of recession.The employment provided under National Rural Employment Guarantee Scheme (NREGS) during 2008-09 was 4.2 crore person days as against 6.0 crore person days provided under Employment Guarantee Scheme (EGS) and NREGS during 2007-08.The poverty estimate provided by the Planning Commission of India, reveal that the poverty ratio in the State during 2004-05 is 30.7 per cent as against All-India average of 27.5 percent. Though the results at various points of time show decline in poverty ratios, the number of persons living below poverty line is gradually increasing since 1973-74 and increased by 12.2 lakh persons in 2004-05 as compared to 1993-94.
Kishore Tiwari of VJAS has asked today to central Govt. to review economic crisis in Maharashtra due to uncontrolled plan and unplanned expenses of state Govt. and on going fiscal deficit of state Govt. as bureaucratic control is of executive is missing and corruption in administration is at it’s peak hence fiscal monitoring and central review is needed..
“this is election year but people of Maharashtra will have to pay cost of political misdeed in future ,more hardship are in pipeline if corrective steps are not taken today” tiwari added.