Facing a ₹7.5 Lakh Crore Debt, Maharashtra's Government Implements Tough Financial Discipline

Maharashtra's government is tightening its financial reins as it grapples with a staggering ₹7.5 lakh crore debt. In a recent directive, the finance department has prohibited new procurement orders and tenders starting February 15, aiming to curb unnecessary expenditures in the final months of the fiscal year. This move follows a significant rise in the state's fiscal deficit, which has surpassed ₹1 lakh crore due to various populist schemes. Finance Minister Ajit Pawar emphasized the need for strict financial discipline to ensure sustainable governance moving forward.

 

Source: Indian Express, Times of India