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Finance Commission to visit Maharashtra from 17th Sep, Intra state disparity and issues related to urbanisation to be focussed

News and Press Release - Dated:- 15-9-2018 - The Fifteenth Finance Commission of the Government of India is visiting the state of Maharashtra from 17th to 19th September 2018. The Commission led by the Chairman Shri N.K.Singh, Members - Sh. Shaktikanta Das, Dr. Anoop Singh, Dr. Ashok Lahiri, Dr. Ramesh Chand and Secretary Shri Arvind Mehta along with other officials will have meetings with Chief Minister, Ministers and other officials of the state in Mumbai. There will be meetings with the leade .....

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income State of the Indian Union. It is a leading industrial State and also one of the most urbanized States in India. It is also known as the host State to several leading educational institutions in the country. Maharashtra contributes around 15 per cent of the Gross Domestic Product of India. Service sector contributes 57 per cent of the state income, followed by industrial sector with 33 percent and remaining 9 per cent originates in the agriculture and allied sectors. However, high inter re .....

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by the Maharashtra Fiscal Responsibility and Budgetary Management Rules (MFRBM, 2011). Yet, a revenue deficit of 0.5 per cent of GSDP continues to be a worrisome factor for Maharashtra; the revenue deficit to GSDP ratio has increased even as the fiscal deficit to GSDP ratio has fallen. This indicates that debt is being used for revenue expenditures. Revenue expenditures show rigidities due to the presence of high levels of salary and interest payments. More stringent steps would be required to a .....

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which is far lesser than other comparable, large-sized developed States. It is also worrisome to note that the targeted Budget Estimate of the tax-GSDP ratio shows a secular decline over the past decade. Debt sustainability should be addressed through higher revenue generation rather than through expenditure contraction. The pace of decentralization needs to be increased. As of March 2015, only 14 functions out of the indicated 29 functions have been fully transferred to the local bodies. The S .....

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7. The trend growth declined from 17.69% during 2009-13 to 11.05% in 2014-17. The trend growth of States own tax revenue declined from during 19.44% in 2009-13 to 8.16% in 2014-17 The percentage of capital expenditure to total expenditure remained between 11 and 12 during 2013-17 5th SFC recommendations are ideally required to be implemented from 2014-15 onwards, and it appears in Maharashtra that even Report of the 4th SFC is pending Sharp Social and Economic Social Disparity across various dis .....

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