CM rejects bankruptcy claim, says Maha rising as winter session ends

In a 90-minute speech, Fadnavis denies oppn's bleak apprehensions on state's fiscal health

- Ramu Bhagwat

CM Devendra Fadnavis categorically dismissed the opposition's bleak apprehensions on the state's financial health. “Far from moving towards bankruptcy, Maharashtra is on a fast trajectory of growth and development,” he asserted. The conclusion of the legislature's winter on Sunday was marked by Fadnavis’ spirited speech that stretched to 90 minutes.

The opposition had alleged that with external debt mounting to Rs9.32 lakh crore, the state was going broke. “All the welfare schemes, including Ladki Bahin yojana, will continue. As per the RBI guidelines and Fiscal Responsibility and Budget Management Act, the state is within its limits of fiscal prudence,” the CM assured. In a statistical breakdown, he said, “While Maharashtra is allowed to borrow up to 25% of its GDP, it has reached 18.70%,” implying that the situation may be strained but not out of control.