In a clear reflection of the poor fiscal management by the Congress-led DF Government over the years, Maharashtra's debt position has shot up further to a staggering Rs2.53 lakh crore during 2012-13.
According to the Economic Survey for 2012-13, prepared by the Directorate of Economics and Statistics of the Planning Department, the debt stock of Maharashtra has touched an astounding Rs2,53,085 crore, an increase of Rs24,499 crore from the previous financial year's accumulated figure of Rs2,28,590 crore.
The accumulation of unpaid loan and other liabilities on Government forms the debt stock. The Maharashtra Government tabled the Economic Survey for the year ending March 31, 2013, in both the Houses of the State legislature on Tuesday, a day ahead of the presentation of its Budget.
According to the survey, the debt stock of the State at the end of 2006-07, was of the order of Rs1,33,722 crore.
The report card on economy of the State Government, states that the open market borrowings, are one of the main components of internal debt, while other component is securities from National Small Savings Fund (NSSF) both of which contribute about 75 per cent of debt stock.
Internal debt of the State Government is all set to go up to Rs1,91,449 crore — 75.6 per cent of debt stock, of which market borrowings are Rs17,797 crore. The overall expected internal debt in 2012-13 is of Rs23,762 crore of which Rs8,981 crore will be used for repayment.
In another pointer to the not-too healthy fiscal scenario in Maharashtra, its agriculture sector has shown a decline in growth by 1.4 per cent during 2012-13, while the production of food grains is expected to drop by 18 per cent during
the period.
According to the Economic Survey for the year 2012-13, the agriculture sector is expected to grow at (-) 1.4 per cent, thus restraining the growth of agriculture and allied activities' sector by (-) 2.1 per cent.
The survey pointed out that the total rainfall in the State during 2012 was 90.3 per cent of normal rainfall. Out of 355 talukas in the State, 30 talukas received excess, 189 talukas received normal and 136 talukas received deficient rainfall.
Owing to low intensity and deficit monsoon in some parts of Western Maharashtra, Aurangabad and Nashik division, the sowing of major Kharif crops was delayed. low moisture conditions and erratic rainfall in September and October has resulted in reduction of area under Rabi crops
The Economic Survey said that production of food grains in 2012-13 is expected to decrease by 18 per cent with production of 104.39 lakh MT as against 127.30 MT during the previous year.
However, the production of oilseeds and cotton (lint) are expected to increase by 15 and 2 per cent, respectively. The production of sugarcane is expected to decrease by 33 per cent.
Average daily collection of milk by government and co-operative dairies was 39.22 lakh litres upto November 2012, which was 38.57 lakh litres during 2011-12. The totak milk production the previous year was 84.69 MT.
During 2012-13, up to December, estimated marine and inland fish production was 3.15 lakh MT and 1.10 lakh MT, respectively. During 2011-12, it was 4.34 lakh MT and 1.45 lakh MT, respectively.