Latest news with #15thFinanceCommission
Hans India
8 hours ago
- Business
- Hans India
Projects under 15th Finance Commission should be completed on time: Ajit Pawar
Mumbai: Maharashtra Deputy Chief Minister and Finance Minister Ajit Pawar on Wednesday directed officials of various departments to ensure a timely and high-quality completion of all projects initiated under the 15th Finance Commission. At the review meeting, Pawar said, 'The state is receiving full support from the central government for these projects. All plans have been designed considering the requirements of the next century. Departments must coordinate closely and ensure that every rupee from the Finance Commission is utilised before the end of the current financial year, and not a single rupee is returned.' He held an extensive review of major projects including creation of artificial coral reefs using the decommissioned INS Guldar near Sindhudurg, along with world-class scuba diving, submarine tourism, and an underwater museum, construction of Unity Mall near the international airport at Ulwe in Navi Mumbai, development of the Ram-Kal-Path in Nashik, construction of hostels for working women in Thane, Nagpur, Navi Mumbai, Chhatrapati Sambhajinagar, Pimpri-Chinchwad, Kalyan-Dombivli, and Solapur, conservation of cultural heritage, development of Rewas Redi coastal highway, housing schemes for police personal and projects undertaken by Urban Development, Rural Development, Disaster Management, Public Health. Deputy CM Pawar assured the state government's full support in removing any hurdles but emphasised that all projects must be completed within the timeline and meet high-quality standards. Senior officials from the departments of Finance, Planning, Urban Development, Tourism, Public Health, Forest, and Public Works attended the meeting. Earlier on Monday, Ajit Pawar presented supplementary demands worth Rs 57,509.71 crore for the financial year 2025-26 on the first day of the Monsoon Session of the Legislature. This came amid reported constraints over the availability of adequate funds due to the ballooning fiscal and revenue deficits and mounting public debt. Of the Rs 57,509.71 crore, the allocation of Rs 19,183.85 crore has been made for committed expenditure and the balance is to provide funds for various government programmes and also towards the state government's contribution in the implementation of Central government schemes. Deputy CM Pawar, during the budget session held in March this year, had tabled the supplementary demands worth Rs 6,480.20 crore.
Hans India
2 days ago
- Politics
- Hans India
Govt diverted 15th FC funds, YSRCP alleges
Puttaparthi: The YSR Congress Party (YSRCP) State General Secretary for Panchayati Raj, Regatipalli Suresh Reddy, alleged that the coalition government is diverting the 15th Finance Commission (FC) funds sanctioned by the Central Government instead of disbursing them to local bodies. He demanded that the funds be directly allocated to local public representatives such as MPPs, MPTCs, and Sarpanches to enable their proper utilization at the village level. Suresh Reddy submitted a memorandum to Sri Sathya Sai District Collector TS Chetan during the Public Grievance Redressal Programmr held at the Collectorate on Monday. Speaking on the occasion, he urged the government to implement the powers of Sarpanches as per Articles 73 and 74. He expressed concern over the current government's approach of treating Sarpanches as government employees, stating that they are elected public representatives and must be given due respect. He further demanded that all welfare schemes be extended to the families of Sarpanches and raised serious concerns over alleged irregularities in the execution of MGNREGS (Mahatma Gandhi National Rural Employment Guarantee Scheme) works. The YSRCP leaders present called for a thorough investigation into corruption in the scheme and insisted that all rural employment projects should be executed through Panchayats, ensuring timely wage payments to workers. Additionally, they demanded immediate postings for the 1,320 Panchayat Secretaries currently awaiting assignment and the release of pending salaries. The leaders also urged the State Government to transfer the Rs1,150 crore released by the Centre to the local bodies without delay.
Hindustan Times
2 days ago
- Business
- Hindustan Times
Mahayuti seeks ₹57,510 crore extra within 14 weeks of ₹7-lakh-crore budget
MUMBAI: Fourteen weeks after the state government presented a ₹ 7-lakh-crore budget for FY 2025-26, it has tabled supplementary demands of ₹ 57,510 crore—a sum which is about 8.21% of the budget and the second-highest supplementary demand in the history of the state. Terming this a sign of the government's fiscal indiscipline, the opposition and experts said that with further supplementary demands likely to be tabled in December and March, it could cross 15% of the budget and result in an unprecedented rise in the fiscal deficit. CM Devendra Fadnavis, Dy CM Eknath Shinde, Dy CM Ajit Pawar and other MLAs pay respects to Chhatrapati Shivaji Maharaj. (Anshuman Poyrekar/ Hindustan Times) The supplementary demands tabled by finance minister Ajit Pawar on the first day of the monsoon session on Monday will result in a whopping rise in revenue deficit and fiscal deficit. At the time of the budget presentation in March, the revenue deficit was ₹ 45,891 crore while the fiscal deficit was ₹ 13,6235 crore, the highest in Maharashtra's history. According to experts and officials, the additional expenditure will also result in borrowing if the government ends up spending the entire outlay. The government has estimated the debt burden by the end of FY 2025-26 to be ₹ 9.32 lakh crore. 'The revenue receipts of FY 2024-25 were 98.84% of the revised estimate of ₹ 49,8758 crore, which means that the deficit will anyway increase by ₹ 5,808 crore if carried forward to the current fiscal,' said a senior finance department official. 'The addition of supplementary demands of more than 8% is undesirable for any state, following a fiscal deficit. Although there is no regulation on limit, as per convention, supplementary demands should not cross 10% in a fiscal year. Looking at the history of previous supplementary demands by the Mahayuti, this year, the figure is expected to cross at least 15%.' The supplementary demands tabled on Monday are the second highest in the history of the state after the supplementary budget of ₹ 94,889 crore, tabled in July 2024. Tabled to fund the Mahayuti government's populist schemes such as Ladki Bahin ahead of the assembly polls last year, they had resulted in the supplementary budget tabled in FY 24-25 mounting to ₹ 1,37163 crore or 22.4% of the budget of that year. The highest outlay in the supplementary budget this time is for the urban development department ( ₹ 15,465 crore), followed by public works ( ₹ 9,068 crore), rural development ( ₹ 4,733 crore) and social justice ( ₹ 3,799 crore). ₹ 11,043 crore has been allocated for matching grants for the 15th Finance Commission, ₹ 3,228 crore towards the waiver of stamp duty on metro projects, ₹ 2,241 crore as a secondary loan to metro projects, ₹ 2,183 crore for margin money loans to sugar factories and ₹ 2,150 crore towards matching grants to long-term, interest-free loans from the central government. Former finance minister and NCP (SP) MLA Jayant Patil said that the supplementary demands had resulted in a further rise in the deficit. 'This is another record set by the state government after presenting a deficit budget of ₹ 45,891 crore,' he said. The deficit has now crossed ₹ 1.03 lakh crore and could exceed ₹ 1.5 lakh crore after the remaining two supplementary demand budgets are tabled in December and March next year. This is a sign of the government's failure to maintain fiscal balance.' Patil said that most of the provisions in the supplementary demands were for contractors and agencies whose dues have been pending for months. 'The rise in the deficit results in backward classes and scheduled castes and tribes being deprived, as their funds are diverted for other purposes,' he said. Rupesh Keer of the NGO Samarthan, which studies the state budget, said, 'It is an example of fiscal indiscipline, as the demands have been tabled just three months after the budget. Most of the provisions in the supplementary demands are for ongoing infrastructure projects, which were underway even when the budget was tabled, and could have been made in the budget itself. The state government must defer the allocation to keep the fiscal deficit low while presenting it.'
New Indian Express
2 days ago
- Business
- New Indian Express
Maharashtra: Ajit Pawar presents supplementary demands worth Rs 57,509 crore in assembly
With an eye on civic body elections, Maharashtra deputy chief minister, who also holds the finance portfolio, Ajit Pawar on Monday tabled supplementary demands of Rs 57,509 crore on the first day of the monsoon session of Maharashtra state legislative assembly. Interestingly, a huge chunk of the funds, running to Rs 17, 465 crore, has been allocated to urban development department to improve infrastructure in urban local bodies. This gains significance in view of the upcoming elections to 29 civic bodies. The supplementary demand for grants is a request made to the legislative assembly for funds beyond what was originally allocated in the annual budget. During the last budget as well, finance minister Ajit Pawar had tabled the supplementary demands worth Rs 6,480.20 crore despite objections from the opposition. The demands include Rs 19,183 crore for mandatory expenses while Rs 34,661 crore for state government schemes and programs and Rs 36,664 crore for central government sponsored schemes and programs. Rs 11,042.76 crore has been earmarked for various grants as per the recommendations of the 15th Finance Commission. Next to urban development, public works department (PWD) has been allocated Rs 9068 crore to foot the bill of road contractors and execute various projects. The social justice department has been allocated Rs 3798 crore. The cooperative, marketing and textile department has been allotted Rs 2835 crore and the woman and child development department, Rs 2363 crore.
News18
2 days ago
- Business
- News18
Ajit Pawar Proposes Extra Funds For Infrastructure, Backward Communities; NCP-SP Questions Move
Apart from large-scale projects, part of this allocation will be used for the upcoming Nasik Kumbh Mela's planning and execution. In a major move to strengthen Maharashtra's development goals, Deputy Chief Minister and Finance Minister Ajit Pawar presented supplementary demands worth over Rs 57,509 crore during the ongoing monsoon session of the state legislature. This additional funding will mainly go towards building and expanding essential infrastructure such as roads, metro rail projects, and irrigation schemes. Apart from large-scale projects, part of this allocation will be used for the upcoming Nasik Kumbh Mela's planning and execution, ensuring that the state is prepared to manage the massive gathering smoothly. The supplementary demands also focus on supporting vulnerable and backward communities. Funds have been earmarked for important social welfare schemes like the Mahatma Jyotirao Phule Health Scheme and the Sanjay Gandhi Niradhar Anudan Yojana. Scholarships for students from backward sections of society are also covered under these new demands. Out of the total amount, over Rs 19,000 crore will go towards essential expenses, while more than Rs 34,000 crore is set aside for various planned programs. A portion of the funding, about Rs 3,664 crore, will come under centrally sponsored schemes, reducing the direct burden on the state exchequer. Among the specific allocations, the largest share – over Rs 11,000 crore – will be spent on grants recommended by the 15th Finance Commission. Another significant portion, around Rs 3,200 crore, is planned for metro projects and reimbursements to municipal bodies like municipal corporations and councils. Additionally, nearly Rs 2,200 crore is being arranged as margin money loans for cooperative sugar factories through the National Cooperative Development Corporation, supporting the state's crucial sugar industry. Though the gross demand stands at over Rs 57,000 crore, the net burden on the state's finances is estimated to be around Rs 40,645 crore, making this push both ambitious and calculated to balance development with fiscal responsibility. Social welfare remains a strong focus in these supplementary demands. Funds will strengthen the Mahatma Jyotirao Phule Health Scheme and the Sanjay Gandhi Niradhar Anudan Yojana, which provide health security and financial assistance to vulnerable and underprivileged families. Scholarships for students from backward communities are also included, ensuring that deserving students can pursue education without financial hurdles. However, the Opposition has questioned the move. Former Finance minister and NCP(SP) leader Jayant Patil, asked, 'Such huge supplementary demands will put extra burden on the state. If the govt is saying that they have no money for other projects and welfare schemes and state is already under the huge debt, then how they are going to pass such huge supplementary demands?" By tabling this sizeable supplementary budget, the Maharashtra government has shown that it wants to speed up big-ticket projects while also reaching the state's most backward and weaker sections. The focus is on creating better roads, faster urban mobility, stronger rural infrastructure, and wider social safety nets, aiming for balanced growth across the state. First Published: June 30, 2025, 17:27 IST
