Maharashtra's New Financial Directive: Bridging Budgets and Balancing Books

Maharashtra's Chief Secretary, Sujata Saunik, issued a directive for departments to disclose potential budget overspending for proposals to the state cabinet. The directive aims for increased financial transparency and accountability while stabilizing state finances. Deputy CM Ajit Pawar emphasized timely loan payments, warning against reliance on waivers due to fiscal constraints.

Maharashtra's Chief Secretary, Sujata Saunik, has mandated that all new proposals to the state cabinet include a clear outline of potential budget overspending. This directive highlights the state's focus on financial transparency amid fiscal pressure.

The directive insists on identifying excess expenditures clearly and encourages reducing non-productive spending and merging redundant schemes as part of a broader strategy to control fiscal deficits and prevent excessive borrowing.

Deputy Chief Minister Ajit Pawar, focusing on financial discipline, advised farmers to repay loans on time, eschewing expectations of waivers, emphasizing the critical nature of managing state finances responsibly to secure welfare schemes, development, and salaries.

(With inputs from agencies.)