Maha Economic Survey estimates public debt at Rs 7,11,278 crore

Mumbai, June 27: Maharashtra’s public debt is estimated at Rs 7,11,278 crore in 2023-24 against Rs 6,29,235 crore in 2022-23, a rise of 13 per cent.

As per the Economic Survey 2023-24 presented in the Maharashtra Assembly on Thursday by Deputy Chief Minister Ajit Pawar, though the public debt has increased to 17.6 per cent of the Gross State Domestic Product (GSDP) against 16.5 per cent, it is well within the prescribed limits of 25 per cent of GSDP as per the Medium Term Fiscal Policy. The public debt refers to the accumulated outstanding loans and other liabilities of the state.

Further, the state’s outgo towards interest payment increased to Rs 48,578 crore against Rs 41,689 crore during the same period, a rise of 16.52 per cent.

The state’s revenue receipts are estimated at Rs 4,86,116 crore against Rs 4,05,678 crore. Of the 4,86,116 crore, the state’s tax revenue is estimated at Rs 3,96,052 crore comprising Rs 3,26,398 crore from its taxes and Rs 69,654 crore due to share in central states.

The non-tax revenue, including central grants, is estimated at Rs 90,064 crore. Actual revenue receipts (RE) during 2023-24 up to February were Rs 3,73,924 crore (76.9 per cent of RE)

The state’s revenue expenditure is estimated at Rs 5,05,647 crore against Rs 4,07,614 crore. Actual revenue expenditure during 2023-24 up to February was Rs 3,35,761 crore (66.4 per cent of RE). The revenue deficit is likely to be Rs 19,532 crore against Rs 1,936 crore.

As per 2023-24 (RE), the share of capital receipts in total receipts is 25.9 per cent and the share of capital expenditure in total expenditure is 23.0 per cent.

The percentage of fiscal deficit to GSDP is 2.8 per cent, revenue deficit to GSDP is 0.5 per cent.

The total anticipated expenditure for annual schemes 2023-24 is Rs 2,31,651 crore, of which Rs 20,188 crore is on the district annual schemes.