ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Maharashtra's Finances

The sheer pace of the fiscal correction envisaged in the Maharashtra budget of 2005-06 is unbelievable, to say the least, and raises doubts about its sustainability over a longer period. The first doubt is inevitably the question of the consistency of the estimated levels of revenue and expenditure. Second, going beyond the numbers, are the larger policy issues underlying budget magnitudes. If there were reasons to believe that the policies culminating in the fiscal crisis would be corrected, it would be reasonable to expect some improvement in the deficit numbers.

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