Maharashtra asks for loan of Rs 1,000cr to meet crisis
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25/04/2003
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Asian Age (New Delhi)
The Maharashtra government wants a one-time grant of Rs 1,000 crores to meet liabilities in the state, showing that it is in bad shape financially. The government of Maharashtra has submitted a memorandum to the Union government to help the state to meet the financial crisis.
It has sought a one-time grant or soft loan of at least Rs 1,000 crores to meet spillover liabilities caused by unexpected payments like fifth pay commission, state electricity board, drought, cotton and unexpected reduction in revenue due to economic slowdown, said member of Parliament Naresh Pugila.