Maharashtra plea to Centre again on World Bank loan

  • 08/12/2004

  • Financial Express (New Delhi)

The debt-ridden Maharashtra government has made a fresh appeal to the Centre to recommend its demand to the World Bank for structural adjustment loan of Rs 10,000 crore. The state goverment's plea comes at a time when its revenue deficit soared to Rs 14,018 crore and fiscal deficit increased to a record Rs 25,047 crore. The state government's move to approach the Centre is crucial when state's debt stock has crossed Rs 1,10,000 crore. The government in its recent presentation to the Planning Commission has admitted that the state was stepping into a debt-trap situation.