Panel to oversee State expenditure mooted

NAGPUR, DECEMBER 20: The Maharashtra Government today recommended setting up of a high-level committee for expenditure management, reviewi...

NAGPUR, DECEMBER 20: The Maharashtra Government today recommended setting up of a high-level committee for expenditure management, reviewing extravagant grants and forming a board for financial and managerial restructuring for revamping various corporations.

Talking to mediapersons after tabling the much-awaited white paper on the economic scenario in both Houses of state legislature, Finance minister Jayant Patil accused the previous Shiv Sena-BJP alliance government of financial mismanagement.

In 1994-95, when the Sena-BJP alliance came to power the state had Rs 277 crore in revenue surplus, while in 1999-2000 the revenue deficit was a staggering Rs 7,972 crore, he said.

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The Minister blamed the saffron alliance government of raising loans to clear the revenue deficit instead of using it on capital expenditure.

Terming the economic situation of the state `grim’, the Minister said Maharashtra was enmeshed in a `debt trap’ and hinted at some stringent steps to put the economy back on rails and solicited co-operation of people.

The white paper has elaborated on the revenue deficit, reasons behind deteriorating financial situation and steps taken for improving the economic situation.

Algerian-French artist’s work vandalised at Kochi art gallery over ‘obscenity’ allegations

India32 min ago

Algerian-French artist Hanan Benammar's linocut prints were vandalised by two artists at an international exhibition in Kochi. The exhibition, curated by Anushka Rajendran and Damian Christinger, was organised by the Kerala Lalithakala Akademi and opened on October 18.

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