Auto Segment
Mutual Fund Segment
My Budget
Expert Speak
In Association With
Business Standard

World Bank Presages Insolvency For State

Related News

A World Bank report on state finances has warned that Maharashtra is heading towards insolvency by 2005-06 unless its revenue and deficits besides debts (including off-budget borrowings) are reigned in.

The report also comments on the liability overhang (estimated at Rs 4,000 crore by the state finance department at the beginning of 2002-03) with the treasury issuing post-dated cheques from revenues collected in a current year to pay for the expenditures incurred in the previous year.

In a Maharashtra-specific analysis the report states:

Read more on:   

Read More

Can’t borrow beyond a limit: Chidambaram

Finance Minister P Chidambaram today said the government was not in a position to borrow beyond a limit and that there was a need to bring down the ...

Recommended for you

Quick Links

Back to Top