Maharashtra to float Rs 2,000 cr loan to fund development projects

25 May 2022 CW Team

The Maharashtra government, which has a debt projection of Rs 6.5 lakh crore, has decided to float a loan of Rs 2,000 crore to fund development projects in the state.

A senior official told the media that the public borrowings take place throughout the year. The public notices are issued, so the government is conscious of the most competitive interest rate. The state's post-Covid revival strategy is to enhance public spending to boost demand.

The state budget, tabled in March, had projected borrowings for 2022-23 to be an assessed Rs 89,768 crore. The state budget had projected a revenue deficit of Rs 24,352 crore. The government's revival is likely to lead to higher borrowings and debt but also greater capital expenditure, which is assumed to be growth-oriented.

The state finance department told the media that all the loans taken from the Government of India (GoI) and other sources are being primarily used for the creation of the productive asset or advancing loans for productive programmes to bodies.

Image Source

Also read: IREDA approves Rs 14,445 cr loans for RE projects in Maharashtra

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..