Saturday, November 17Latest News

The state’s income will eat in half a salary bill


Even as the Maharashtra Government has united to implement the Seventh Pay Commission report from 1st Gregorian calendar month 2016 onward, the overall expenditure of over nineteen 100000 workers, together with remuneration, pension and expensiveness allowance, can slice thee revenue by nearly fifty per cent, swing powers that be in an exceedingly fix.

While the state’ revenue is pegged at Rs a pair of,43,738 large integer for 2017-2018, the worker expenditure is predicted to be within the region of Rs one.37,214 crore. It includes remuneration expenditure Rs. 87,147 crore, pension Rs twenty five,567 crore, the projected implementation of seventh Pay Commission report Rs twenty one,000 large integer and arrears of expensiveness allowance Rs.3,500 crore.

The state is already reeling below the burden of Rs thirty four,000 large integer attributable to farm loan relinquishment. Besides, existing debt has mounted up to Rs four,33,214 large integer and along side interest of Rs thirty one,027 crore, the overall debt burden has reached up to Rs four,64,241 crore, worrying the govt, that has got to balance its applecart. A committee headed by retired IAS officer K P Bakshi is already within the method of collating knowledge on range of workers and their pay scale.

Burdened with the increased remuneration bill, the govt is considering cutting its total personnel by thirty per cent. In December last, the finance department had issued a Government Resolution (GR), asking all the departments to create a replacement programme for workersing desires and submit the overall range of staff they need. It aforementioned that the various departments should cut the demand for human resources by thirty per cent by adopting new data technology and transfer potency. All the departments, except home and public health, were asked to chop workers and implement the new staffing programme.

As of currently there ar nearly fifteen per cent vacant posts and therefore the government has already stopped recruiting within the wake of its poor economic condition. There ar thirteen 100000 authorities workers and around half dozen 100000 pensioners.

Now that GST has replaced all different taxes, the state has stepped up drive to hide most revenue by manner of taxes. The state collected Rs eighteen,701 large integer throughout July to Gregorian calendar month, 2017 and additionally collected a cess of Rs 846 large integer, that is being employed to atone for the insufficiency that occurred once shifting to the new taxation regime and garnered Rs three,702 large integer through cess levied on luxury merchandise since the rollout.

Meanwhile, the govt expects to sign agreements value over Rs seventy two,000 large integer within the succeeding “Magnetic Maharashtra capitalist Summit” to be inaugurated by Prime Minister Narendra Modi in Bombay on Gregorian calendar month eighteen. Chief Minister Devendra Fadnavis’ cupboard has already unveiled a seven-pronged strategy to draw in investors in sectors starting from defence and region to electrical vehicles and fibre. The initiatives ar expected to come up with employment for one 100000 folks, and therefore the government can raise a corpus of Rs one,000 large integer to confirm uninterrupted flow of capital to medium, little and small industries in these sectors.

The policies with specific sops targeting sectors like region and defence, electrical vehicles, fintech, coir, textiles, garments, jewelry and integrated supply parks, are devised to form the correct atmosphere for these industries to flourish. as an example Rs two hundred large integer are allotted to be spent over 5 years for goad region and defence-related investments. The calculable investment is textile Rs 3600 large integer, house and defence Rs twelve,000 large integer and electrical vehicles Rs twenty four,000 crore.

The authorities can establish defence hubs in Pune, Nagpur, Ahmednagar, Nashik and Aurangabad. check ranges and storage facilities are created out there, considering the distinctive desires of industries in these sectors.

The government is additionally attending to started ‘Global Fintech Hub’ within the Bombay Metropolitan Region (MMR), Bombay which can be among the highest 5 money technology centres internationally. ‘Fintech’ is crucial to the banking, money services and insurance sectors.


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