With the state debt set to cross Rs4 lakh crore mark, the Maharashtra government has requested the centre help to
reduce the interest rate on the loans it had taken from the latter in the past. The move is expected to help the
state save more than Rs2,000 crore every year.
State finance minister Sudhir Mungantiwar on Sunday requested Union finance minister Arun Jaitley, who was in the
city to discuss issues related to the Good and Services Tax (GST) with representatives of petroleum and liquor
manufacturing industries, to reduce interest rates by 2.75%.
“We have requested the finance minister to slash the interest rate on the loans provided to us by the centre in the
past. The erstwhile Congress-NCP government had taken loans of Rs75,000 crore at the interest rate of 9.5%. We have
now asked it to bring down to the prevalent rates — 6.75%. If this gets approved, the government will save Rs2,062
crore every year,” Mungantiwar told HT.View more:-Bulk Sms Service provider
He said that Jaitley has agreed to consider the demand, as it will help improve the financial health of the state.
The debt of the state is slated to cross Rs4 lakh crore in this fiscal and the state is likely to pay around
Rs31,027 crore as interest for the loans in 2017.
Source:-Hindustantimes
reduce the interest rate on the loans it had taken from the latter in the past. The move is expected to help the
state save more than Rs2,000 crore every year.
State finance minister Sudhir Mungantiwar on Sunday requested Union finance minister Arun Jaitley, who was in the
city to discuss issues related to the Good and Services Tax (GST) with representatives of petroleum and liquor
manufacturing industries, to reduce interest rates by 2.75%.
“We have requested the finance minister to slash the interest rate on the loans provided to us by the centre in the
past. The erstwhile Congress-NCP government had taken loans of Rs75,000 crore at the interest rate of 9.5%. We have
now asked it to bring down to the prevalent rates — 6.75%. If this gets approved, the government will save Rs2,062
crore every year,” Mungantiwar told HT.View more:-Bulk Sms Service provider
He said that Jaitley has agreed to consider the demand, as it will help improve the financial health of the state.
The debt of the state is slated to cross Rs4 lakh crore in this fiscal and the state is likely to pay around
Rs31,027 crore as interest for the loans in 2017.
Source:-Hindustantimes
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