: Mumbai, December 31, 2021

The Annual Accounts of the Government of Maharashtra viz. the Finance Accounts and the Appropriation Accounts for the year 2020-21, have been tabled in State Legislature on December 28, 2021. The Finance Accounts of the Government of Maharashtra present the financial position of the State along with the details of receipts and disbursements of the Government for the year. The Appropriation Accounts present the sums expended in the year against the provisions specified in the schedules appended to the Appropriation Act. These have been prepared by the Principal Accountant General (A&E)-I, Mumbai under the supervision of the Comptroller and Auditor General of India.

The key highlights of Annual Accounts the Government of Maharashtra 2020-21 are as follows:

• Revenue Deficit:

The State had a Revenue deficit of ` 41,142 crore against the target of maintaining a revenue surplus fixed in the Maharashtra Fiscal Responsibility and Budget Management Act, 2005.

• Fiscal Indicators:

The State’s Fiscal Deficit of ` 71,558 crore ( 2.69 per cent of Gross State Domestic Product (GSDP) of ` 26,61,629 crore) is within the target of 3 per cent of GSDP fixed by Section 5.2 of Maharashtra Fiscal Responsibility and Budget Management Act, 2005.

• Public Debt:

The total public debt has increased by more than 28 per cent from Rs.3,35,021 crore in 2018-19 to Rs. 4,28,482 crore in 2020-21.

Utilization of Public Debt receipts for servicing of debt showed a decreasing trend from 207 per cent in 2018-19 to 75 per cent in 2020-21.

• Receipts and Disbursements

Receipts and Disbursements of the Government of Maharashtra as depicted in the Finance Accounts for the year 2020-21 are given below:-

The Union Government transfers substantial funds directly to State agencies for implementation of various schemes and programmes. As these transfer of funds were not routed through State Budget, they are not reflected in the accounts of the State Government. Though there is no assurance for completeness of the details, the funds so transferred during the year as captured from Public Financial Management System (PFMS) portal of the Controller General of Accounts amounts to Rs. 1,38,492.93 crore.

• Debts and Liabilities:

As against the target of outstanding Debt less than 25 per cent of the GSDP, during 2020-21, the outstanding debt of the Government of Maharashtra was 16 per cent of the GSDP.

Liabilities of the State Government increased by Rs. 68,277 crore from Rs. 4,79,899 crore in 2019-20 to Rs. 5,48,176 crore during 2020-21. Public debt comprising internal debt of the State Government and loans and advances from the Central Government increased by Rs. 60,930 crore, i.e. from Rs. 3,67,552 crore in 2019-20 to Rs. 4,28,482 crore at the end of the current year.

• Persistent Savings:

The persistent savings indicated that the budgetary controls in the Departments were not effective and previous years’ trends were not taken into account while allocating the funds for the year. It was noticed that there were persistent savings of more than Rs. 100 crore in 34 cases during the last five years, thereby indicating that either the provisions were in excess or the executive may not have succeeded in implementing the Legislative aspirations.

• Unnecessary/excessive supplementary provisions:

An avoidable extra provision in an estimate is as much a budgetary irregularity as an excess in the sanctioned expenditure. Supplementary provisions aggregating Rs. 13,225.91 crore obtained in 39 cases (Rs. 10 crore or more in each case) during the year proved unnecessary as the actual expenditure (Rs. 1,47,153.43 crore) did not come up to the level of the original provision (Rs. 2,03,835.93 crore).

• Excess expenditure over provision during 2020-21 required regularization:

The excess expenditure over the budget provision during 2020-21 under nine grants/appropriations amounted to Rs. 460.57 crore, which requires regularization under Article 205 of the Constitution of India.

For details, visit: GoM-Accounts-2020-21

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JPS/SC/CY-(Source: Indian Audit and Accounts Department, Office of the Principal Accountant General (Audit)-I, Maharashtra)

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