Maharashtra's pre-budget welfare schemes not to dent state finances: Icra
Maharashtra government is unlikely to dent the state's financial position, a domestic rating agency said. Icra Ratings' chief economist Aditi Nayar also expects that there will not be a «runaway increase» in spending even though the «rhetoric may be very high».
She explained that Maharashtra fares well on the state debt front, and the leverage levels are among the lowest in the country.
Concerns have been raised in the recent past over schemes like the Rs 46,000-crore Ladki Bahin Yojana of providing cash handouts to women or the decision to discontinue tolls for cars while entering or exiting the financial capital.
The rating agency's assistant vice president Neetika Shridhar said Maharashtra has a sizeable amount of fiscal space because it has not been doing a lot of welfare spending in the last few years, which can limit the sacrifices that it may have to make to accommodate the financial pressure coming from new schemes.
«I don't think so because of this recent announcement there will be any major hit to the state, at least in FY25,» she added.
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