CAG audit on Maharashtra finances points to financial stress, high spend on salaries
Maharashtra's 2022-23 audit report highlights rising debt, high inflexible expenses, heavy reliance on borrowings for capital expenditure, and persistent fiscal stress despite a reduced revenue deficit. Supplementary demands were largely unused. High subsidies continue. SPSUs lag in financial reporting, with few contributing the majority of profits and some incurring major losses. Capital creation funds are squeezed.
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Maharashtra's 2022-23 audit report highlights rising debt, high inflexible expenses, heavy reliance on borrowings for capital expenditure, and persistent fiscal stress despite a reduced revenue deficit. Supplementary demands were largely unused. High subsidies continue. SPSUs lag in financial reporting, with few contributing the majority of profits and some incurring major losses. Capital creation funds are squeezed. 
