Maharashtra economy to be hit hard due to coronavirus lockdown, says Sharad Pawar, hails Uddhav Thackeray’s leadership


Nationalist Congress Party President Sharad Pawar on Thursday said the Maharashtra economy will be hit the most as the industrial and trading activities and related transactions were halted because of coronavirus lockdown. He said the similar crisis will prevail in various states and at the national level and the revival of economy will have to be done through dialogue.

Pawar, who had written letter to Prime Minister Narendra Modi on April 25 seeking an additional grant of Rs 1 lakh crore for Maharashtra, at his web address said since last 40 days the industries and trade were closed in the state and there has been job losses during this period.

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Pawar said the state government in its annual budget for 2020-21 had estimated revenue receipts of Rs 3,47,000 crore but as per the revised estimates the expected revenue shortfall would be Rs 1,40,000 crore. This is around 40% of the expected revenues and will have a huge hole in the state finances. NCP chief reminded his letter to PM Modi bringing to his notice the economic crisis in Maharashtra and at the national level because of coronavirus pandemic lockdown.

FPJ has reported that Pawar had also urged PM Modi that the Centre needs to provide a two year moratorium for the repayment of Rs 10,500 crore annually towards the National Small Savings Fund Loan by the Maharashtra government. Further, he also appealed that Centre should resort to deficit financing in the present situation as the borrowing by central government will be much more efficient and cheaper compared to borrowing by the states.

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Pawar admitted that there has been spurt in coronavirus cases in Mumbai, Pune, Jalgaon, Malegaon and Aurangabad. There are large number of cases especially in Mumbai and Pune due to the high density of population. Even though the citizens want to observe social distancing they cannot do it due to space constraints in these two cities,’’ he noted.

Pawar, however, said as the administration has launched massive testing plan the number is increasing. However, not all those are tested are coronavirus patients.

NCP chief hailed the Chief Minister Uddhav Thackeray and his team, the state and district administration, divisional and district administration, civic and local bodies, police and doctors, nurses and paramedics for working 24×7 to curb coronavirus infection.

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