Wednesday, July 15, 1998
Maharashtra plan to cut expenses
The Maharashtra Government has decided to trim the fat and buckle up on expenses by preparing an umbrella plan to maintain financial discipline. Among a series of austerity measures, the cash-starved government will impose a 10% cut on non-plan expenditure to mobilise an additional Rs 2,000 crore for on-going developmental schemes.
Maharashtra hikes "sensitive" water cess for irrigation, industries
The Maharashtra government today touched a raw nerve among the battered farmers of the State by announcing an increase in the water cess for irrigation and industrial usage from Rs 1,750 per hectare to Rs 2,625. In a decision which could have far-reaching political implications, State Chief Minister Manohar Joshi said the exercise would mop up Rs 80 crore in additional revenue.
Cyclone costs insurance cos Rs 1,200 cr
The devastation in coastal Gujarat caused by the cyclone will cost the insurance companies over Rs 1200 crore. The General Insurance Corporation and its four subsidiaries have arrived at this figures based on claims served on them. While Rs 31 crore worth of claims have already been settled by the companies, officials are confident that another Rs 170 crore from exporters will be settled by the end of this month.
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