Fin experts: Innovative thinking needed
Some experts also believed that the lack of innovative thinking to increase revenue sources is hurting the state's prospects.
Mumbai: Finance experts echoed concerns of the finance commission on the economic condition of the state. They blamed the government for mismanagement of the micro-economic issues and said that a disciplined economic approach is the need of the hour.
Some experts also believed that the lack of innovative thinking to increase revenue sources is hurting the state’s prospects.
Meanwhile, the 15th Finance Commission will be on state visit from Monday. The commission had issued a statement on the economic condition of the state, which had embarrassed the Bharatiya Janata Party-led state government.
“The sharp decline in growth rate of Gross State Domestic Product is worrying. The finance commission has itself said so. This needs to be addressed immediately or the situation will turn critical and hamper development work in the state,” said Hemant Desai, economic expert.
Former MP and economist, Dr Bhalchandra Munagekar, said the state needs to exercise discipline.
“Look at the decline in growth rate. The agriculture sector has failed to show any progress in last four years and now, the industry sector too is dipping. It shows a lack of discipline,” he said.
Chartered accountant and economic expert Ajit Joshi said that new ways to generate revenues are needed. “When your core sectors are running out, what you do? You either tax people heavily or sell land. Maharashtra needs innovative thinking.
Promoting agro-based industry and promoting small and medium scale businesses could be one of the ways out,” said Mr Joshi.