Finance and Appropriation Accounts of Government of Maharashtra for 2024-25

**Executive Summary** This report summarizes the Finance and Appropriation Accounts of the Government of Maharashtra for the financial year 2024-25, which were tabled in the State Legislature on December 14th, 2025. It details the state's financial position, including receipts, disbursements, and fiscal outcomes, comparing them to established targets. The report highlights key aspects such as the revenue and fiscal deficit, public debt, personal deposit accounts, and loan management. **Key Points / Main Content** * **Fiscal Performance:** * The State of Maharashtra reported a revenue deficit of ₹29,995 Crore, failing to meet the target under the Maharashtra Fiscal Responsibility and Budget Management Act, 2005. * The fiscal deficit was ₹1,24,209 Crore, or 2.74% of the Gross State Domestic Product (GSDP) of ₹45,31,518 Crore, remaining within the permissible limit. * **Public Debt:** * Public debt increased by 16.69% to ₹7,11,960 Crore in 2024-25. * Utilization of public debt receipts for debt servicing decreased from 64% to 61%, indicating improved debt management. * **Personal Deposit (PD) Accounts:** * As of March 31st, 2025, the balance in all Personal Deposit (PD) accounts was ₹16,676 Crore. * Out of 1,174 PD accounts, 328 accounts were reconciled, with verification certificates submitted. * **Receipts and Disbursements:** * Total receipts for the year amounted to ₹6,06,809 Crore, with ₹4,81,906 Crore from revenue receipts and ₹1,24,903 Crore from capital receipts. * Total disbursements were ₹6,06,809 Crore, including ₹5,11,901 Crore in revenue expenditure and ₹82,773 Crore in capital expenditure. * **Loans and Borrowings:** * The State raised ₹2,95,140 Crore in loans, including ₹1,30,849 Crore from internal debt, ₹12,786 Crore from Government of India loans, and ₹1,51,505 Crore from other obligations. * The State discharged ₹1,68,545 Crore in loans, with ₹40,440 Crore for internal debt repayment, ₹1,366 Crore for Government of India loans, and ₹1,26,739 Crore for other obligations. **Impact Analysis** **State Legislature:** * **Impact:** The State Legislature has been presented with the financial accounts, providing them with a detailed overview of the state's financial performance for 2024-25. * **Action Required:** Review and analyze the presented accounts to inform future budgetary decisions and ensure fiscal responsibility and compliance. **Government of Maharashtra:** * **Impact:** The report reflects the financial performance of the Government, highlighting areas of success and areas requiring improvement. * **Action Required:** Address the revenue deficit, improve debt management, and ensure proper reconciliation of Personal Deposit accounts. **Principal Accountant General (A&E)-I, Mumbai, and Comptroller and Auditor General of India:** * **Impact:** Their work in preparing and supervising the accounts is essential for providing a detailed and reliable snapshot of the state's finances. * **Action Required:** Continue to uphold rigorous accounting standards and provide accurate and transparent financial information. **Treasury Officers:** * **Impact:** Their participation in reconciling PD accounts and submitting verification certificates. * **Action Required:** Continued to ensure the proper and accurate reconciliation of accounts.

Key Entities Referenced