Maharashtra is the second largest State in India, both in terms of population and geographical area. The State has shown higher economic growth in the past decade as the compound annual growth rate of its Gross State Domestic Product (GSDP) for the period 2001-02 to 2010-11 has been 15.87 per cent as compared to 14.68 per cent in General Category States. Despite this, the population below the poverty line in Maharashtra is much higher than the average of General Category States. During the above mentioned period, its population grew by 15.99 per cent against 17.56 per cent in General Category States. The per capita income compound annual growth rate in Maharashtra (12.51 per cent) has been higher than that of the General Category States (11.32 per cent) in the current decade. Per capita GSDP income/ contribution during 2010-11 was second highest as compared to the average of other General Category States. The State has higher urban inequality when compared to the all-India average.
This Report on the Finances of the Government of Maharashtra is being brought out with a view to objectively assess the financial performance of the State during 2010-11 and to provide the State Government and State Legislature with timely inputs based on audit analysis of financial data. In order to give a perspective to the analysis, an effort has been made to compare the achievements with the targets envisaged by the Maharashtra Fiscal Responsibilities and Budgetary Management (MFRBM) Act, 2005 and in the Budget Estimates of 2010-11.
Based on the audited accounts of the Government of Maharashtra for the year ended March 2011, this Report provides an analytical review of the Annual Accounts of the Government. The Report is structured in three Chapters
Chapter I is based on the audit of Finance Accounts and makes an; assessment of the Maharashtra Government's fiscal position as on 31 March 2011. It provides an insight into trends of committed expenditure and borrowing pattern, besides giving a brief account of Central funds transferred directly to the State implementing agencies through the off-budget route.
Chapter II is based on audit of Appropriation Accounts and gives a grant-by-grant description of appropriations and the manner in which the allocated resources were managed by the service delivery departments.
Chapter III is an inventory of the Maharashtra Government's compliance with various reporting requirements and financial rules. The report also compiles the data collated from various Government departments/ organisations in support of the findings.