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MUMBAI: The cash-strapped Maharashtra govt, which is struggling to balance its resources while trying to fulfil poll promises, has recommended that the National Cooperative Development Corporation (NCDC) extend loans worth Rs 1,104.6 crore to nine cooperative sugar factories, most of which are linked to parties in the governing Mahayuti alliance. Loans from the NCDC require a state guarantee, which will add to the state’s liabilities.
Cooperative sugar factories are closely linked to the rural economy and a network of farmers, a reason why they are politically significant.
However, Maharashtra faces a staggering debt of over Rs 7.8 lakh crore owing to sops announced in the pre-poll budget.
Indeed, in the run-up to the elections, the state finance department said the state’s fiscal deficit was around Rs 2 lakh crore and would not be possible to fill.
The recommendations for NCDC loans were originally sent last year, and this is a revised proposal, said sources. The proposal is for margin money loans to meet the working capital gap of the factories.
Govt has recommended a loan of Rs 188.5 crore for Sharad Cooperative Sugar Factory in Kolhapur, linked to MLA Rajendra Patil Yadravkar, who supports Mahayuti. It also recommended a Rs 39 crore loan for Ajinkyatara Cooperative Sugar Factory in Satara, linked to PWD minister Shivendrasinh Raje Bhosale of BJP.
It also backed an NCDC loan of Rs 139 crore for Sadashivrao Mandlik Cooperative Sugar Factory in Kolhapur’s Kagal taluka linked to former MP Sanjay Mandlik from Shiv Sena. Chhatrapati Rajaram Cooperative Sugar Factory in Kolhapur’s Karveer taluka, linked to BJP MLA Amal Ma- hadik, cousin to MP Dhananjay Mahadik, was also picked for a loan of Rs 165 crore.
The state also recommended a loan of Rs 153.4 crore to Kumbhi Kasari Cooperative Sugar Factory in Kolhapur’s Karveer taluka, linked to Shiv Sena MLA Chandradeep Narke, and Rs 114 crore for Sahakar Maharishi Shankarrao Kolhe Cooperative Sugar Factory in Ahmednagar linked to BJP functionary Vivek Kolhe. Shri Ganesh Cooperative Sugar Factory in Ahmednagar, linked to Congress functionary Balasaheb Thorat and BJP’s Kolhe, was recommended for a Rs 74 crore loan.
Besides, Vasantrao Desai Ajara Cooperative Sugar Factory in Kolhapur has been recommended for a loan of Rs 122.7 crore. This is linked to supporters of NCP leader and medical education minister Hasan Mushrif. Sant Shiromani Maruti Maharaj Cooperative Sugar Factory in Latur has been recommended for an NCDC loan of Rs 109 crore.
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