ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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MAHARASHTRA-Non-Congress, Non-Maratha

in 1995-96. In 1994-95, the shortfalls in market and other long, medium and short- term borrowings and in disinvestment of equity holdings by the government was compensated for by the net accrual to the centre of Rs 4,351 crore (against the budgeted amount of Rs 848 crore) under small savings. The cost of borrowings would also be much higher during 1995-96 than in the previous year; the interest rates on government borrowings have been kept down during 1994-95 because the government has been able to mop up the surfeit of liquidity artificially created out of the portfolio capital inflow from abroad. The money market has already started experiencing stringency which is likely to persist during 1995-96. The provision of interest payments has been brought down as between the budget and revised estimates of crore or from 53.4 per cent of the centre's

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