Kelkar‑led committee tasked with modernising tax system and cutting deficits

Maharashtra’s chief minister announced a new initiative to tackle mounting fiscal pressures by setting up the Maharashtra Sustainable Public Finance Committee. Chaired by Dr Vijay Kelkar, the panel brings together senior administrators and economists to devise strategies for sustainable tax and non‑tax revenue growth. Their brief includes updating the tax architecture, plugging revenue gaps, and rationalising fee structures and exemptions. Additionally, the committee will identify novel revenue avenues, maximise returns from public assets and government corporations, and propose reforms to balance rising wage, pension, interest and welfare outlays. The overarching goal is to reduce dependence on borrowing for infrastructure and budgetary shortfalls, thereby adhering to the Fiscal Responsibility and Budget Management (FRBM) framework. The committee’s work supports the "Developed Maharashtra 2047" vision, which charts a path to a $5 trillion economy by the state’s centenary of independence.