Nashik, Dec 28 (ET): Chief minister Devendra Fadnavis on Friday said the state was facing an acute financial crunch and feared that his government might be compelled to take loans to pay the salaries of its employees.
Addressing a convention of the employees' union of three state electricity companies in Nashik, Fadnavis said, "The state is reeling from an acute financial crunch. The financial crisis was handed over to the present government by its predecessor.
We are trying to find ways to come out of it. It is a difficult situation. We are trying our best, but we fear the government may have to take a loan to clear the salaries of it employees."
The chief minister said the state's coffers were not only empty but in fact there was a loan worth Rs 3.5 lakh crore that the present government inherited from its predecessor.