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Chapter 4 Power Sector Status in States CHAPTER 4 POWER SECTOR STATUS IN STATES Data Collection Survey on Power Sector in India Final Report CHAPTER 4 POWER SECTOR STATUS IN STATE 4.1 MAHARASHTRA STATE (MS) Map source: Indian Renewable Energy & Energy Efficiency Database1 4.1.1 Political Situation The Maharashtra legislative assembly elections were held in October 2014. The Bharatiya Janata Party (BJP) came out with an impressive performance gaining 122 out of 288 seats. The Shiva Sena, which gained 63 seats, was the second best party. The Indian National Congress (INC) and the Nationalist Congress Party (NCP) had to settle for 42 and 41 seats respectively. After much reluctance and differences, the two largest parties - BJP and Shiva Sena - reconciled and formed a coalition government in the state. Following the coming together of BJP and Shiva Sena, BJP's Devendra Fadnavis was sworn in as the chief minister of the state, who is the first BJP chief minister of Maharashtra. Result of assembly election is shown in Table 4.1.1-1. 1 http://ireeed.gov.in/ Electric Power Development Co., Ltd. 4-1 Data Collection Survey on Power Sector in India Final Report Table 4.1.1-1 Result of Assembly Election in Maharashtra Party Seats won Vote % Bharatiya Janata Party 122 27.8 % Shiv Sena 63 19.3 % Indian National Congress 42 18.0 % Nationalist Congress Party 41 17.2 % Others 20 17.7 % Total 288 100% source: Election Commission of India2 4.1.2 Economic Situation (1) General The resources, policy incentives, infrastructure and climate support investments in the state. Maharashtra Agro Industries Development Corporation is responsible for development of agro-based units in the state. MIDC is responsible for the development of industrial infrastructure. Maharashtra Small Scale Industries Development Corporation provides new orientation and strength to the development of small-scale industries in the state. The Government of Maharashtra is promoting the development of several Special Economic Zones (SEZs) across Maharashtra for sectors such as IT/ITeS, pharmaceuticals, biotechnology, textile, automotive & auto components, gems & jewelry and food processing. As of 2014-15, the state has 9 operational SEZs, out of which majority are contributed by engineering and electronics segment. Key Industries in Maharashtra - Pharmaceuticals - Biotechnology - IT and ITeS - Electronics - Engineering - Auto & auto components - Oil & gas - Food & agro processing - Gems and jewelry - Banking, financial services and insurance (BFSI) - Textiles 1) Gross State Domestic Product (GSDP) GSDP of Maharashtra State occupies 15.9 % of total GSDP in 33 states in India in 2013-14 and ranked as the largest economy in all states. Decline in agricultural output for two consecutive years has adversely affected rural economy which is highly dependent on agriculture. However, 2 http://eci.nic.in/eci/eci.html, etc. Electric Power Development Co., Ltd. 4-2 Data Collection Survey on Power Sector in India Final Report better performance of Services & Industry sectors has contributed to growth in State economy. At this backdrop, advance estimates of Gross State Domestic Product (GSDP) at constant (2011-12) prices maintained fairly decent growth of 5.6 % over the previous year. The ‘Agriculture & Allied activities’ sector is expected to decline, while, ‘Industry’ and ‘Services’ sectors are expected to grow. GSDP at factor cost is shown in Table 4.1.2-1. Table 4.1.2-1 Gross State Domestic Product at Factor Cost (Constant Price) (unit: Lakh Rs) State 2010-11 2011-12 2012-13 2013-14 2014-15 GSDP 74,204,180 77,560,965 83,529,859 89,676,749 94,754,976 Increase --- 4.5% 7.7% 7.4% 5.6% source: Handbook of Statistics on Indian States, 2016, Reserve Bank of India3 2) Structure of industry (against GSDP) Over 2014, the tertiary sector contributed 61.52 % to SGDP at current prices, followed by the secondary sector (26.82 %). The growth in the secondary sector was driven by manufacturing, construction and electricity, gas & water supply. Agriculture is the major industry in the primary sector, followed by forestry and fishing. Percentage distribution of GSDP is shown in Table 4.1.2-2. Table 4.1.2-2 Percentage Distribution of GSDP for 2014-15 Item Distribution Tertiary 61.52 % Secondary 26.82 % Primary 11.66 % source: IBEF(India Brand Equity Foundation), 2015 (www.ibef.org) (2) Economic Policy / Development Policy Budget 2016-17 of Maharashtra State presents the following policy highlights: - Water resources: Rs 2,000 Crores has been allocated in 2016-17 for the “Farm Pond on Demand” Scheme, with a view to provide for one lakh farm ponds, 37,500 wells and 90,000 electric pumps. - Energy subsidy: Rs 4,462 Crores is proposed to be allocated for the subsidizing of energy tariff for agriculture, power loom, industrial and commercial consumers. Further, for the provision of energy to industries in the Vidharba and Marathwada regions, Rs 1,000 Crores a year has been proposed. - Modernization of infrastructure: 21,000 km of state highways and major district roads is proposed to be modernized under public private partnership over the next eight years. 3 https://rbi.org.in/scripts/OccasionalPublications.aspx?head=Handbook%20of%20Statistics%20on%20Indian%20States Electric Power Development Co., Ltd. 4-3 Data Collection Survey on Power Sector in India Final Report - Ease of transport for women: 300 exclusive “Tejasvini” buses are proposed to be provided for women passengers, with an allocation of Rs 50 Crores in 2016-17. (3) Financial Situation The Maharashtra Fiscal Responsibility and Budget Management (FRBM) Act, 2006 provides annual targets to progressively reduce the outstanding public debt, revenue deficit and fiscal deficit of the state government. - Revenue deficit: It is the excess of revenue expenditure over revenue receipts. A revenue deficit indicates the need for the government to borrow on expenses which do not create assets. The government has estimated a revenue deficit of Rs 3,645 Crores in 2016-17. In 2015-16, the government has revised its revenue deficit to Rs 9,290 Crores, which is 147% higher than the budgeted target of Rs 3,757 Crores. This is driven by increase in spending on relief to natural calamities. - Fiscal deficit: It is the excess of total expenditure over total receipts. This gap is filled by borrowings by the government, and leads to an increase in total liabilities of the government. The government had projected a fiscal deficit of Rs 35,031 Crores (1.6% of GSDP) in 2016-17. This is a decline from a fiscal deficit of Rs 37,950 Crores (1.93% of GSDP) in 2015-16. The expected fiscal deficit of 1.59 % of GSDP for 2016-17 is well within the limit of 3 % of GSDP set by the FRBM Act, 2005 and also well within the limit of 2.8 % of GSDP set by the 14th Finance Commission (FC). - otal Debt Stock: It is the accumulation of borrowings over the years. In 2016-17, the outstanding public debt is expected at 16.15 % of the GSDP, which is a slight decrease from 16.26 % in 2015-16, in line with the declining trend over the past years. Transition of fiscal management is shown in Table 4.1.2-3. Table 4.1.2-3 Transition of Fiscal Management (Percent) Item 2013-14 2014-15 2015-16 2016-17 Target for 2016-17 Revenue deficit / GDP -0.34 -0.68 -0.47 -0.17 0.00 Fiscal deficit / GDP -1.72 -1.78 -1.93 -1.59 -3.25 Total debt stock / GDP 17.84 16.62 16.26 16.15 22.64 source: Medium term Fiscal Policy, Maharashtra 2016-20174 (4) Foreign investment Maharashtra Chief Minister Devendra Fadnavis announced in September 2015, to set up a 'Japan Desk', a one-stop shop in the state for all Japanese companies for the purpose of inviting more investment from Japan. He also mentioned that his government was trying to set up Japanese Industrial Park at Supa with the help of Japan External Trade Organization (JETRO). 4 https://finance.maharashtra.gov.in/sitemap/finance/pdf/FRBM/FRBM_1617.pdf Electric Power Development Co., Ltd. 4-4 Data Collection Survey on Power Sector in India Final Report 1) Transition of FDI Foreign Direct Inflow (FDI) equity inflows received by RBI’s regional office in Mumbai, which covers states/union territory of Maharashtra, Dadra & Nagar Haveli, and Daman & Diu, is as shown in Table 4.1.2-4. The amount has been increasing steadily. Table 4.1.2-4 Transition of DFI Unit: Crore Rupees (US$M) Cumulative Percentage of Year 2013-14 2014-15 2015-16 (2000-2016) total inflow Amount 20,595 38,933 62,731 415,753 29% (3,420) (6,361) (9,511) (82,629) source: Fact Sheet on Foreign Direct Investment, Dept. of Industry Policy and Promotion5 2) Transition of Japanese Firm in the state Number of office established by Japanese firms in the state is shown in Table 4.1.2-5. Table 4.1.2-5 Transition of Japanese Firms Year 2011 2012 2013 2014 2015 Number 218 277 395 625 712 source: Embassy of India in Japan6 4.1.3 State Budget and Financial Situation of Executing Agency (1) State Budget for Power Sector7 Budget 2016-17 of Maharashtra State provides the following key highlights for the power sector: - A new scheme has been announced for the upgradation and modernization of the electricity distribution system in 120 zones in the state with an allocation of Rs. 300 Crores. - Rs.784 Crores has been allocated for investment in the energy sector in the state, in order to increase capacity - Rs.456 Crores is proposed to increase the capacity of renewable energy sources. Table 4.1.3-1 shows department-wise plan outlay for budget 2016-17.
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