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World Bank to help Maharashtra speed up reforms

Our Correspondent in Bombay

Satisfied with Maharashtra's effort to streamline its economy, the World Bank is keen to help the state accelerate economic reforms.

Maharashtra Chief Minister Vilasrao Deshmukh and World Bank country director Edwin Lim had talks on this matter in New Delhi during the latter's visit here recently.

The World Bank has expressed its desire help Maharashtra expedite multilateral reforms, sources said.

Lim said that the World Bank would soon send a delegation to Maharashtra to take stock of the state's economic reforms and changes in the energy sector. This will be followed by another round of discussions in August next to decide on the lending assistance to Maharashtra.

The state chief minister informed the World Bank officials about the steps that his government had taken to regulate expenditure, complete ongoing projects, stretch the tax net further and infuse transparency in the formulation of the state budget.

Lim was also told about the need for timely assistance to Maharashtra as it would result in obtaining desired results.

Meanwhile, the state's finance minister solicited a World Bank component of Rs 18.36 billion for executing the rural water supply schemes for which a proposal has already been forwarded.

The World Bank officials were also apprised of the changes that Maharashtra has effected in the energy sector. Deshmukh informed Lim that the Godbole committee report on restructuring MSEB will be ready on July 10 and the state will then take a decision on the Dabhol Power Company issue.

Also present at the meeting were the state's Finance Minister Jayant Patil, Minister for Labour Satish Chaturvedi, Minister for Law and Judiciary Vilas Patil and chief secretary to the Government of Maharashtra V Ranganathan at the meeting with World Bank officials.

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