"The White paper will be out before the Budget session of state legislature and will deal with the huge debt of over Rs 3 lakh crore... the state government is paying Rs 63 crore towards interest per day," Mungantiwar said addressing meet-the-press programme here.

"There are many unanswered questions on whether the loan meant for a particular project was properly utilised, wasthere any criminal expenditure (involved), how much employment opportunities were created," the senior BJP leader said.

Mungantiwar also clarified the white paper will not be "a tool of vengeance" against any individual or party to settle political scores, but to know the actual financial status.

He said the Finance Ministry is reviewing the status and performance of more than 1,200 schemes of the state government.

"All the heads of the departments have been asked to prepare a status report on their schemes by June next," Mungantiwar said.

He said his ministry has issued directives to all departments to avoid the last minute rush to spend the remaining budgetary funds in the month of March, before the end of the fiscal year.

"They will have to finish 85 percent of the provisions before March and only remaining 15 percent will be allowed to be utilised in March," the minister said.     

Mungantiwar said he would visit every district to streamline the administration. "I will hold meetings with local representatives, top functionaries of civil bodies like municipal corporation."

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