Nagpur: While accepting that the state loan may touch the ₹ 4.64 lakh crore figure before the next budget, Minister of State for Finance, Deepak Kesarkar on Monday claimed that release of only 70% of the allotted money for the district schemes does not amount to a cut in funding. More money will be released if targets are met, he added.Mr. Kesarkar was replying to a question on funding for the farm loan waiver scheme in the Council. Replying to Peasants and Workers Party’s (PWP) MLC, Jayant Patil, on whether the central government is extending any helping hand to the scheme to raise over ₹ 34,000 crore for the scheme, Mr. Kesarkar said that the centre is not providing any financial assistance for the scheme and the state will be raising the money on its own.“The government has made the provision of ₹34,000 crore through supplementary demands; but does the government have that much money in reality? Is the government planning to avail loan at a time when the state’s loan is is continuously on the rise?” asked Nationalist Congress Party (NCP) MLC, Sunil Tatkare NCP).Mr. Kesarkar replied that though the loan amount is on the rise, and may touch up to ₹4.64 lakh crore, the Gross State Domestic Product (GSDP) allows up to ₹6.19 lakh crore to be raised. “We are within the limits prescribed by the Centre,” he said. Mr. Tatkare alleged that the cuts of 30% to district planning schemes proves that the state is in a shambles on the economic front.“We have not enforced any cuts; will release the remaining money (30%) whenever required and if earlier targets of expenditure are met,” the Minister said.The opposition claimed that the ‘savings’ of the state claimed by the government are in reality cuts on expenditure and have nothing to do with financial discipline. “This government has been presenting supplementary demands of thousands of crores, much more than what we did. Our actions were labelled at financial indiscipline, then shouldn’t the BJP’s handling of financial matters be termed as indiscipline,” Mr. Tatkare wanted to know.