Himachal’s per capita debt over ₹1 lakh: Govt white paper
1 year, 3 months ago

Himachal’s per capita debt over ₹1 lakh: Govt white paper

Hindustan Times  

Himachal deputy chief minister Mukesh Agnihotri on Thursday presented a white paper on the financial condition of the state and said that due to the mess created by the previous Bharatiya Janata Party dispensation, there is a debt of ₹1,02,818 on each person in the hill state. The deputy CM said the former Bharatiya Janata Party dispensation had taken a loan of ₹16,261 crore in the last year of its tenure. The previous government spent the loan on Amrit Mahotsav, Jan Manch, completion of 75 years of the country’s independence and other similar programmes,” he said. Agnihotri said the previous government announced new pay scales and allowances to the tune of ₹10,600 crore for employees in the election year, but neither was money made available for this nor were the liabilities paid off.

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History of this topic

Punjab to borrow more as debt burden mounts
1 month, 2 weeks ago

Punjab to borrow more as debt burden mounts

Hindustan Times  

Amid concerns over rising state debt, the Punjab government has planned to borrow ₹5,000 crore in the third quarter of the current fiscal year. The state government has been on a borrowing spree, raising ₹21,119 crore in the first half of the 2024-25 financial year, which amounts to approximately 70% of the net borrowing of ₹30,464.92 crore projected in the …

Himachal faces financial crisis, ministers not to draw salaries for 2 months
3 months, 3 weeks ago

Himachal faces financial crisis, ministers not to draw salaries for 2 months

India Today  

Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu on Thursday told the state Assembly that all state ministers, chief parliamentary secretaries and Cabinet-rank members won't draw salaries and allowances for two months as the state is undergoing a financial crisis. The state government has implemented five election promises, including Rs 1,500 per month to five lakh women, on which an estimated …

‘Andhra’s debt rose to over ₹9 lakh crore’: Naidu in white paper
4 months, 3 weeks ago

‘Andhra’s debt rose to over ₹9 lakh crore’: Naidu in white paper

Hindustan Times  

Telugu Desam Party president and Andhra Pradesh chief minister N Chandrababu Naidu on Friday alleged that the state’s economy had witnessed a sharp fall in the growth rate from 13.5% to 10.5% during the five-year regime of the previous YSR Congress Party government, resulting in a loss of revenue up to ₹6.94 lakh crore. The chief minister said the state’s …

Ajit Pawar presents interim budget, state debt reaches ₹7.82 lakh crore
9 months, 3 weeks ago

Ajit Pawar presents interim budget, state debt reaches ₹7.82 lakh crore

Hindustan Times  

MUMBAI: Finance minister Ajit Pawar on Tuesday presented a ₹6 lakh crore interim budget with a revenue deficit of ₹9,734 crore. While the government is aiming for a $1trillion state economy, its debt burden has reached ₹7.82 lakh crore after a net borrowing of ₹72,000 crore. The PM has announced welfare schemes for youth, women, the poor and farmers, which …

Karnataka Budget: No tax hike, borrowings cross ₹1 lakh crore in revenue deficit
10 months, 1 week ago

Karnataka Budget: No tax hike, borrowings cross ₹1 lakh crore in revenue deficit

The Hindu  

The total outlay of the Karnataka State budget for 2024-25 is pegged at ₹3,71,383 crore, as against a revised estimate of ₹3,12,708 crore for 2023-24. Karnataka Budget 2024-25: LIVE coverage While the Chief Minister has not increased any taxes, he has presented a revenue deficit budget with the net borrowings crossing ₹1 lakh crore, perhaps for the first time in …

Kerala’s public debt comes down to ₹2.38 lakh crore
10 months, 3 weeks ago

Kerala’s public debt comes down to ₹2.38 lakh crore

The Hindu  

Amid the financial strains that put the Kerala government in a fix making it difficult for it to meet its fiscal obligations efficiently, a document tabled by Finance Minister K.N. Balagopal in the Assembly on Tuesday revealed that the State’s public debt has come down to ₹2.38 lakh crore at the end of March 2022-2023. As per the accounts of …

Tamil Nadu plans to borrow ₹37,000 crore in the last quarter of fiscal 2023-24
11 months, 3 weeks ago

Tamil Nadu plans to borrow ₹37,000 crore in the last quarter of fiscal 2023-24

The Hindu  

The Tamil Nadu government plans to borrow ₹37,000 crore in the fourth quarter of fiscal 2023-24, according to the indicative calendar of market borrowings released by the Reserve Bank of India. So far in fiscal 2023-24, Tamil Nadu’s total tax revenue stood at about ₹1.27 lakh crore, which is 57.27% of the budgeted estimates, according to the provisional figures from …

White Paper of Congress Govt Blames Previous BJP Regime's 'Fiscal Mismanagement' for Himachal's Debt Distress
1 year, 3 months ago

White Paper of Congress Govt Blames Previous BJP Regime's 'Fiscal Mismanagement' for Himachal's Debt Distress

News 18  

With the Congress government in Himachal Pradesh presenting a white paper on the state’s finances, an acrimonious exchange was witnessed between opposition and treasury benches in the assembly after the report indicated a grim fiscal health with the state’s financial liabilities mounting to Rs 92,774 crore. Agnihotri read the report amid a charged atmosphere, while blaming the previous BJP regime …

Off-budget borrowings of Andhra Pradesh government put at ₹79,815 crore, says Centre
1 year, 4 months ago

Off-budget borrowings of Andhra Pradesh government put at ₹79,815 crore, says Centre

The Hindu  

The Central government has said that the off-budget borrowings by the Andhra Pradesh government will be considered as State government loans. Andhra Pradesh government’s off-budget borrowings stand at ₹79,815 crore and the excess over the borrowings by the State government will be adjusted in the subsequent financial years, it has said. Giving a reply to a question raised by TDP …

Data | Five Southern States took off-Budget loans worth ₹2.34 lakh crore in FY21
1 year, 9 months ago

Data | Five Southern States took off-Budget loans worth ₹2.34 lakh crore in FY21

The Hindu  

While tabling the Budget a week ago, Telangana Finance Minister T. Harish Rao accused the Centre of “creating hurdles after hurdles” in the development of the State. Five Southern States — Telangana, Andhra Pradesh, Kerala, Tamil Nadu and Karnataka — accounted for ₹2.34 lakh crore, around 93%, of the total off-Budget liabilities of eleven major States analysed. In almost all …

State’s tax burden shoots up to Rs 3.57 lakh crore
1 year, 10 months ago

State’s tax burden shoots up to Rs 3.57 lakh crore

Deccan Chronicle  

HYDERABAD: The debt burden on the state government will increase to Rs 3.57 lakh crore in 2023-24, according to the Budget. In 2020-21, the debt burden state was Rs 2,44,019 crore, which was 25.4 per cent of GSDP. In 2022-23, the debt burden increased to Rs 3,22,993 crore as per the revised estimates, which was 24.3 per cent of GSDP. …

States may undershoot planned borrowings for Jan.-March: analysts
1 year, 11 months ago

States may undershoot planned borrowings for Jan.-March: analysts

The Hindu  

States may not borrow as much as the record $41 billion they plan to in the January-March quarter, which will help keep the spread between State and central government bond yields in check, analysts said. States plan to sell bonds worth ₹3.41 trillion, the highest quarterly borrowing ever scheduled, in the last three months of the financial year, according to …

West Bengal govt breached loan limit with Reserve Bank, says BJP
2 years, 1 month ago

West Bengal govt breached loan limit with Reserve Bank, says BJP

Firstpost  

Taking to Twitter, Suvendu Adhikari, the BJP MLA from Nandigram urged the Union Finance Ministry to advise the West Bengal government to generate internal revenues by modifying its land policy Kolkata: Suvendu Adhikari, the Leader of the Opposition in West Bengal, today claimed that the state government has “breached its borrowing limit” under the Fiscal Responsibility & Budget Management Act …

Corruption Reflection of Bengal's Economic Decay: BJP Leader And Economist Ashok Lahiri to News18 - News18
2 years, 3 months ago

Corruption Reflection of Bengal's Economic Decay: BJP Leader And Economist Ashok Lahiri to News18 - News18

News 18  

Sample these official budget figures of the West Bengal government for 2022-2023. The state’s total outstanding debt stands at a staggering estimated amount of Rs 5,86,438 crore for the current fiscal. While the state’s budgeted revenue receipts for the current financial year are estimated at Rs 1,98,067 crore, it is expected to receive around Rs 59,916 crore as grants and …

Explained | Kerala’s mounting public debt
2 years, 4 months ago

Explained | Kerala’s mounting public debt

The Hindu  

The story so far: Over the past few months, Kerala’s mounting debt liabilities have been brought into sharp focus with the Reserve Bank of India, the Comptroller and Auditor General, and the opposition Congress-led United Democratic Front flagging the issue. Kerala Infrastructure Investment Fund Board A body corporate constituted by the Government of Kerala to mobilise financial resources outside of …

Tamil Nadu’s borrowing touch ₹82,000 crore in FY2020-21
3 years, 9 months ago

Tamil Nadu’s borrowing touch ₹82,000 crore in FY2020-21

The Hindu  

Tamil Nadu’s market borrowings has touched ₹82,000 crore in FY2020-21, up 37% from ₹59,990 crore in the comparable period last year. On Tuesday, Tamil Nadu raised ₹2,500 crore through re-issue of a 10-year bond also called as State Development Loans. Tamil Nadu, Maharashtra, Uttar Pradesh, Karnataka, Rajasthan and Andhra Pradesh have been the top six borrowing states, accounting for 53% …

Himachal raises ₹1,000 cr loan for development, paying salaries
4 years, 1 month ago

Himachal raises ₹1,000 cr loan for development, paying salaries

Hindustan Times  

To revive economic activity in the state, the Himachal Pradesh government has borrowed ₹1,000 crore to pay salaries of its employees and expedite development projects that have been hit by the lockdown imposed due to the covid-19 pandemic. Last fiscal, around 1.7 crore tourists visited the state; this fiscal, the number has dropped to a trickle at a mere 80,000 …

Government to borrow ₹4.34 trillion in H2 as planned in May
4 years, 2 months ago

Government to borrow ₹4.34 trillion in H2 as planned in May

Live Mint  

NEW DELHI: The central government on Wednesday said it will borrow ₹4.34 trillion in the second half of the fiscal, sticking to its ₹12 trillion borrowing plan for the whole year as decided in May. Economic affairs secretary Tarun Bajaj, at a briefing, said the borrowing target was raised to ₹12 trillion in May from the originally budgeted figure of …

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