Himachal Pradesh is currently facing debt burden of over Rs 46,000 crore

NewsBharati    03-Apr-2018
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Shimla, April 3: Himachal Pradesh is currently facing a tough situation with its debt burden mounting to over Rs 46,000 thousand crores. This was said by Himachal Pradesh Chief Minister Jai Ram Thakur in state assembly on Tuesday.

 

In a written reply, CM Jai Ram Thakur said that the Himachal Pradesh has a debt burden of Rs 46,502.42 crore but the state government cannot manage the finances without raising loans. However, CM Thakur further reiterated his government’s commitment to keep the loans under permissible limits.

He said, “We would also take other measures but ensure that developmental works are not affected." Further giving details, CM Thakur said that the present government had taken a loan of Rs 1,000 crore in three months from 1 January 2018 to March 31 but Rs 735 crore was utilized for repayment of old loans while actual loan liability was only Rs 235 crore.

The Chief Minister also noted that the previous Congress government had taken a net loan of Rs 18,787 crore during its five years tenure. "The loan amount increased dangerously over last five years because of the tendency of previous government to open one institution after another," he added.

CM Thakur also stated that the previous government even exceeded the loan limit in 2013-14 and 2014-15. "Himachal Pradesh is now getting the central funding in 90:10 ratio to be shared by the Union and the state governments after the NDA government took over against a ratio of 60:40 during the UPA rule," CM Thakur added. CM Thakur, in the end, said that the state government will inform the centre about its financial condition and seek financial help to push for developmental projects.