Bhubaneswar: Odisha has a total debt outstanding of Rs 88,487.11 crore as on 31st July 2023, informed Finance Minister Bikram Keshari Arukha in the Odisha Assembly today.
The Finance Minister revealed this in a written reply to a question by BJD member from Bhandaripokhari Prafulla Samal.
The Minister shared in his reply that the debt outstanding of the State government as on 31st July this year stood at Rs 21364.63 crore with Government of India, Rs 5465.57 crore with NSSF, Rs 19,558.07 with Open Market, Rs 19558.07 crore with NABARD, Rs 1.28 crore with GIC, Rs 579.70 crore with SCDF, Rs 247.93 crore with REC & Others, and 23254.21 crore from GPF.
Arukha stated that Odisha is being considered as a revenue surplus State from the 2005-06 financial year.
He said that the State government requires additional resources/finance for investment through different schemes for capital creation and capital structuring. The requirement of funds is fulfilled through surplus revenue and loans from various sources which lead to fiscal deficit, he explained.
Arukha informed that the fiscal deficit during fiscal 2005-06 was 0.32% and 1.99% in 2022-23 and is 3.00% in 2023-24 (Budget Estimates).
This is well within the stipulated 3.00% limit of the Odisha Fiscal Responsibility and Budget Management Act, 2005, he added.
He said that as per the Auditor General, Odisha by the close of the 2022 -23 fiscal, the State’s total loan burden was Rs 88,164.82 crore and per capita loan burden was Rs 19,992.
