Bhubaneswar: Odisha’s loan burden stood at Rs 87626.61 crore by the end of January in the financial year 2022-23 and the per capita loan stands at Rs 19,825.02, informed Finance Minister Niranjan Pujari in the State Assembly today.
Responding to a query from Congress Member Tara Prasad Bahinipati, Pujari outlined the following measures being taken by the State government for reducing the loan burden of the State.
a.) By creating surplus revenue to reduce dependence on loans.
b.) From financial year 2006-07 to 2013-14 and from 2021-22 till date no loans have been taken from the open market.
c.) High interest rate loans have been repaid in advance.
d.) From financial year 2016-17 till date the State has not taken any loan from National Small Savings Fund (NSSF).
e.) Implementation of the Fiscal Responsibility and Budget Management Act, 2005 by the State government following the 12th Finance Commission’s recommendation and successful financial management, the Central government has exempted repayment of loans amounting to Rs 1909.50 crore in total at rate of Rs 381.90 crore per annum from 2005-06 to 2009-10.
f.) Following recommendation of the 13th Finance Commission, the State government by amending the Fiscal Responsibility and Budget Management Act, 2005, got exemption from repayment of loan amounting to Rs 139.36 crore against various schemes from financial year 2011-12 to 2020-21.
