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Telangana debt vaults 50 per cent
The outstanding public debt of Telangana State Government has gone up by more than 50 percent since 2014-15. The outstanding debt that was Rs 83,845.78 crore in 2014-15 has gone up to Rs 1,23,821.49 crore in 2016-17. Of this the highest increase has been from open market loans which have gone up by about 60 percent. In 2014-15, the open market loans were Rs 56,399.96 crore. It has now gone up to R
Hyderabad: The outstanding public debt of Telangana State Government has gone up by more than 50 percent since 2014-15. The outstanding debt that was Rs 83,845.78 crore in 2014-15 has gone up to Rs 1,23,821.49 crore in 2016-17. Of this the highest increase has been from open market loans which have gone up by about 60 percent. In 2014-15, the open market loans were Rs 56,399.96 crore. It has now gone up to Rs 93,284.40 crore.
This indicates that the debt servicing will increase. It also means that the spending by the government is being financed from market borrowings. However in terms of percentage of GSDP, the increase in borrowings is marginal. The outstanding debt in 2014-15 in terms of percentage was 16.06 percent as per the budget estimates 2016-17 is 18.46 percent.
The loans taken from Central Government in 2014-15 was Rs 8,192.76, loans from autonomous bodies it was 2,288.01, Rs 16,965.05. The total borrowings were to the tune of Rs 83,845.78. By 2016-17, these loans have gone up to Rs 9184.55, Rs 4,338.94 and Rs 17,013.60 crore respectively.
Referring to the debt management, Finance Minister Eatala Rajender in his statement on fiscal policy said the main objective of debt management in the state was to ensure that the financing of the budget and refinancing of the debt was done at the lowest possible cost in medium to long term, all within prudent limits of risk.
He said to promote economic development and to increase investments in lasting and productive assets, efforts will be made to supplement the resources of the State Government through additional cushion recommended by the 14th Finance Commission.
At the same time the possibilities of raising money through budgetary sources will also be explored to supplement the resources of the state for investments in capital assets. Thus the strategy is to explore raising borrowing for productive investments within prudent limits, he added.
