TS debt burden soars over Rs 2 lakh crore
Telangana State’s debt burden is reaching an alarming level.
Hyderabad: Telangana State's debt burden is reaching an alarming level. State public debt outstanding has been estimated at Rs 2,03,730.10 crore, which is almost 60 per cent higher than the total budget outlay of Rs 1.46 lakh crore in the current financial year of 2019-20.
As per the official figures projected in the budget 2019-20 proposals presented by Chief Minister K Chandrashekar Rao in the Assembly on Monday, the total debt is expected to reach a whopping Rs 2.03 lakh crore which is 21.39 per cent of the Gross State Domestic Product (GSDP).
The State's debt burden in 2018-19 was 1.79 lakh crore and in 2017-18 it was 1.51 lakh crore. Rs 1.27 lakh crore debt was reported in 2016-17 and in 2015-16 it was 93,115 crore.
According to sources, the reason for increasing debt burden was that the State government is seeking more open market loans. The government projected the open market loans will increase to Rs 1.63 lakh crore from Rs 1.38 lakh crore in 2018-19. On an average, Telangana government was seeking more than Rs 30,000 crore open market loans for the four three years.
The government was also getting loans from Central government and special securities (small savings) and provident funds.
The government projected Rs 9,457 crore as loans from centre, Rs 12,391 crore as loans from autonomous bodies and Rs 18,813 crore funds will be mobilised through special securities like small savings and provident funds.