Vote for BJP in urban local bodies" poll for "triple engine" govt in UP: Adityanath

UP: Man booked for attempting to rape 5-year-old girl

Congress to mark 100 days of Bharat Jodo Yatra with concert in Jaipur

BJYM, Hindu outfits put off planned protest march at AMU

Karachi battles gas crisis; residents face unannounced load shedding, 2-hr gas supply in a day

Elderly man in judicial custody dies during treatment in UP hospital

Himachal Pradesh skittle Haryana for 46, take 200-run lead on Day 1

Pak court grants protective bail to PM Shehbaz"s son Suleman in money laundering case

British Library celebrates India ties with exhibition on Hampi

Nine policemen suspended after suspect dies in police custody in UP

Gangster"s property attached in UP"s Pratapgarh district

Maoists torch construction company vehicles in Jharkhand’s Chatra district

Sino-India border situation "generally stable": China on Yangtse clash

Babar Azam not taking advice from seniors, claims Shahid Afridi

Qlite Global launches their exclusive Grand Experience Centre

"Disillusioned with central leadership": Sikkim BJP president says he has resigned

2001 attack anniversary: Ready to guard new Parliament if directed, say CRPF heroes

Class 2 student dies after scuffle with fellow students in UP

Three killed in accident in UP"s Lakhimpur KheriLakhimpur Kheri (UP), Dec 13 (PTI) Three motorcycle borne youths were killed and "

Abandoned girl child from Assam adopted by Spanish professor

Home >> Bhubaneswar

Odisha’s debt burden to touch Rs 88,000 crore by end of current fiscal

| Thursday | 7th February, 2019

BHUBANESWAR: The state’s debt burden is expected to touch a new high; it is estimated to be around Rs 87,650 crore by the end of the current fiscal (March 31, 2018). Our debt burden has not even touched 20 per cent of the GSDP. So, Odisha has shown good fiscal parameters,” said Meena.The state’s GSDP by the end of 2018-19 is estimated to be around Rs 4.86 lakh crore. We have also performed well on interest payment. This may increase to Rs 5.40 lakh crore by the end of the 2019-20 financial year.The GSDP is defined as a measure, in monetary terms, of the volume of all goods and services produced within the boundaries of the state during a year.The debt stress of the state had been brought down to 17.8 per cent of GSDP in 2017-18 from the level of 50.7 per cent of the GSDP in 2002-03, said sources in finance department.To meet the budget expenditure, the state government has aimed to go for open market borrowing of Rs 14,650 crore, Rs 4,750 crore from agencies like Nabard and Rs 1400 crore form externally aided projects during the 2019-20 fiscal.

BHUBANESWAR: The state’s debt burden is expected to touch a new high; it is estimated to be around Rs 87,650 crore by the end of the current fiscal (March 31, 2018). This is 18 per cent of the gross state domestic product (GSDP).Similarly, the debt stock by the end of the 2019-20 financial year was expected to be around 1.03 lakh crore, said finance department sources.This was informed by the state finance secretary Ashok Meena during a press conference here on Thursday, after finance minister Shashi Bhusan Behera presented the vote-on-account for the first four months of the 2019-20 fiscal.The state government borrows from national and foreign financial agencies to invest on infrastructure development and asset creation.Sources in the state finance department said Odisha’s debt burden by December 2018 was estimated to be Rs 79,789 crore, which amounts to 16.4 per cent of the GSDP.“The debt burden should be kept within 25 per cent of the GSDP. Our debt burden has not even touched 20 per cent of the GSDP. We have also performed well on interest payment. So, Odisha has shown good fiscal parameters,” said Meena.The state’s GSDP by the end of 2018-19 is estimated to be around Rs 4.86 lakh crore. This may increase to Rs 5.40 lakh crore by the end of the 2019-20 financial year.The GSDP is defined as a measure, in monetary terms, of the volume of all goods and services produced within the boundaries of the state during a year.The debt stress of the state had been brought down to 17.8 per cent of GSDP in 2017-18 from the level of 50.7 per cent of the GSDP in 2002-03, said sources in finance department.To meet the budget expenditure, the state government has aimed to go for open market borrowing of Rs 14,650 crore, Rs 4,750 crore from agencies like Nabard and Rs 1400 crore form externally aided projects during the 2019-20 fiscal.

If You Like This Story, Support NYOOOZ

NYOOOZ SUPPORTER

₹ 10 - ₹ 1000

NYOOOZ FRIEND

₹ 2000 - ₹ 5000

Your support to NYOOOZ will help us to continue create and publish news for and from smaller cities, which also need equal voice as much as citizens living in bigger cities have through mainstream media organizations.

Stay updated with all the Latest Bhubaneswar headlines here. For more exclusive & live news updates from all around India, stay connected with NYOOOZ.