"It is a cause of serious concern as the state is dangerously heading towards bankruptcy," the Congress leader said while addressing public meetings here in support of party candidates contesting the forthcoming block Samiti and Zila Parishad elections.
"The state debt according to its own Finance Minister was likely to cross Rs one lakh crore by the end of this financial year and it is continuously increasing at an alarming rate."
"The results of this financial mess are obvious as there is no development worth its name on ground level. Any development that is showing up is carried out on the grants given by the Government of India under various flagship programmes," he said.
Every year, the SAD-BJP government was borrowing over Rs 13,000 crore, out of which Rs 11,500 crore was being spent on debt servicing, Tewari said.
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Of about Rs 13,000 crore borrowed every year, Rs 7,600 crore was paid as interest, while Rs 4,000 crore was used to repay the borrowed amount, he said.
Referring to the 2013 state budget figures, he said, the fiscal debt till March 31, 2013 was Rs 86,453 crore and it was to go to Rs 95,670 crore by next fiscal.
"Given the rate at which the state is borrowing, by the end of the term of this government, the total debt will cross Rs one lakh fifty thousand crores which will be impossible to be paid by any government," he said.