Gujarat Debt

On Wednesday, Nitin Patel had presented a Rs 2,17,287 crore state budget for 2020-21, with healthy allocations to education, health and agriculture sectors

Gujarat state's debt has increased by 46 per cent between 2012-13 and 2016-17 to stand at Rs 2.43 trillion by the end of March 31, 2017, as per the latest Comptroller and Auditor General (CAG) report tabled in the assembly. The debt of the state increased from Rs 1.66 trillion in the year 2012-13 to Rs 2.43 trillion in 2016-17, CAG said in its report. The interest outflow during the same period too increased from Rs 121.61 billion to over Rs 177.97 billion, with Gujarat paying Rs 745.36 billion in interest during these five years, about 16.40 per cent of revenue receipts.The report was tabled in the Gujarat Assembly by deputy chief minister Nitin Patel, who also holds charge of finance ministry, on Wednesday, the last day of the Budget session.Further, in terms of interest on its debt, Gujarat paid an average of 7.68 per cent while it earned a meager 0.21 per cent on its investments of over Rs 770 billion made in various financial instruments.As per the report, Gujarat's pension ...