UP public debt set to rise with higher borrowings to fund mega projects

UP public debt likely to hit Rs 4.55 trillion in 2018-19

Higher borrowings by the Yogi Adityanath government to fund mega infrastructure projects are likely to push aggregate Uttar Pradesh public debt to about Rs 4.55 trillion in the current fiscal. 

This would be almost 3% higher than the estimates for the current year in 2018-19 UP Budget tabled in February 2018, which had pegged public debt at Rs 4.43 trillion. However, facing resources crunch, the state has now decided to fund the proposed Purvanchal Expressway through bank loan as against the earlier plan to finance it through budgetary allocation. 

Meanwhile, the state's total borrowings from financial institutions would also rise by over