Uttar Pradesh govt's public debt estimated to touch Rs 7.84 trillion

The estimated public debt of Rs 7.84 trillion exceeds the UP Annual Budget of Rs 6.90 trillion by Rs 94,000 crore or nearly 14 per cent

Even as the Reserve Bank of India (RBI) has been warning against the state’s rising debt burden, the public debt of Uttar Pradesh is estimated to touch Rs 7.84 trillion in the next fiscal year 2023-24. 

Although UP’s debt burden has fallen to 32.1 per cent of the Gross State Domestic Product (GSDP) in 2023-24 compared to 34.2 per cent in Revised Estimates for 2022-23, in absolute terms the sovereign debt has jumped from Rs 7 trillion to Rs 7.84 trillion during the period. 

According to the UP Annual Budget, the nominal UP Gross State Domestic Product (GSDP) has been