Haryana's debt burden has more than tripled to Rs 81,806 crore (Budget Estimates for 2014-15) since 2005-06 when the Congress led Bhupinder Singh Hooda government came into power.
The debt burden of the state stood at Rs 26,268 crore in 2005-06, as per budget documents which were presented along with the state budget by Haryana Finance Minister Harmohinder Singh Chattha here at state assembly today.
Debt burden of the state was Rs 39,332 crore for 2009-10 when Hooda led government again came into power in 2009.
In the following years, the debt burden of the state stood at Rs 46,443 crore in 2010-11, Rs 50,688 crore in 2011-12 and Rs 60,159 crore in 2012-13.
As per revised estimates for 2013-14, the state's debt liability went up to Rs 70,369 crore while the budget estimates were at Rs 67,772 crore for same fiscal.
The Haryana Finance Minister today projected debt liability at Rs 81,806 crore for 2014-15.
Bhupinder Singh Hooda led state government today presented its last budget as the state is going to elections in the month of October this year.
Chattha in his speech said the permissible limit of debt to GSDP ratio under the FRBM Act is 22.7 per cent for 2012-13, 22.8 percent for 2013-14 and 22.9 per cent for 2014-15.
"Against these our debt to GSDP ratio was 17.43 per cent in 2012-13, 17.91 percent in RE 2013-14, and 18.24 per cent in BE 2014-15. It shows that the state is well within the sustainable debt limit," he said.
As per recommendations of the 13th Finance Commission, the net borrowing limit of the State has been fixed as three per cent of GSDP.
However, during 2011-12 and 2012-13 the actual borrowing was Rs 6,184.81 crore and Rs 8,700.87 crore, respectively against the available borrowing limit of Rs 8,162 crore and Rs 10,115 crore, respectively.
"We are consciously borrowing less than the available limit with a purpose to reduce interest burden on the state exchequer," he said.
