Debt-to-GSDP ratio goes up in state: CAG
Hindustan Times Haryana|December 22, 2024
THE STATE GOVT'S PUBLIC DEBT INCREASED MAINLY DUE TO AN INCREASE IN INTERNAL DEBT (ESPECIALLY INCREASE IN BORROWINGS FROM MARKET)
Umesh Raghuvanshi

LUCKNOW: The Comptroller and Auditor General (CAG) has expressed concern over the increasing tendency to borrow funds, which has led to an upward trend in the debt-to-Gross State Domestic Product ratio in the past few years in Uttar Pradesh.

Uttar Pradesh's debt-to-GSDP ratio increased from 23% in 2019-20 to 26 per cent in 2023-24. The state's total public debt was ₹6,67,106.03 crore as on March 31, 2024.

This includes an outstanding debt of ₹6,14,778.94 crore from the market and different financial institutions and ₹52,327.09 crore from the Centre.

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