Business: Telangana’s outstanding public debts to touch Rs 3.30 lakh cr

Hyderabad, March 8 (IANS) Telangana’s outstanding public debt is set to touch Rs 3.30 lakh crore during 2022-23.

The state budget presented in the Assembly on Monday reveals that the public debt will mount to Rs 3,29,988 crore from Rs 2,85,120 crore during 2021-22.

Budget estimates show that state will raise debts to the tune of Rs 44,868 crore during the financial year. Thus, the outstanding public debt will go up by more than 15 per cent.

However, the debt to GSDP ratio will remain at 25 per cent.

As per the budget estimates, the state’s open market loans will go upto Rs 2,89,873 crore from Rs 2,44,239 crore in the previous financial year.

However, loans from central government are estimated to come down to Rs 7,188 crore from Rs 7,556 crore in 2021-22.

Loans from autonomous bodies will also decline from Rs 14,162 crore to Rs 13,591 crore.

Special securities (small savings) and Provident Fund etc will be Rs 19,336 crore, up from Rs 19, 164 crore.

In the previous financial year, the government raised Rs 47,500 crore loans.

In 2019-20, the public debts were Rs 2.05 lakh crore. Thus, there has been 60 per cent increase in three years.

In 2016-17, the state’s outstanding public debts stood at Rs 1.23 lakh crore.

Since this was the last full-fledged budget before next year’s Assembly elections, the government is apparently planning to raise more debts for effective implementation of the existing schemes and also the new schemes.

The government has made a provision of Rs 17,700 crore in the budget for the implementation of a new scheme Dalit Bandhu.

Similarly, allocations have been increased for agriculture, health, education and other sectors.

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