26.6 C
New Delhi
Wednesday, May 12, 2021

Himachal Pradesh Headed For Debt Trap: CAG Report Released!

Humour

And these Jugaad simply deserve your applause!

Hacks aka Jugaad in India, but hey, it is not just the copyright of Indians to be good at Jugaad. There are many people...

These Memes about 90s will give you a dose of laughter, provided you lived the 90s!

The years gone by always end up giving you mixed feelings. It is not about time passed but how fast the world has changed...

#SanjuTrailer is out and it gives birth to another meme trail you will love!

The internet is not at all tired of praising Ranbir Kapoor's rather Sanjay Dutt's Sanju. The trailer has crossed 16 Million views in a day...

CBSE Class X results are the gold mine of memes, here are the best of the lot!

With anything major happening in our country the netizens are treated with whole lot of memes. No matter what kind of news it is,...
Himachal Khurki
Himachal Khurki
Himachali with blood, heart & Soul. Gali Gali Himachal Ki Nas Nas Mein Basi Hain. Truly loves & care about the state of Himachal Pradesh


Shimla April, 1; A report by the Comptroller and Auditor General of India (CAG) has warned that Himachal Pradesh could fall into a “debt trap”, as the state’s public debt rose to Rs 27,910 crore in the previous financial year.

The report, tabled in the Himachal Pradesh assembly on Friday, revealed that the state was required to pay 62% of this debt within 7 years. The report has revealed that the overall fiscal liabilities of Himachal Pradesh increased by Rs 12,969 crore (46%) in four financial years, from Rs 28,228 crore in 2011-12 to Rs 41,197 crore in 2015-16. It said interest payments increased by 48% in the same period, from Rs 2,130 crore in 2011-12 to Rs 3,155 crore in 2015-16, and by Rs 306 crore (11%) over the previous year.\

Public debt increased from Rs 19,511 crore in 2011-12 to Rs 27,910 crore in 2015-16, registering an annual average growth rate of 8.42%. It said share of market borrowings in total public debt went up from 52% in 2011-12 to 60% in 2015-16.

In this fiscal, the total public debt increased by 8.48% over the previous year. The maturity profile of the state debt indicates that 8%, or Rs 2,268 crore, of public debt is payable in the next year, while 38%, or Rs 10,567 crore, of it is payable in the next one to five years. The remaining 54% (Rs 15,075 crore) of public debt is required to be paid in more than five years.
According to the report, almost 15-16% revenue receipts of the state were used for Interest payments from 201112 to 2015-16. In 2015-16, interest payments accounted for 13.46% of revenue receipts. Per capita debt increased from Rs 40,904 in 2011-12 to Rs 57,642 during the 2015-16 fiscal, an increase of 41%. Over the previous year, the per capita debt increased by Rs 3,729.
 News Source Times Of India
- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Also From The Author

Door-to-door collection of garbage, yet heaps of garbage a common site in Shimla

Shimla, June 16: Notwithstanding the tall claims of the success of the Swachh Bharat Mission, the door-to-door garbage collection scheme of the Shimla Municipal...

A Kargil War Memorial Soon To Be Built In Himachal Pardesh

Shimla May, 11: It may well be the first war memorial of its kind, complete with an action scene from the Kargil battle, with...

Act Tough Against Bogus Institutes, Says Himachal HC

The Himachal Pradesh High Court on Thursday took serious note of mushrooming of private institutes that are not affiliated or recognised by the universities...

Presidential election: Hundred per cent polling in Himachal

Shimla, July 17: Hundred per cent polling was recorded in the voting for the presidential election in Himachal with all 67 MLAs casting their...

Kangra MLA Ajay Mahajan Of Congress

MLA AJAY MAHAJAN NURPUR (KANGRA) Profile Ajay Mahajan is MLA from Nurpur. He is from INDIAN NATIONAL CONGRESS. He is son of late Shri Sat Mahajan (Former...