Gujarat's Skyrocketing Debt: A Financial Overview
Gujarat's public debt has surged to Rs 3,99,633 crore in 2024-25, up from Rs 3,52,718 crore in the previous year, according to revised estimates. Finance Minister Kanubhai Desai revealed this during the Budget session. The state paid significant amounts towards interest and principal repayment in the recent fiscal years.
Gujarat's financial landscape is witnessing a significant burden as the state's public debt reaches Rs 3,99,633 crore for the fiscal year 2024-25, based on revised estimates. Finance Minister Kanubhai Desai disclosed these figures during the ongoing Budget session while responding to Congress MLA Shailesh Parmar's inquiry.
The debt level marked a substantial increase from Rs 3,52,718 crore in 2023-24, reflecting a Rs 46,915 crore escalation. Minister Desai outlined these numbers in a written reply, shedding light on the government's strategy to manage the rising debt levels.
In terms of fiscal management, the state allocated Rs 24,964 crore as interest for 2023-24, with Rs 26,136 crore towards principal repayment. For 2024-25, the figures are Rs 25,945 crore and Rs 29,086 crore, respectively. Furthermore, Gujarat's Budget for 2026-27 was presented with a total projected outlay of Rs 4.08 lakh crore.
Google News