Rising Debt Burden Of Odisha - Avoiding Prodigal Spending Is Way Out
Bhubaneswar, Sept. 17 -- Some concern has been expressed recently over the rising per capita debt burden due to increasing borrowings of Odisha government. In the current year Government will pay 13.84% of its total expenditure towards repayment of loan and spend Rs 23,521 croretowards this, whereas it will spend just a little higher amount, Rs 25,788 crore(15.17%), on building capital assets, like building roads, bridges, irrigation facilities etc. It proposes to incur fresh loan of Rs 40,986 crorethat is more than what it would collect through own Taxes-Rs 37,500 crore. The current year will end up with a fiscal deficit of Rs 20,465 crore(3.49 % of the GSDP). Total loan of the Government by the end of the current year would be Rs 1.25 l...
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