India, Feb. 19 -- Jammu and Kashmir's total debt in the financial year 2024-25 is estimated at Rs 1,37,067 crore, 48 per cent of the Union Territory's GDP, which has expanded significantly to Rs 2,88,422 crore, Chief Minister Omar Abdullah said on Wednesday.
Defending his government's fiscal management strategy, Abdullah said that the increase in the gross state domestic product (GSDP) has helped in reducing the debt-to-GSDP ratio to 48 per cent in the current fiscal from 51 per cent a year ago.
In a written reply to the assembly, the chief minister detailed the trend of the Union Territory's debt-to-GSDP ratio for the past six years.
In 2019-20, liabilities stood at Rs 89,037 crore, which was 54 per cent of that year's GSDP of Rs 1,64,1...