Loans taken by Centre in eight years rose by 83%: RTI info

Hyderabad: While Telangana BJP leaders target the State government for taking excessive loans, the loans taken by the Centre during the last eight year have increased by 83 per cent. There is a loan of over Rs 5 lakh on each citizen of the country.

According to the information furnished by Aid Accounts and Audit divisions of Department of Economic Affairs, based on a RTI query, the loan burden on the country was over Rs 8.02 lakh crore.

Before 2014, during the last 67 years the average loan taken per year was Rs 6,367 crore. However, after 2014 on an average, the Centre has borrowed Rs 46,205 crore loans per year from foreign banks. During the last 67 years while the total loan taken was Rs 4.32 lakh crore, during the last eight years the total loans were 3.70 lakh crore, which is said to be a record of sorts.

According to figures given through the RTI, the total external debts were to the tune of Rs 8,02,897 crore. The average loans taken every year were Rs 46,205 crore during the last eight years, which means 83 per cent increase. Till January 2015 the loans (multilateral and bilateral) were Rs 3.76 lakh crore which have now become Rs 7.12 lakh crore.

The non-government loans increased from Rs 56,000 crore to Rs 89,000 crore. Mainly, under the government level the loans were taken from the Asian Development Bank (ADB), World Bank, IDA, OPEC, IBRD, which are multilateral. The loans taken from Germany, France, Switzerland, the USA were under bilateral agreements. According to experts, the country's population was 140 crore; the total debt was Rs 8,02,897 crore, which would come at Rs 5,73,493 on each citizen.

The BJP leaders in Telangana have been vocal against the TRS for taking loans and burdening people. With the huge loan taken by the Centre, the ruling party in the State may also target the saffron leaders.