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Telangana Govt debt burden to climb up to 1.4 L crore
Substantial increase in allocation for welfare and development programmes is likely to put heavy debt burden on State government in the next financial year. The State government has projected that the debt will climb up to over Rs 1.40 lakh crore during 2017-18 from Rs 1.14 lakh crore during 2016-17.
Hyderabad: Substantial increase in allocation for welfare and development programmes is likely to put heavy debt burden on State government in the next financial year. The State government has projected that the debt will climb up to over Rs 1.40 lakh crore during 2017-18 from Rs 1.14 lakh crore during 2016-17.
As a result, the debt burden will account for 18.51 per cent of the total GSDP in 2017-18. As per the revised estimations in 2016-17, government debt has been registered at 17.55 per cent of the GSDP. The debt outstanding (Rs 93,115 crore) in 2015-16 has been registered at 16.18 per cent of the total GSDP.
To meet the requirement for the welfare and development activities, the State government has proposed to generate funds to the tune of Rs 1.15 lakh crore through financial institutions. Officials said the government had increased scheme (plan) expenditure to Rs 88,000 crore in 2017-18 budget from Rs 67,000 crore last year. In an attempt to mobilise Rs 20,000 crore additional funds, government has decided to borrow open market loan of Rs 1.15 lakh compared to Rs 90,130 crore during the last financial year.
The projections in the budget outlay showed that the loans from the Union government would go up to Rs 9,331 crore in 2017-18 from Rs 8,720 crore in 2016-17. Loan from autonomous bodies would be around Rs 3,866 crore (as against present Rs 3,650 crore). The loans from special securities (small savings and provident fund) would be around Rs 12,081 crore as against Rs 12,303 in 2016-17.
The State-owned corporations would get most of the loan amount from the lending agencies. The total government guarantee outstanding as on January 1, 2017 is Rs 31, 453 crore of which Rs 9,732 crore was for power sector and Rs 21,720 crore for others.
By Patan Afzal Babu
