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    Enemies will tremble at the sight of India on Republic Day ! This time Raphael will join the parade

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    The whole of North India, including Delhi, is still foggy and chilly, people are stunned!

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    “Umbergaon residents wish for Vapi and Mumbai lifestyle experience” says consumer insight survey

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    Odisha wins Best State & Civic Agency, Indore – Best Municipality, Gujarat – Best SEC and Kerala – Best SFC in Janaagraha City Governance Awards

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    Neuberg Supratech launches round-the-clock RT PCR test counter at Sardar Vallabhbhai Patel International Airport

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    The CM of this state has been protesting in front of Raj Bhavan for 3 days !

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    Kashmir and Ladakh separate from India on WHO map, Indians erupt

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    The Intellectual Property Appellate Board (IPAB) makes a landmark judgement in favour of The Indian Performing Right Society (IPRS)

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Our state’s public debt is at record levels, know how much it will be in March 2021 ?

NM by NM
3 weeks ago
in Automobile, Economy, Gujarat
2 min read
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Our state’s public debt is at record levels, know how much it will be in March 2021 ?
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When the Assembly elections are held in Gujarat in 2022, the amount of public debt of the state government will cross three lakh crore. According to the Finance Department, the state’s public debt is expected to increase to Rs 2.96 lakh crore by March 2021.

According to the finance department, public debt stood at Rs 2.17 lakh crore at the end of March 2018, rising to Rs 2.38 lakh crore at the end of March 2019. When the figures were last released, public debt rose to Rs 2.66 lakh crore in March 2020. Public debt is a concern for any government. As the debt components change, the government now gets less central loans and more market loans.

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According to a document from the Gujarat government’s finance department, the public debt figure could reach 2.96 crore on March 21. Public debt of the government includes market loans, power bonds, central government loans and advances, loans from financial institutions as well as banks as well as NSSF loans.

According to Finance Department sources, the debt component has changed between 2009 and 2017, with the central government’s debt ratio falling from 11.87 per cent to 3.29 per cent. Similarly, the share of NSSF loans fell from 51.59 per cent to 23.26 per cent, while the share of market loans increased from 32.20 per cent to 68.28 per cent. Which sheds light on the growing reliance on market loans.

In the next two years, i.e. when the Gujarat Assembly elections come, by 2022, Gujarat’s public debt will have crossed Rs 3 lakh crore, with the largest debt being based on market loans. The government also has to pay principal and interest on the amount owed to the public.

Tags: VR Sunil Gohil
NM

NM

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