http://www.hindu.com/2011/02/24/stories/2011022461310600.htm
Each citizen carries a debt of Rs. 17,000! Special Correspondent
HYDERABAD: Every citizen in the State will carry a debt of close to Rs. 17,000 by the end of the next financial year.
The debt burden on the citizens is indicated to be around Rs. 15,000 present and the government plans to mobilise more resources to meet its expenditure targets, the debt services in particular. As the borrowings kept mounting, debt servicing burden of the State constituted 11.94 per cent of the total revenue expenditure.
According to the budget presented to the Legislative Assembly, the government had decided to keep options open to borrowing close to Rs. 18,000 crore during the next financial year. With this, the outstanding public debt of the government will climb from Rs. 1,23,226 crore to Rs. 1,41,150 crore.
A major portion of the proposed borrowings would be through open market loans while the government had decided to do away with high cost loans by cutting down on the quantum obtained from autonomous bodies from Rs. 6,924.94 crore to Rs.5,528 crore during the next fiscal.
The proposed borrowings would take the public debt as percentage of the GSDP to 23.62 per cent.
Each citizen carries a debt of Rs. 17,000! Special Correspondent
The debt burden on the citizens is indicated to be around Rs. 15,000 present and the government plans to mobilise more resources to meet its expenditure targets, the debt services in particular. As the borrowings kept mounting, debt servicing burden of the State constituted 11.94 per cent of the total revenue expenditure.
According to the budget presented to the Legislative Assembly, the government had decided to keep options open to borrowing close to Rs. 18,000 crore during the next financial year. With this, the outstanding public debt of the government will climb from Rs. 1,23,226 crore to Rs. 1,41,150 crore.
A major portion of the proposed borrowings would be through open market loans while the government had decided to do away with high cost loans by cutting down on the quantum obtained from autonomous bodies from Rs. 6,924.94 crore to Rs.5,528 crore during the next fiscal.
The proposed borrowings would take the public debt as percentage of the GSDP to 23.62 per cent.
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