Orissa owes Rs 25,672 cr to Centre, masses
With gross revenue generation consistently failing to achieve its target, the figure is expected to rise higher.india Updated: Feb 22, 2006 13:02 IST
Orissa government's public debt has shot up from Rs 1,859 crore in 2004-2005 to a whopping Rs 25,672 crore.
With gross revenue generation consistently failing to achieve its target, this figure is expected to rise much higher.
The public debt during 2004-2005 registered a growth of 7.8 per cent compared to the total outstanding loan of the previous fiscal, the finance accounts released by Comptroller and Auditor General of India said.
The state government's public debt comes from two sources, such as internal debt and loans from the Union Government.
While the total internal debt during 2004-2005 fiscal increased by Rs 1,881 crore to Rs 16,346 crore, the loans and advances from the Centre registered a negative growth and stood at Rs 9,326 crore. Orissa's total debt during 2003-2004 was Rs 23,813 crore.
Internal debt comprises long term loans raised from open market, loans received from the autonomous bodies, cash credit accommodation by the State Bank of India, etc.