The total public debt of Chhattisgarh has increased by 20.85 percent in 2019-20, from Rs 52,254.22 crores (2018-19) to Rs 63,164.72 crores (2019-20). The fiscal deficit was Rs 17,969.55 crores, which is 5.46 percent of GSDP and which exceeded the MTFP (Money Follows the Person Initiative) target of 2.99 percent of GSDP.

During 2018-19, the fiscal deficit was within the FRMB (Fiscal Responsibility and Budget Management) target of 3.07 percent of GSDP, said a Comptroller and Auditor General of India report tabled in the House on Friday by Chief Minister Bhupesh Baghel. On the last day of the Monsoon session, Baghel, who also holds Finance portfolio, tabled the Finance and Accounts and Appropriation Accounts of the Chhattisgarh government for 2019.20. The report said the gross budget for 2019-20 was Rs 1,06,913.44 crores. Against it, the gross expenditure was Rs 92,261.34 crores. The tax revenue stood at Rs 42,323.69 crores and the state’s own revenue rose to Rs 22,117.85 crores against Rs 21,427.26 crore (2018-19). The state received Rs 13,611.24 crores Grants in aid from the Centre as compared to last fiscal.

The capital expenditure of the state government was Rs 8,566,39 crores, Rs 337.06 crores less as compared to 2018-19. The revenue deficit of Rs 9,608.61 crores constitutes 2.92 percent of Gross State Domestic Product (GSDP) during 2019-20.

In 2018-19, the state had achieved a revenue surplus of Rs 683.76 crores. The public debt increased by 20.85 percent in 2019-20. The state government has an off-budget liability of Rs 694.26 crores towards repayment of loans taken by various entities, in addition to its budgeted liabilities of Rs 78,712.46 crores. The report said the government had provided budgetary support and accepted liability (guarantee) for Rs 17,610.17 crores in 14 Public Sector Undertaking during the period for which their accounts are in arrear up to March 31, 2020. These PSUs have not finalized their accounts for the last 1-4 years in gross violation of the Companies Act.