The total loan burden of the State by end of the year 2018-19 was Rs 79,866.08 crore and the per capita loan stood at Rs 17,630.48 according to the primary report of the Accountant General, informed Finance Minister Niranjan Pujari in the State Assembly here on Monday.
In response to a question of Congress MLA Tara Prasad Bahinipati, the Minster stated that State incurs loans within 3.5 per cent of the State Gross Domestic Product (SGDP) stipulated by the Union Government. The per capita loan of Odisha is much lower than other States, he said.
Out of total loan amount of Rs 79,866.08 crore, the State has borrowed Rs 7,836.54 crore from the Union Government, Rs 9,172.99 crore from National Small Savings Fund (NSSF), Rs 28,030 from open market, Rs 13,092.29 crore from National Agriculture and Rural Development Bank (Nabard), Rs 0.40 crore from Life Insurance Corporation (LIC), Rs 6.36 crore from General Insurance (GIC), Rs 7.30 crore from National Cooperative Development Corporation (NCDC), Rs 110.71 crore from Rural Electrification Corporation and others and Rs 21,608.52 crore from the Provident Fund.