Odisha's loan burden is estimated rise to Rs 64,991.83 crore by the end of the current finance year, 2016-17.
With this, the loan will increase by Rs 16,405.18 in just one year over Rs 48,586.65 crore in 2015-16 and by 21,718.45 crore in two years over Rs 43,273.38 crore in 2014-15.
Finance Minister Pradeep Kumar Amat informed this in the State Assembly in response to a question of BJP MlA Dilip Ray on Monday.
By the end of February 2016, the State had borrowed a total of Rs 48,586.65 crore from different sources. It had borrowed Rs 7,312.49 crore from the Union Government, Rs 10,880.90 crore from the National Small Savings Fund, Rs 7,128.13 crore from open market, Rs 6,230.98 crore from the National Bank for Agriculture and Rural Development (Nabard), Rs 55.57 crore from the National Thermal Power Corporation (Power Bond) and others, Rs 13.30 crore from lIG/GIC, Rs 22.98 crore from the National Cooperation Development Corporation, Rs 4.44 crore from the Rural Electrification Corporation and Rs 16,937.65 crore from the Provident Fund. To lessen the loan burden, the Government is borrowing less amount from the National Small Savings Fund, making repayment against high-interest loans and trying to lessen dependence on loan by creating revenue stability.
Besides, the Government has got interest waiver of Rs 1,909.50 crore as per the 12th Finance Commission recommendation and Rs 130.17 crore as per the 13th Finance Commission recommendation, the Minister informed.