The per head loan burden in the State was Rs 15,566 by February 2018 compared to Rs 9,055 in 2007-08, informed Shashi Bhushan Behera in the State Assembly in response to a question of Congress MlA Tara Prasad Bahinipati on Monday.
From the data, it is calculated that the per-head loan burden has increased by 71.90 per cent in 10 years.
The State incurs loans mainly from the Union Government, National Small Savings Fund (NSSF), open market, Nabard, National Cooperative Development Corporation (NCDC), lIC, General life Insurance Corporation, Rural Electrification Corporation and the State Provident Fund. Provisions are made in the Budget for repayment of loans as per guidelines, the Minister informed.
He further informed that the State has incurred a total of Rs 23,592.90 crore during the last four years from 2014-15 to 2017-18 from different sources. Among the loan providers, the Nabard provides loans at the lowest rate of 4.75 per cent. The NCDC, lIC and GIC takes highest rates of 13 per cent per annum on loans provided to the State, the Minister said.