Telangana's state debt will reach Rs 6,71,757 crore by end of FY24: Govt

Telangana will have an outstanding debt of Rs 6,71,757 crore, including non-guaranteed loans of corporations or institutions by the end of FY 24 against Rs 72,658 crore in 2014-15, the state government said.  "The total debt on the books of the State, guaranteed and serviced by the State, guaranteed but not serviced by the State, and not guaranteed and serviced by the institutions is Rs 6,71,757 crore," it said.
 

As per the government document released on Wednesday, the budget and off-budget has increased enormously and is consuming 34 per cent of the state's revenue receipts while the salaries and pensions of employees consume another 35 per cent of the state revenue receipts. Further, as per budget estimates for FY 2023-24, the debt under FRBM (Fiscal Responsibility and Budget Management Act, 2003) is estimated to increase to Rs. 3,89,673 crore.

In Telangana, there is a gap of almost 20 per cent between the budgeted and the actual expenditure. This figure is not only high when compared to other states, but also in comparison to the expenditure achieved in united Andhra Pradesh, the document said. The new government is determined to implement all the six guarantees which are promised by the party based on which the people of Telangana had given the mandate for change, it said.

With PTI Inputs