Uttarakhand’s financial condition deteriorates while repaying loans, CAG raised questions

Uttarakhand’s financial condition deteriorates while repaying loans, CAG raised questions
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Know how many crores were spent on repaying the loan

Dehradun. After the CAG report came out, big revelations have been made on many important issues related to Uttarakhand. Today the CAG’s debt report for the last five years has been placed in the House. Instead of increasing the expenditure on the government, it is increasing every year. According to the CAG report, the financial condition of the state is deteriorating continuously. So far Rs 73,751 crore has been spent on the state. The special thing is that the state government has to borrow from the market only to repay the loan and interest.

On the contrary, there is no significant increase in income. For this reason, instead of keeping permanent employees on vacant posts, the government has to outsource them, so that there is no unnecessary burden on the retirement of such outsourced employees. In the year 2016-17, Uttarakhand had a debt of 44,583 crores, which reached 73,751 crores in the year 2021. That is, in this period, the government borrowed a loan of 29,168 crores through the Reserve Bank. The government is also having to borrow to pay off its total debt and interest and 70.90 percent of this amount has to be deposited in this lien. That is, about 29 percent of the budget is being used for his salary, allowances, pension, and other work.

Uttarakhand has the highest market debt. The state government raises this loan through the Reserve Bank. Its total amount is 53,302 crores while the liability of the Government of India is 3813 crores. State government employees have also borrowed up to Rs 16,636 crore from GPF, EF, National Savings Scheme, etc. When the government has to borrow only to pay the debt and the interest on it, then how will development work be started from it. In such a situation, the state government cannot even think of making any big project with its own resources, so it will have to depend only on the central grant.

Anita Amoli

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