Debt-to-GSDP ratio goes up in state: CAG

THE STATE GOVT'S PUBLIC DEBT INCREASED MAINLY DUE TO AN INCREASE IN INTERNAL DEBT (ESPECIALLY INCREASE IN BORROWINGS FROM MARKET)

- Umesh Raghuvanshi

LUCKNOW: The Comptroller and Auditor General (CAG) has expressed concern over the increasing tendency to borrow funds, which has led to an upward trend in the debt-to-Gross State Domestic Product ratio in the past few years in Uttar Pradesh.

Uttar Pradesh's debt-to-GSDP ratio increased from 23% in 2019-20 to 26% in 2023-24. The state's total public debt was Rs 6,67,106.03 crore as on March 31, 2024. This includes an outstanding debt of Rs 6,14,778.94 crore from the market and different financial institutions and Rs 52,327.09 crore from the Centre.