PANAJI
Chief Minister Manohar Parrikar insisted that the total public debt to gross domestic product the State boasted of was "healthy" and was much better than some other states. Replying to a calling attention motion moved by BJP MLA Nilesh Cabral, which was allegedly to counter "some misleading newspaper reports", Parrikar revealed that the public debt to GDP ratio stood at 19.29% while total public debt and other liabilities to GDP ratio was 26.10%
The total public debt on March 31, 2017 is Rs 12,395 crore.
Chief Minister Manohar Parrikar insisted that the total public debt to gross domestic product the State boasted of was "healthy" and was much better than some other states. Replying to a calling attention motion moved by BJP MLA Nilesh Cabral, which was allegedly to counter "some misleading newspaper reports", Parrikar revealed that the public debt to GDP ratio stood at 19.29% while total public debt and other liabilities to GDP ratio was 26.10%
The total public debt on March 31, 2017 is Rs 12,395 crore.
The public debt accounts for the open market borrowings, assistance in the form of loans by the government of India, external aided projects like JICA, World Bank, and loans taken from NABARD, power finance corporations, NCDC, HUDCO, LIC, etc.
"20% is an extremely good figure. It is considered one of the best financial parameters. If we can bring total State public debt to less than 25%. We will be one of the best states in the country," Parrikar said.
He said that the government still has an additional allowed borrowing of Rs 1390.92 crore as per Reserve Bank of India norms but that the State will not need to borrow such a huge quantum during the remainder of the financial year and that "borrowing shall be curtailed so as to meet the requirements of capital expenditure only, after taking into account huge repayment of the principal amount which fall due during the remainder of the year on account of the borrowings availed 10 years back".
Parrikar said "Considering the estimated GSDP for the year 2016-17 to be Rs 64,443 crore, the per capita income stands at Rs 4,25,084 crore and the per capita debt stands at Rs 81,764 crore which is 19.24% of the gross per capita income and well within the norms."
"20% is an extremely good figure. It is considered one of the best financial parameters. If we can bring total State public debt to less than 25%. We will be one of the best states in the country," Parrikar said.
He said that the government still has an additional allowed borrowing of Rs 1390.92 crore as per Reserve Bank of India norms but that the State will not need to borrow such a huge quantum during the remainder of the financial year and that "borrowing shall be curtailed so as to meet the requirements of capital expenditure only, after taking into account huge repayment of the principal amount which fall due during the remainder of the year on account of the borrowings availed 10 years back".
Parrikar said "Considering the estimated GSDP for the year 2016-17 to be Rs 64,443 crore, the per capita income stands at Rs 4,25,084 crore and the per capita debt stands at Rs 81,764 crore which is 19.24% of the gross per capita income and well within the norms."
