Chhattisgarh’s Debt Situation
Chhattisgarh has a total debt of Rs. 82,125 crore. Since its formation in 2000, the state has taken loans amounting to Rs. 1.05 lakh crore. Out of this, Rs. 28,096 crore has been repaid, while a significant amount remains unpaid.
Loans Taken After Congress Came to Power
Former Chief Minister Bhupesh Baghel has earlier stated that between 2019 and January 2023, Chhattisgarh government took loans worth Rs. 54,491.68 crore. This accounts for 66.35% of the total loans taken by the state since 2000.
Sources of Loans
The loans were taken from different sources:
- ₹39,080 crore as market loans from the Reserve Bank of India (RBI).
- ₹3,783.56 crore from the National Bank for Agriculture and Rural Development (NABARD).
- ₹11,628.12 crore from Asian Development Bank, World Bank, and GST loans, with help from the central government.
Interest Payments
The state pays an interest of around Rs. 460 crore per month since 2019. For the financial year 2022-23, the total estimated interest was Rs. 7,225.05 crore. Out of this, Rs. 4,233 crore has been paid, and Rs. 2,989.05 crore remains outstanding.
Initial Debt at the Time of State Formation
When Chhattisgarh was formed on November 1, 2000, it inherited a debt of Rs. 4,686 crore from Madhya Pradesh. Since then, the state’s borrowings have increased significantly.
Political Reactions and Concerns
The data was presented during a Budget session in response to questions by BJP MLA Narayan Chandel, BJP MLA Shivratan Sharma, and Janata Congress Chhattisgarh (J) MLA Pramod Sharma.
The rising debt has led to debates on financial management and loan utilization. With the state paying high interest every month, discussions on economic sustainability continue.
Understanding the financial situation of a state helps citizens make informed opinions. The government must balance developmental needs with financial responsibility to ensure long-term growth.
(India CSR)
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