Lok Sabha Question No. 83 (UNSTARRED), answered on 2024-07-22
Subject: Mounting Debt Burden
Ministry: FINANCE
Asked by: Shri Vishnu Datt Sharma

## GOVERNMENT OF INDIA MINISTRY OF FINANCE

## DEPARTMENT OF EXPENDITURE

## LOK SABHA

## UNSTARRED QUESTION NO. 83

TO BE ANSWERED ON MONDAY, 22 nd  JULY, 2024 31 ASHADHA, 1946 (SAKA)

## MOUNTING DEBT BURDEN

## 83. SHRI VISHNU DATT SHARMA

Will the Minister of Finance be pleased to state:

- (a) Whether the Government is cognizant of the mounting debt burden and the deteriorating fiscal situation in some states due to excessive and imprudent doling out of freebies;
- (b) If  so,  whether  the  Government is making efforts to bring fiscal prudence in finances of these states to protect the interests of the people and the nation;
- (c) If so, the details thereof; and
- (d) If not, the reasons therefor?

## ANSWER

## MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI PANKAJ CHAUDHARY)

- (a) to (d) As per the Reserve Bank of India's report titled 'State Finances: A study of budgets of 2023-24', the details of total outstanding liabilities of the State Governments at the end of March, 2022, March 2023(RE), March 2024(BE) are at Annexure-I .

Further,  in  terms  of  Article  151  (2)  of  the  Constitution  of  India,  Comptroller  and  Auditor General of India submits State Finances Audit Report relating to the Accounts of a State to the Governor  of  the  State  which  is  laid  before  the  Legislature  of  the  State.  The  State  Finances Audit Report includes the fiscal situation of the State along with debt position.

All  States  have  enacted  their  Fiscal  Responsibility  and  Budget  Management  (FRBM)  Act. Compliance  to  the  State  FRBM  Act  is  monitored  by  the  respective  State  Legislatures. Department of Expenditure, Ministry of Finance generally follows the fiscal limits mandated by the  accepted  recommendations  of  the  Finance  Commission  while  exercising  the  powers  to approve borrowings by States under Article 293(3) of the Constitution of India. Adjustments for the over-borrowing by States during previous years, if any, are made in the borrowing limits of subsequent years.

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## Annexure-I referred to in the answer of part (a) to (d) of Lok Sabha Unstarred question no. 83 for 22.07.2024

State-wise details of total outstanding liabilities of State Governments at the end of March 2022, March 2023(RE) and March 2024 (BE)

| Total Outstanding Liabilities of State Governments                 | Total Outstanding Liabilities of State Governments                 | Total Outstanding Liabilities of State Governments                 | Total Outstanding Liabilities of State Governments                 |
|--------------------------------------------------------------------|--------------------------------------------------------------------|--------------------------------------------------------------------|--------------------------------------------------------------------|
|                                                                    |                                                                    |                                                                    | (Rs. in Crore)                                                     |
| 1. Andhra Pradesh                                                  | 3,80,548.50                                                        | 4,28,715.70                                                        | 4,85,490.80                                                        |
| 2. Arunachal Pradesh                                               | 15,924.60                                                          | 18,850.40                                                          | 21,654.20                                                          |
| 3. Assam                                                           | 1,02,366.30                                                        | 1,26,281.40                                                        | 1,50,900.40                                                        |
| 4. Bihar                                                           | 2,57,634.70                                                        | 2,93,850.50                                                        | 3,19,618.30                                                        |
| 5. Chhattisgarh                                                    | 1,06,451.10                                                        | 1,09,664.10                                                        | 1,22,164.10                                                        |
| 6. Goa                                                             | 29,209.20                                                          | 30,743.20                                                          | 34,758.40                                                          |
| 7. Gujarat                                                         | 3,88,582.80                                                        | 4,21,018.20                                                        | 4,67,464.40                                                        |
| 8. Haryana                                                         | 2,79,453.30                                                        | 3,05,586.90                                                        | 3,36,253.00                                                        |
| 9. Himachal Pradesh                                                | 73,541.40                                                          | 86,639.20                                                          | 94,992.20                                                          |
| 10. Jharkhand                                                      | 1,13,568.10                                                        | 1,18,855.50                                                        | 1,31,455.60                                                        |
| 11. Karnataka                                                      | 5,03,987.70                                                        | 5,35,408.10                                                        | 5,97,618.40                                                        |
| 12. Kerala                                                         | 3,60,036.90                                                        | 3,89,312.30                                                        | 4,29,270.60                                                        |
| 13. Madhya Pradesh                                                 | 3,25,193.00                                                        | 3,65,624.40                                                        | 4,18,056.00                                                        |
| 14. Maharashtra                                                    | 6,06,407.10                                                        | 6,53,197.00                                                        | 7,22,887.30                                                        |
| 15. Manipur                                                        | 15,334.00                                                          | 17,376.40                                                          | 19,245.80                                                          |
| 16. Meghalaya                                                      | 16,927.60                                                          | 18,845.10                                                          | 20,029.90                                                          |
| 17. Mizoram                                                        | 10,953.70                                                          | 12,880.00                                                          | 14,039.30                                                          |
| 18. Nagaland                                                       | 15,834.50                                                          | 17,085.20                                                          | 18,165.80                                                          |
| 19. Odisha                                                         | 1,39,002.40                                                        | 1,29,872.90                                                        | 1,20,986.90                                                        |
| 20. Punjab                                                         | 2,84,923.20                                                        | 3,16,346.10                                                        | 3,51,130.20                                                        |
| 21. Rajasthan                                                      | 4,63,832.80                                                        | 4,99,529.00                                                        | 5,62,494.90                                                        |
| 22. Sikkim                                                         | 11,482.20                                                          | 13,331.40                                                          | 15,529.50                                                          |
| 23. Tamil Nadu                                                     | 6,67,974.90                                                        | 7,41,497.70                                                        | 8,34,543.50                                                        |
| 24. Telangana                                                      | 3,14,852.90                                                        | 3,52,061.00                                                        | 3,89,672.50                                                        |
| 25. Tripura                                                        | 22,438.60                                                          | 23,360.50                                                          | 26,505.80                                                          |
| 26. Uttar Pradesh                                                  | 6,46,321.30                                                        | 6,93,577.10                                                        | 7,69,245.30                                                        |
| 27. Uttarakhand                                                    | 78,952.10                                                          | 80,120.40                                                          | 89,466.00                                                          |
| 28. West Bengal                                                    | 5,48,235.90                                                        | 5,96,725.20                                                        | 6,58,426.20                                                        |
| Total                                                              | 67,79,970.80                                                       | 73,96,354.90                                                       | 82,22,065.30                                                       |
| Source: RBI Report "State Finances: A Study of Budgets of 2023-24" | Source: RBI Report "State Finances: A Study of Budgets of 2023-24" | Source: RBI Report "State Finances: A Study of Budgets of 2023-24" | Source: RBI Report "State Finances: A Study of Budgets of 2023-24" |