Lok Sabha Question No. 961 (UNSTARRED), answered on 2025-02-10
Subject: Current Debt to GSDP Ratio of States
Ministry: FINANCE
Asked by: Shri Deepender Singh Hooda

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF EXPENDITURE

## LOK SABHA

## UNSTARRED QUESTION NO. 961

TO BE ANSWERED ON MONDAY, 10 th  FEBRUARY, 2025 21 MAGHA, 1946 (SAKA)

## CURRENT DEBT TO GSDP RATIO OF STATES

961. Shri Deepender Singh Hooda:

Will the Minister of FINANCE be pleased to state:

- (a) the current debt to Gross State Domestic Product (GSDP) ratio of all States including Haryana in the financial year 2024-25; and
- (b) the trend of debt to GSDP ratio of all States during the last ten years?

## ANSWER

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

- (a) As per the Reserve Bank of India's (RBI) report titled 'State Finances: A Study of Budgets of 2024-25', the details of Total Outstanding Liabilities  to  Gross  State  Domestic  Product  (GSDP) ratio of all States including Haryana is attached at Annexure .
- (b)  The  trend  of  debt  to  GSDP  ratio  of  all  States  and  Union  Territories  (UT)  with  Legislature during the last ten years (at end-March) as per the RBI's report titled 'State Finances: A Study of Budgets of 2024-25' is shown in the Table below:

(in percent)

|   2016 |   2017 |   2018 |   2019 |   2020 |   2021 |   2022 |   2023 |   2024 (RE) |   2025 (BE) |
|--------|--------|--------|--------|--------|--------|--------|--------|-------------|-------------|
|   23.7 |   25.1 |   25.1 |   25.3 |   26.6 |     31 |   29.1 |   28.2 |        28.5 |        28.8 |

*****

Annexure referred to in the answer of part (a) of Lok Sabha Unstarred question no. 961 for 10.02.2025

## Details of total outstanding liabilities of States as percent of GSDP (as at end-March)

(in percent)

| State                |   2016 |   2017 |   2018 |   2019 |   2020 |   2021 |   2022 |   2023 |   2024 (RE) |   2025 (BE) |
|----------------------|--------|--------|--------|--------|--------|--------|--------|--------|-------------|-------------|
| 1. Andhra Pradesh    |   24.5 |   37.2 |   29.2 |   30.3 |   33.2 |   36.1 |   33.1 |   33.1 |        34.3 |        34.7 |
| 2. Arunachal Pradesh |   30.9 |   28.5 |   31   |   33.3 |   40.4 |   46.1 |   48.7 |   51.4 |        56.1 |        57   |
| 3. Assam             |   18.4 |   17.3 |   17.4 |   19.3 |   21.2 |   26.4 |   24.9 |   27   |        27   |        27.5 |
| 4. Bihar             |   31.4 |   33   |   33.5 |   32   |   33.3 |   40.1 |   39.8 |   39.3 |        38.9 |        37.3 |
| 5. Chhattisgarh      |   17.4 |   16.5 |   19.5 |   21.1 |   25   |   28.4 |   25.9 |   23.5 |        28.2 |        29.1 |
| 6. Goa               |   28.4 |   26.8 |   26.9 |   28.5 |   30.2 |   35.9 |   36   |   34.1 |        33.8 |        30.2 |
| 7. Gujarat           |   22.5 |   20.9 |   20.2 |   20   |   20.4 |   22.5 |   20.2 |   19.2 |        18.2 |        17.9 |
| 8. Haryana           |   25   |   26.6 |   26.2 |   26.8 |   29.7 |   33.8 |   32.2 |   31.4 |        30.6 |        30.4 |
| 9. Himachal Pradesh  |   36.1 |   37.6 |   36.8 |   36.6 |   39.1 |   45.4 |   42.7 |   45.2 |        45.2 |        45.2 |
| 10. Jharkhand        |   27.6 |   28.5 |   28.8 |   27.4 |   30.5 |   36.8 |   30.2 |   28.4 |        26.7 |        26.6 |
| 11. Karnataka        |   17.8 |   17.5 |   18.4 |   19.4 |   21   |   25.7 |   25.5 |   25.1 |        25.4 |        26.5 |
| 12. Kerala           |   28.9 |   30.2 |   30.9 |   30.9 |   32.9 |   40.3 |   38.9 |   37.9 |        37.2 |        36.8 |
| 13. Madhya Pradesh   |   23.6 |   24   |   23.8 |   23.5 |   22.8 |   30.7 |   29.8 |   29.4 |        30.2 |        31.6 |
| 14. Maharashtra      |   17.9 |   18   |   18.4 |   17.4 |   18.1 |   21   |   19.3 |   18.1 |        18.3 |        19   |
| 15. Manipur          |   41.7 |   41.5 |   37.1 |   38.2 |   38.3 |   43.9 |   43.8 |   42.6 |        37.3 |        36.7 |
| 16. Meghalaya        |   30   |   33.7 |   34.4 |   35.3 |   35.4 |   43.5 |   42.1 |   42.9 |        39.8 |        39   |
| 17. Mizoram          |   46.7 |   38.9 |   38.9 |   34.9 |   36   |   42.7 |   41   |   37.2 |        34.9 |        31.6 |
| 18. Nagaland         |   45.7 |   44   |   42.6 |   43.9 |   46.6 |   51.1 |   49.1 |   45.7 |        39.6 |        40   |
| 19. Odisha           |   19.9 |   18.3 |   23.4 |   21.2 |   26.8 |   26.1 |   19.9 |   19.5 |        16   |        16.3 |
| 20. Punjab           |   34.4 |   42.8 |   41.4 |   41.4 |   42.8 |   47.9 |   45.4 |   47.1 |        46.7 |        46.6 |
| 21. Rajasthan        |   30.8 |   33.6 |   33.8 |   34.2 |   35.3 |   40.4 |   38.8 |   37.3 |        37.1 |        35.8 |
| 22. Sikkim           |   24.1 |   22.7 |   22.8 |   24.1 |   25.3 |   29.2 |   30.5 |   31.3 |        33   |        35   |
| 23. Tamil Nadu       |   19.4 |   21.8 |   22.3 |   24.6 |   26.5 |   31.8 |   32.2 |   31.7 |        31.1 |        30.3 |
| 24. Telangana        |   15.7 |   12.4 |   21.4 |   22.2 |   23.7 |   28.8 |   28   |   26.7 |        26.2 |        26.2 |
| 25. Tripura          |   28.8 |   30   |   30.6 |   30.3 |   33.6 |   40.2 |   36   |   31.4 |        28.5 |        27.9 |
| 26. Uttar Pradesh    |   33.9 |   36.7 |   35.9 |   35.9 |   32.3 |   36.6 |   32.6 |   30.4 |        30.9 |        31.8 |
| 27. Uttarakhand      |   22.7 |   22.8 |   24.1 |   25.8 |   28.2 |   33.4 |   29.6 |   26.5 |        24.7 |        24.2 |
| 28. West Bengal      |   39.5 |   38.7 |   38.1 |   36.7 |   37.8 |   43.6 |   41.2 |   39.1 |        38.3 |        38   |