Lok Sabha Question No. 1290 (UNSTARRED), answered on 2023-12-11
Subject: Public Debt of Kerala
Ministry: FINANCE
Asked by: M. K. Raghavan

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF EXPENDITURE

## LOK SABHA

## UNSTARRED QUESTION NO. 1290

## TO BE ANSWERED ON MONDAY, 11 th  DECEMBER, 2023 20 AGRAHAYANA, 1945 (SAKA)

## Public Debt of Kerala

## 1290. SHRI M.K. RAGHAVAN:

Will the Minister of FINANCE be pleased to state:

- (a) whether the Government has noticed increase in public debt of Kerala and if so, the details thereof;
- (b) whether the Government has any data on public debt of Kerala State since 2011 and if so, the details, financial year-wise till 2023;
- (c) whether the Government has restricted the borrowing limit of Kerala and if so, the details thereof and the reasons therefor;
- (d) whether  the  Government  has  any  data  on  public  debt  of  each  State  and  if  so,  the  details thereof, financial-year-wise since 2000 till 2023;
- (e) whether there are any pending dues to the Government of Kerala from the Central grants and if so, the details thereof;
- (f) whether the Government of India has put any restrictions on the Government of Kerala on external borrowings and if so, the details thereof;
- (g) whether  the  Government  has  paid  all  amounts  as  recommended  by  the  Fifteenth  Finance Commission to the Government of Kerala and if so, the details thereof; and
- (h) whether the Government has any data regarding the financial position of the Government of Kerala and if so, the details thereof?

## ANSWER

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

(a) to (d)  All  States  including  Kerala  have  enacted  their  Fiscal  Responsibility  and  Budget Management (FRBM) Act. Compliance to the State FRBM Act, including monitoring of public debt of State is monitored by the respective State Legislatures.

Based on  the  recommendation of  the  15 th Finance  Commission  (XV-FC),  the  normal Net Borrowing Ceiling (NBC) of all States including Kerala has been fixed at 3 percent of the Gross State Domestic Product (GSDP) for the financial year 2023-24. In addition, extra borrowing ceiling has been allowed to State Governments equivalent to estimated combined share of State and its employees' contribution pertaining to the financial year 2023-24 to be actually deposited with the  designated authority  as  per  the  guidelines  of  National  Pension  System  (NPS).  Further, States  are  also  eligible  to  avail  additional  borrowing  of  up  to  0.50%  of  GSDP  based  on  certain performance criteria in power sector.

As per Reserve Bank of India's report titled 'State finances: A study of budgets of 202223' and 'State finances: A study of budgets of 2014-15', the State-wise details of total outstanding liabilities  of  State  Governments  including  the  State  Government  of  Kerala at  the  end  of  March 2000 to March 2023 (BE) are given in Annexure.

(e) to (g)  The  Department  of  Expenditure  releases  Central  Finance  Commission  recommended grants to States based on receipt of recommendations of the nodal Ministry/Department. Further, the release of grants is subject to fulfillment of conditions stipulated in the extant guidelines of the respective grant components. Details of grants released during the 15 th Finance Commission award period to the State Government of Kerala are as under:

(Rs. In crore)

| Item                                  |   2020-21 |   2021-22 |   2022-23 |   2023-24 (till 04.12.2023) |
|---------------------------------------|-----------|-----------|-----------|-----------------------------|
| Finance Commission recommended grants |   18048.8 |   22171.1 |   15382.3 |                     4294.28 |

With respect to restrictions on the Government of Kerala on external borrowings, as per Article 293 (1) of the Constitution of India, the executive power of a State extends to borrowing within the territory of India.

- (h) As per the Reserve Bank of India's report titled 'State finances: A study of budgets of 2022-23', the details of Gross Fiscal Deficit/(Surplus) of the State Government of Kerala at the end of March 2021, March 2022 (RE) and March 2023 (BE) are as follows:

(Rs. In crore)

| Year (As at end- March)   | Gross Fiscal Deficit of the State of Kerala   |
|---------------------------|-----------------------------------------------|
| 2021 (Actual)             | 40,970                                        |
| 2022 (RE)                 | 46,396                                        |
| 2023 (BE)                 | 39,117                                        |

*******

## Annexure referred to in the answer of part (a) to part (d) of Lok Sabha Unstarred question no. 1290 for 11.12.2023

## State-wise details of total outstanding liabilities of State Governments at the end of March 2000 to March 2023 (BE)

(Rs. In crore)

| State             | 2000 (Actuals)   | 2001 (Actuals)   | 2002 (Actuals)   | 2003 (Actuals)   | 2004 (Actuals)   | 2005 (Actuals)   | 2006 (Actuals)   | 2007 (Actuals)   | 2008 (Actuals)   | 2009 (Actuals)   | 2010 (Actuals)   | 2011 (Actuals)   |
|-------------------|------------------|------------------|------------------|------------------|------------------|------------------|------------------|------------------|------------------|------------------|------------------|------------------|
| Andhra Pradesh    | 34,830           | 41,810           | 48,640           | 56,030           | 65,250           | 75,420           | 83,282           | 90,456           | 99,875           | 1,10,054         | 1,23,678         | 1,39,506         |
| Arunachal Pradesh | 740              | 740              | 790              | 970              | 1,740            | 2,070            | 2,412            | 2,371            | 2,837            | 5,926            | 3,165            | 3,506            |
| Assam             | 8,670            | 10,230           | 11,990           | 13,100           | 15,690           | 17,040           | 18,401           | 19,490           | 20,192           | 22,800           | 25,606           | 26,464           |
| Bihar             | 32,870           | 29,940           | 34,130           | 38,250           | 40,000           | 43,180           | 47,290           | 49,846           | 52,807           | 55,782           | 59,514           | 63,580           |
| Chhattisgarh      | -                | 6,970            | 8,120            | 9,590            | 10,820           | 12,130           | 13,190           | 14,042           | 14,647           | 15,029           | 16,254           | 17,044           |
| Goa               | 2,510            | 2,820            | 3,750            | 3,500            | 3,890            | 4,420            | 5,126            | 5,841            | 6,642            | 7,150            | 8,429            | 9,560            |
| Gujarat           | 34,190           | 42,780           | 47,920           | 55,170           | 62,310           | 71,330           | 83,024           | 90,956           | 1,00,328         | 1,09,862         | 1,23,474         | 1,43,015         |
| Haryana           | 13,810           | 14,650           | 17,730           | 19,950           | 22,450           | 24,900           | 26,979           | 29,308           | 29,911           | 33,495           | 41,018           | 46,296           |
| Himachal Pradesh  | 7,840            | 8,700            | 10,060           | 12,230           | 14,380           | 16,480           | 17,390           | 18,142           | 19,482           | 21,900           | 23,766           | 26,425           |
| Jharkhand         | -                | 8,450            | 9,980            | 11,890           | 10,040           | 13,090           | 16,924           | 19,049           | 21,342           | 24,024           | 26,976           | 28,297           |
| Karnataka         | 21,050           | 25,300           | 31,340           | 36,020           | 39,960           | 44,350           | 49,587           | 58,079           | 60,555           | 65,219           | 84,535           | 93,447           |
| Kerala            | 22,210           | 26,260           | 29,540           | 34,310           | 39,150           | 43,690           | 47,883           | 52,318           | 58,503           | 67,008           | 75,453           | 83,963           |
| Madhya Pradesh    | 25,930           | 22,130           | 26,040           | 29,880           | 37,970           | 44,590           | 49,647           | 52,731           | 54,909           | 60,312           | 67,922           | 75,536           |
| Maharashtra       | 58,810           | 67,600           | 78,540           | 89,950           | 1,06,840         | 1,24,550         | 1,46,228         | 1,60,741         | 1,62,013         | 1,86,674         | 2,03,435         | 2,30,629         |
| Manipur           | 1,610            | 1,870            | 1,870            | 1,890            | 2,440            | 3,240            | 4,062            | 4,185            | 4,529            | 4,883            | 5,584            | 6,215            |
| Meghalaya         | 1,120            | 1,390            | 1,530            | 1,820            | 2,120            | 2,410            | 2,610            | 2,819            | 3,218            | 3,700            | 3,944            | 4,345            |
| Mizoram           | 1,180            | 1,380            | 1,710            | 1,970            | 2,610            | 2,920            | 3,154            | 3,354            | 3,951            | 4,147            | 3,776            | 4,664            |
| Nagaland          | 1,390            | 1,600            | 1,880            | 2,390            | 2,390            | 2,640            | 3,006            | 3,225            | 3,577            | 4,185            | 5,497            | 5,899            |
| Odisha            | 20,610           | 24,220           | 28,160           | 30,870           | 33,850           | 36,980           | 40,724           | 42,938           | 42,975           | 43,901           | 45,719           | 47,032           |
| Punjab            | 26,610           | 30,760           | 35,730           | 40,120           | 42,820           | 47,070           | 51,140           | 51,009           | 55,794           | 61,529           | 67,779           | 74,782           |
| Rajasthan         | 31,680           | 35,540           | 41,630           | 47,530           | 53,110           | 59,970           | 66,239           | 71,173           | 77,166           | 84,235           | 91,746           | 99,479           |
| Sikkim            | 590              | 850              | 930              | 990              | 1,010            | 1,150            | 1,289            | 1,409            | 1,705            | 2,018            | 2,484            | 2,450            |
| Tamil Nadu        | 29,570           | 34,540           | 39,070           | 44,470           | 51,760           | 55,970           | 63,848           | 68,561           | 73,887           | 86,154           | 1,01,709         | 1,14,468         |
| Telangana         | -                | -                | -                | -                | -                | -                | -                | -                | -                | -                | -                | -                |
| Tripura           | 1,990            | 2,380            | 2,820            | 3,280            | 4,060            | 4,850            | 5,358            | 4,625            | 4,543            | 4,710            | 5,453            | 6,090            |
| Uttar Pradesh     | 77,930           | 83,100           | 95,820           | 1,05,130         | 1,24,060         | 1,36,270         | 1,54,061         | 1,67,776         | 1,79,741         | 1,92,767         | 2,06,428         | 2,29,927         |
| Uttarakhand       | -                | 4,110            | 5,020            | 6,270            | 8,270            | 10,120           | 12,017           | 13,308           | 14,650           | 17,223           | 19,650           | 21,292           |
| West Bengal       | 44,040           | 54,930           | 66,400           | 78,320           | 89,470           | 97,340           | 1,14,419         | 1,24,153         | 1,36,422         | 1,50,434         | 1,75,535         | 1,92,920         |

Continued on page-2

(Rs. In crore)

| State             | 2012 (Actuals)   | 2013 (Actuals)   | 2014 (Actuals)   | 2015 (Actuals)   | 2016 (Actuals)   | 2017 (Actuals)   | 2018 (Actuals)   | 2019 (Actuals)   | 2020 (Actuals)   | 2021 (Actuals)   | 2022 (RE)   | 2023 (BE)   |
|-------------------|------------------|------------------|------------------|------------------|------------------|------------------|------------------|------------------|------------------|------------------|-------------|-------------|
| Andhra Pradesh    | 1,50,553         | 1,74,260         | 1,96,202         | 1,22,606         | 1,47,935         | 2,54,283         | 2,29,334         | 2,64,451         | 3,07,672         | 3,53,021         | 3,93,718    | 4,42,442    |
| Arunachal Pradesh | 3,949            | 4,272            | 4,709            | 6,165            | 5,717            | 5,670            | 6,969            | 8,431            | 12,125           | 14,077           | 14,478      | 15,457      |
| Assam             | 27,938           | 29,649           | 30,967           | 35,459           | 41,964           | 44,037           | 49,310           | 59,796           | 73,528           | 89,709           | 1,04,151    | 1,21,276    |
| Bihar             | 67,960           | 77,654           | 88,623           | 99,399           | 1,16,775         | 1,39,069         | 1,56,981         | 1,69,045         | 1,93,534         | 2,27,426         | 2,59,784    | 2,86,017    |
| Chhattisgarh      | 17,937           | 21,470           | 26,076           | 31,088           | 39,265           | 43,397           | 55,050           | 68,982           | 86,006           | 1,00,016         | 1,06,879    | 1,18,166    |
| Goa               | 9,951            | 11,254           | 13,277           | 14,087           | 15,651           | 16,903           | 18,642           | 20,500           | 22,646           | 26,613           | 28,441      | 31,758      |
| Gujarat           | 1,51,309         | 1,69,318         | 1,88,518         | 2,02,511         | 2,31,505         | 2,43,357         | 2,68,263         | 2,98,755         | 3,29,352         | 3,63,647         | 3,89,681    | 4,23,711    |
| Haryana           | 56,693           | 67,572           | 79,609           | 92,667           | 1,23,854         | 1,49,412         | 1,67,262         | 1,87,636         | 2,19,246         | 2,46,279         | 2,62,332    | 2,87,266    |
| Himachal Pradesh  | 28,232           | 29,432           | 33,878           | 38,182           | 41,197           | 47,244           | 51,030           | 54,303           | 62,218           | 68,896           | 72,278      | 80,816      |
| Jharkhand         | 31,356           | 35,059           | 37,840           | 43,742           | 57,049           | 67,350           | 77,586           | 83,878           | 94,505           | 1,09,271         | 1,16,518    | 1,29,464    |
| Karnataka         | 1,06,090         | 1,12,667         | 1,38,977         | 1,58,370         | 1,85,698         | 2,11,169         | 2,45,951         | 2,86,329         | 3,38,666         | 4,21,504         | 4,73,438    | 5,35,157    |
| Kerala            | 94,817           | 1,09,967         | 1,25,678         | 1,43,557         | 1,62,272         | 1,91,623         | 2,16,499         | 2,43,746         | 2,67,585         | 3,10,856         | 3,52,323    | 3,90,860    |
| Madhya Pradesh    | 80,977           | 89,472           | 96,359           | 1,08,753         | 1,27,714         | 1,56,066         | 1,73,137         | 1,95,178         | 2,11,489         | 2,90,859         | 3,26,918    | 3,78,617    |
| Maharashtra       | 2,45,795         | 2,82,010         | 3,09,327         | 3,21,806         | 3,51,441         | 3,96,001         | 4,32,479         | 4,38,842         | 4,80,955         | 5,48,348         | 5,96,689    | 6,80,357    |
| Manipur           | 6,503            | 6,820            | 7,089            | 7,392            | 8,147            | 8,831            | 9,565            | 10,463           | 11,406           | 13,061           | 14,399      | 15,917      |
| Meghalaya         | 5,368            | 5,262            | 6,586            | 6,912            | 7,525            | 9,244            | 10,158           | 11,348           | 12,321           | 14,705           | 15,761      | 17,433      |
| Mizoram           | 4,916            | 5,524            | 6,216            | 7,008            | 7,076            | 6,681            | 7,547            | 7,639            | 9,001            | 10,217           | 11,667      | 12,991      |
| Nagaland          | 6,750            | 7,440            | 8,352            | 7,946            | 8,923            | 9,562            | 10,399           | 11,640           | 13,836           | 15,254           | 15,060      | 16,562      |
| Odisha            | 47,848           | 49,178           | 50,471           | 50,878           | 65,218           | 71,984           | 1,03,066         | 1,05,685         | 1,43,800         | 1,41,240         | 1,29,356    | 1,13,856    |
| Punjab            | 82,858           | 92,282           | 1,02,298         | 1,12,393         | 1,34,130         | 1,82,584         | 1,95,174         | 2,11,940         | 2,29,630         | 2,59,266         | 2,82,456    | 3,05,047    |
| Rajasthan         | 1,06,612         | 1,18,635         | 1,28,187         | 1,48,091         | 2,09,861         | 2,55,472         | 2,81,663         | 3,11,854         | 3,53,182         | 4,11,001         | 4,58,089    | 5,37,013    |
| Sikkim            | 2,787            | 2,990            | 3,343            | 3,500            | 4,338            | 4,689            | 5,911            | 6,850            | 7,954            | 9,656            | 11,455      | 12,983      |
| Tamil Nadu        | 1,30,627         | 1,52,805         | 1,79,568         | 1,85,611         | 2,28,516         | 2,83,620         | 3,26,636         | 4,01,504         | 4,62,202         | 5,68,893         | 6,56,626    | 7,53,860    |
| Telangana         | -                | -                | -                | 72,658           | 90,523           | 81,821           | 1,60,296         | 1,90,203         | 2,25,418         | 2,71,259         | 3,14,136    | 3,66,306    |
| Tripura           | 6,559            | 7,666            | 8,736            | 9,327            | 10,354           | 11,852           | 13,384           | 15,086           | 18,179           | 21,491           | 22,844      | 26,446      |
| Uttar Pradesh     | 2,44,375         | 2,44,087         | 2,66,245         | 3,14,072         | 3,85,337         | 4,73,348         | 5,17,585         | 5,67,777         | 5,49,559         | 6,00,110         | 6,43,586    | 7,10,210    |
| Uttarakhand       | 24,846           | 26,868           | 30,305           | 34,037           | 40,292           | 44,508           | 53,071           | 59,387           | 67,545           | 75,249           | 80,111      | 88,483      |
| West Bengal       | 2,13,617         | 2,36,111         | 2,59,012         | 2,77,318         | 3,14,742         | 3,37,611         | 3,71,072         | 4,04,736         | 4,45,790         | 4,97,266         | 5,50,708    | 6,08,313    |

Source:

RBI report titled 'State finances: A study of budgets of 2022-23' and 'State finances: A study of budgets of 2014-15'.