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The per capita loan burden in Odisha has witnessed more than two-fold rise in the last 10 years, informed Finance Minister Niranjan Pujari in the State Legislative Assembly on Monday.
Addressing the House during the on-going monsoon session of the State legislature, Pujari said, “The per capita loan burden has increased to Rs 23,761 in 2021-22 as against Rs 9,144 in 2011-12.”
“By the end of this year, the State's total debt burden will increase to Rs 1,22,917 crore,” the Finance Minister said in the Assembly.
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Reacting to the Minister’s disclosures, financial expert Rajib Sahoo said, “The budget size has increased significantly in 2021 as compared to 2011. Most importantly the State budget has grown more than two times over the years.”
“The second criteria is how we are using the debts and the returns we are getting out of it. Moreover, we are below 25 per cent as per the Fiscal Responsibility and Budget Management (FRBM) norms. We must not be worried about the figures as the State’s revenue is also increasing and the loans are being invested wisely,” Sahoo added.
(The story will be updated.)
