State government taking loan within 3 percent limit of GSDP : CM Khattar

Haryana Chief Minister Manohar Lal Khattar on Feb 26 said that the ratio of loans taken by the state government is within the limit of 3 percent of GSDP. As the GSDP of the state increases in line with development, the limit of taking loans also increases proportionately.

The state government is borrowing within that limit as much as is required according to the ratio of GSDP, informed Manohar Lal while speaking on the discussions on budget estimates for the fiscal year 2024-25 during the ongoing budget session of the Haryana Vidhan Sabha today.

The Chief Minister said that Congress leaders always claim that the debt figures of their time was Rs. 70,000 crores but they never add the debt of DISCOMs which is Rs. 27,000 crores. The present State Government had set a target to clear this Rs. 27,000 crores in five years, and by next five years this debt will be paid off, he said.

He said that if Congress leaders do not include this amount of Rs. 27,000 crores in their debt, then we will also have to reduce this amount and share the debt figures accordingly. Besides this, Rs. 17,000 crores have also been reduced from the debt of public sector undertakings of the previous government, said Manohar Lal.

The Chief Minister said that as per the Finance Commission, the government can borrow up to 3 percent of GSDP. During COVID-19, this limit was increased to 3.5 percent. Even then, the state government remained below 3 percent. As much as borrowings are required according to the ratio of GSDP, the state government is taking loans within that limit.