Odisha: Government debt to touch 1.25lakh-crore by the end of 2021-22 fiscal year

Odishas overall debt stock by the end of 2021-22 financial year is estimated to touch Rs 1.25 lakh crore, which indicates increasing loan burden on the states finances, revealed the budget documents tabled.

As the states revenue collection from own tax and non-tax sectors and fund flow from the Centre under shared tax and grants-in-aid are not adequate to meet the budgetary requirements, the generally goes for borrowing.

During the 2021-22 financial year, the state government has targeted to borrow a major amount of Rs 18,000 crore from open market and Rs 16,186 crore from sources like Odisha Mineral Bearing Areas Development Corporation (OMBADC) and Compensatory Afforestation Fund Management and Planning Authority (Campa) funds.