{"id":10639,"date":"2024-06-14T14:45:54","date_gmt":"2024-06-14T14:45:54","guid":{"rendered":"https:\/\/exam.pscnotes.com\/current-affairs\/?p=10639"},"modified":"2024-06-14T14:45:54","modified_gmt":"2024-06-14T14:45:54","slug":"debt-burden-on-upto-touch-rs-7-84l-cr-by-end-of-next-fiscal","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/current-affairs\/debt-burden-on-upto-touch-rs-7-84l-cr-by-end-of-next-fiscal\/","title":{"rendered":"Debt burden on UPto touch Rs 7.84L cr by end of next fiscal"},"content":{"rendered":"

The total debt burden on the Uttar Pradesh government is estimated to touch Rs 7.84 lakh crore by the end of next fiscal 2023-24 commencing from April 1. The exceeds the size of the annual budget of 2023-24, which is Rs 6, 90 lakh crore. The Reserve Bank Of India<\/a> has flagged the state governments against the rising debt burden.<\/p>\n

Although UPs debt burden has fallen to 32.1% of the gross state domestic product (GSDP) in 2023-24, compared to 34.2% in revised estimates for 2022-23, the sovereign debt in absolute terms is estimated to jump from Rs 7 lakh crore to Rs 7.84 lakh crore during the period.<\/p>\n

According to the UP Annual Budget (2023-24), the nominal UP GSDP has been estimated at Rs 24.39 lakh crore in 2023-24.<\/p>\n

Interestingly, the estimated public debt of Rs 7.84 lakh crore exceeds the UP Annual Budget of Rs 6.90 lakh crore by Rs 94,000 crore or nearly 14%. In 2022, the RBI had raised concerns over a built-up financial Stress<\/a> in several states and suggested corrective steps in the five most indebted provinces.<\/p>\n

Although UP does not figure among the top indebted states in India, the state witnessed its public debt ratio shoot past 30% of the GSDP during the pandemic years, owing to difficult economic conditions and muted tax collection, a phenomenon which was pan-Indian as well as global following Covid-19 exigencies.<\/p>\n

While UP had successfully tamed the public debt ratio below 30% till 2020-21, it increased to 33.4% and 34.2% during the 2021-22 and 2022-23 (revised estimates) fiscal years, respectively, due to the pandemic.<\/p>\n

Meanwhile, UP is estimated to receive about Rs 71,200 crore (2.9% of GSDP) in loans from the Centre during 2023-24, compared to Rs 51,860 crore (2.5% of GSDP) during 2022-23.<\/p>\n","protected":false},"excerpt":{"rendered":"

The total debt burden on the Uttar Pradesh government is estimated to touch Rs 7.84 lakh crore by the end of next fiscal 2023-24 commencing from April 1. The exceeds the size of the annual budget of 2023-24, which is Rs 6, 90 lakh crore. The Reserve Bank Of India has flagged the state governments … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1089],"tags":[884],"class_list":["post-10639","post","type-post","status-publish","format-standard","hentry","category-uttar-pradesh","tag-18-03-23"],"yoast_head":"\nDebt burden on UPto touch Rs 7.84L cr by end of next fiscal - Current Affairs Exam<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/current-affairs\/debt-burden-on-upto-touch-rs-7-84l-cr-by-end-of-next-fiscal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Debt burden on UPto touch Rs 7.84L cr by end of next fiscal\" \/>\n<meta property=\"og:description\" content=\"The total debt burden on the Uttar Pradesh government is estimated to touch Rs 7.84 lakh crore by the end of next fiscal 2023-24 commencing from April 1. 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The exceeds the size of the annual budget of 2023-24, which is Rs 6, 90 lakh crore. The Reserve Bank Of India has flagged the state governments ... 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