{"id":9715,"date":"2024-06-14T14:28:12","date_gmt":"2024-06-14T14:28:12","guid":{"rendered":"https:\/\/exam.pscnotes.com\/current-affairs\/?p=9715"},"modified":"2024-06-14T14:28:12","modified_gmt":"2024-06-14T14:28:12","slug":"odishas-debt-rises-but-within-stipulated-limit","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/current-affairs\/odishas-debt-rises-but-within-stipulated-limit\/","title":{"rendered":"Odisha’s debt rises but within stipulated limit"},"content":{"rendered":"

The debt level of Odisha is now within stipulated limit and it is expected to increase by 4% by the end of financial year 2026-27, according to a status paper published by the Odisha Finance Department on .<\/p>\n

As per the report, the total outstanding public debt of the State as per the revised estimate for the financial year 2022-23 stood at Rs 97,037 crore which is 12.7% of the States Gross Domestic Product (GSDP). Over the next three years, total public debt is expected to increase to approximately 16.7% of GSDP in 2026-27, which will be within the stipulated limit of 25%.<\/p>\n

The Fifteenth Finance Commission<\/a> and Odisha FRBM Act<\/a>, 2005 prescribe for limiting the debt to GSDP ratio within 25%. The current debt level of Odisha is within the stipulated debt limit. Besides, the debt stock is considerably lower than that of the Central Government which is 57% of GDP as per the Union Budget.<\/p>\n

The Government has expected that the total debt stock will increase to Rs 1,12,882 crore by the end of FY 2023-24 and again it will go up to Rs 1.40 lakh crore in 2024-25, Rs 1.72 lakh crore by 2025-26 and may rise to Rs 2.09 lakh crore by the end of 2026-27.<\/p>\n

The Odisha Government has not resorted to open market borrowing during 2022-23 because of funds from other low cost sources like the Odisha Mineral Bearing Areas Development Corporation (OMBADC) and Compensatory Afforestation Fund Management and Planning Authority (CAMPA).<\/p>\n

The loan from these dedicated funds is available at interest rates 2 to 2.5% lower than the open market borrowing (OMB). The State Government<\/a> can borrow up to 60 percent of the surplus fund available in these funds.<\/p>\n

The open market borrowing stood at Rs 24,058.07 crore. As per 2022-23 revised estimate, the share of open market borrowing in total debt of the State is around 24.8%. The share of the open market borrowing has gone down from 30% in FY 2021-22 to 24.8% in FY 2022-23 and is expected to decrease further in the coming financial year.<\/p>\n","protected":false},"excerpt":{"rendered":"

The debt level of Odisha is now within stipulated limit and it is expected to increase by 4% by the end of financial year 2026-27, according to a status paper published by the Odisha Finance Department on . As per the report, the total outstanding public debt of the State as per the revised estimate … 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":[1101],"tags":[835],"class_list":["post-9715","post","type-post","status-publish","format-standard","hentry","category-odisha","tag-15-06-23"],"yoast_head":"\nOdisha's debt rises but within stipulated limit - 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\/odishas-debt-rises-but-within-stipulated-limit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Odisha's debt rises but within stipulated limit\" \/>\n<meta property=\"og:description\" content=\"The debt level of Odisha is now within stipulated limit and it is expected to increase by 4% by the end of financial year 2026-27, according to a status paper published by the Odisha Finance Department on . 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