Gujarat owes over Rs 2.40 lakh crore in public debt

With a steep rise of over Rs 23,000 crore in one year, Gujarat's public debt now stands at Rs 2,40,652 crore as per the revised estimates of 2018-19, the Legislative Assembly was informed on Wednesday.

Responding to a written query raised by Congress MLA Niranjan Patel during the Question Hour, Deputy Chief Minister Nitin Patel, who handles the Finance portfolio, said in his written reply that as per the revised estimates for 2018-19, Gujarat owes Rs 2,40,652 crore, a rise of Rs 23,314 crore from 2017-18.

Gujarat's debt was Rs 2,17,338 crore in 2017-18.

On Tuesday, Patel had presented the state Budget for 2019-20 with an overall size ofRs 2,04,815 crore.

Responding to a sub-question related to the interest paid on loans taken by the government in the last two years, Patel said that in 2017-18, the state government had paid Rs 17,178 crore as interest and Rs 13,701 crore as principal amount against the loans taken by it.

In 2018-19, the state paid Rs 18,124 crore as interest and Rs 15,440 crore as principal, he added.