Gujarat's public debt breaches Rs 2 lakh crore mark

With a steep rise of Rs 18,000 crore in one year, Gujarat's public debt stands at Rs 2,17,338 crore as per the revised estimates of 2017-18, the legislative assembly was informed Wednesday.

Responding to a written query raised by Congress MLA Kanti Parmar during Question Hour, Deputy Chief Minister Nitin Patel, who handles finance portfolio, said as per the revised estimates for 2017-18, Gujarat's owes Rs 2,17,338 crore as public debt, a rise of rise of Rs 18,000 crore from 2016-17.

Patel had informed the House that Gujarat's debt was Rs 1,99,338 as on March 2017.

In 2016-17, the state government paid Rs 16,087 crore as interest and Rs 9,073 crore towards principal against the borrowings by the state, Patel said in his written response.

As per the revised estimated of 2017-18, the state paid Rs 17,178 crore towards interest and Rs 13,701 crore as principal, it said.