Odisha takes Rs 2200 crore loan from open market this year:FM

Odisha's debt burden was Rs 54,006.20 crore by August-end and it could reach Rs 64,991.83 crore by end of 2016-17 fiscal, state Finance Minister Pradip Kumar Amat told the Assembly.
The Finance Minister in a written reply said as per CAG's preliminary report, the loan burden on the state by end of August this year was Rs 54,006.20 crore.
Amat, however, said that the loans being taken from the open market are being utilised in the capital asset creation in the state.
The state government by August 31, 2016, has borrowed Rs 2,200 crore from the open market at different rates of interest like 7.5 per cent, 7.57 per cent and 8 per cent.

Similarly, loans have also been taken in the ongoing fiscal by the state from different sources like the Union government (Rs 431.83 crore at the interest rate of 0.75 per cent to 2.75 per cent), NABARD (Rs749.74 at the rate of interest of 5.5 per cent) and Provident Fund (Rs191.87 per cent at the rate of 8.1 per cent), Amat informed.