Gujarat's debt stands at Rs 3,15,455 crore, around 19 pc of GSDP: CAG report

In 2015-16, the debt to GSDP ratio was 21.49 per cent, the report revealed.The report said the total debt of the state increased from Rs 2,21,090 crore in 2015-16 to Rs 3,15,455 crore in 2019-20, a rise of Rs 94,365 crore in four years.

The State Finance Audit Report of the Comptroller and Auditor General of India (CAG) tabled in the Gujarat Assembly on Tuesday showed that the outstanding debt of the state was Rs 3,15,455 crore for 2019-20.

The CAG report, however, noted that the debt of Rs 3,15,455 crore was 18.96 per cent of the Gross State Domestic Product (GSDP), which was well within the limit of 25.76 per cent recommended by the 14th Finance Commission. In 2015-16, the debt to GSDP ratio was 21.49 per cent, the report revealed.

The report said the total debt of the state increased from Rs 2,21,090 crore in 2015-16 to Rs 3,15,455 crore in 2019-20, a rise of Rs 94,365 crore in four years. The per capita income of Gujarat, at Rs 2,54,789 during 2019-20, was higher than the all-India average of Rs 1,51,677, the report said, adding that the state had achieved all the targets of major fiscal variables set under the Gujarat Fiscal Responsibility Act, 2005.

Gujarat has seen revenue surplus since 2011-12, the CAG report said. While revenue expenditure of the state increased by 6.11 per cent in comparison to 2018-19, capital expenditure decreased by 8.60 per cent in 2019-20, it said.

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