Rajasthan's Debt Doubles Over Five Years Under Previous Government: Minister Manju Baghmar

Rajasthan minister Manju Baghmar revealed in the Assembly that the state's debt burden has more than doubled over the last five years under the previous government. She detailed how the debt increased from Rs 2,81,182 crore in 2017-18 to Rs 5,70,646 crore by 2023-24, significantly impacting the state's finances.

Rajasthan minister Manju Baghmar disclosed on Tuesday that the state’s debt has more than doubled within five years under the previous administration, reaching Rs 5,70,646 crore by 2023-24. This marks a significant increase from the Rs 2,81,182 crore debt recorded in 2017-18.

Addressing supplementary questions during the Assembly's Question Hour, Baghmar, who represented the Finance Minister, emphasized the severe financial implications brought about by the debt accumulation. She noted that the previous government borrowed more in the last five years than was borrowed in the state during the long span from 1951 to 2017-18.

She further explained that this borrowing surge escalated the debt-to-GSDP ratio to 37.44 per cent in 2023-24 from 33.77 per cent in 2017-18, despite the ongoing government's efforts to reduce it to 35.97 per cent in the current budget. Additionally, Baghmar affirmed the government's commitment to enhance health services with a budget allocation of Rs 27,660 crore, exceeding the national average.