According to the CAG audit report on the state finances, the ratio of fiscal liabilities to gross state domestic product showed an increasing trend and rose from 20.33 per cent in 2014-15 to 26.05 per cent in 2018-19.
Haryana’s overall fiscal liabilities were over Rs 1.84 lakh crore, as on March 31, 2019, according to a CAG report.
Overall fiscal liabilities of the state were Rs 1,84,216 as on March 31, 2019, a report of the Comptroller and Auditor General (CAG) of India for the year ended March 31, 2019 and tabled in the Haryana Assembly on Wednesday said.
According to the CAG audit report on the state finances, the ratio of fiscal liabilities to gross state domestic product (GSDP) showed an increasing trend and rose from 20.33 per cent in 2014-15 to 26.05 per cent in 2018-19.
“These liabilities were 2.80 times the revenue receipts and 3.64 times the state’s own resources as at the end of 2018-19,” the report tabled during the one-day session said.
The internal debt of the state government increased by Rs 96,825 crore from Rs 58,143 crore in 2014-15 to Rs 1,54,968 crore in 2018-19, which was up by 167 per cent, it said.
“An interest of Rs 11,988 crore was paid on internal debt during 2018-19,” the report said.
Notably, the budget estimates this year have pegged the state debt liability at over Rs 1.98 lakh crore at the end of the current 2020-21 fiscal.
The report further said that Haryana continued to be a revenue deficit state. “The revenue deficit of Rs 11,270 crore was 17 per cent of revenue receipts during 2018-19 indicating that revenue receipts of the state government were not sufficient,” the report points out.
Source:-financialexpress.com