Chief Minister Sukhwinder Singh Sukhu revealed on Friday that the Himachal Pradesh government has raised loans amounting to Rs 21,366 crore over the past 20 months and has repaid Rs 5,856 crore.
Details of Loans and Repayments
In a written response to BJP MLA Sudhir Sharma, CM Sukhu detailed the financials to the Assembly. The net loan raised by the government stands at Rs 15,502 crore. The loans were distributed as follows:
- Rs 6,897 crore from December 15, 2022, to March 31, 2023.
- Rs 10,521 crore during the fiscal year 2023-24.
- Rs 3,948 crore between April 1, 2024, and July 31, 2024.
The repayments were as follows:
- Rs 1,097 crore in 2022-23.
- Rs 3,481 crore in 2023-24.
- Rs 1,286 crore in 2024-25.
This brings the net borrowing to Rs 15,502 crore. Additionally, the net borrowing figures for the last three and a half months of 2022-23 were Rs 5,800 crore, Rs 7,040 crore for 2023-24, and Rs 2,662 crore for 2024-25.
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State’s Financial Condition and Challenges
Earlier in the Assembly session on Thursday, CM Sukhu highlighted the poor financial condition of the state. He noted that the Revenue Deficit Grant, which was Rs 8,058 crore, has been reduced to Rs 6,258 crore and is expected to decrease further by Rs 3,000 crore to Rs 3,257 crore by 2025-26.
Issues with Central Government Funds
CM Sukhu also pointed out that the central government has not disbursed any funds from the Rs 9,042 crore Post-Disaster Needs Assessment (PDNA). He mentioned that the NPS contribution from the PFRDA has not reached the state government, and GST compensation has been halted since 2022. The non-receipt of approximately Rs 9,200 crore NPS contribution and the cessation of GST compensation have led to a reduction of around Rs 2,500-3,000 crore in state revenue.
Criticism of Previous Government
The Chief Minister criticized the previous BJP state government for the current financial difficulties, stating, “The state’s situation is not good, and if anyone is responsible for this, it is the previous BJP government. They received around Rs 10,000 crore from the Revenue Deficit Grant, according to the 15th Finance Commission, and this grant has been decreasing since then.”
CM Sukhu’s statements reflect ongoing financial challenges faced by Himachal Pradesh and underline the impact of both state and central government financial policies on the state’s fiscal health.
(WITH INPUTS FROM ANI)
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