Market loan is lowest in last ten years, state own revenue receipt is Rs 3000 crore more than revenue receipt from centre: CM Baghel
Raipur: Chief Minister Baghel informed in the Vidhan Sabha that Chhattisgarh’s own revenue receipt is nearly Rs 3000 crore more the revenue receipt from the Center. Baghel also claimed that the market debt on the state government is the lowest compared to the last ten years. The state is the lowest among all the states after Odisha and Gujarat in debt liability as far as market debt is concerned, said the Chief Minister in the House.On financial management, Baghel claimed that the financial management of Chhattisgarh gives a sense of ‘feel good’ factor during the discussion on the supplementary budget on Friday. Baghel told the House that the revenue receipt of the state government is 79 thousand 688 crores, which includes 41 thousand crores of its own while 38 thousand 688 crores has been provided by the centre, i.e. the revenue achieved by the state government at its level. Baghel further said that in the year 2021-22 due to the decrease in revenue in the second wave of Covid, a market loan of 4 thousand crores was taken, out of which 3 thousand crores has been paid back and now this market debt is only one thousand crores, which is the lowest in the last ten years. Regarding the debt obligation on the state government, which is Rs 82961 crore, Baghel said, “The total debt liability as on March 31, 2022 is 82,961 crore, which is only 20.74 percent of the GSDP (4 lakh 61 crore). As recommended by the 15th Finance Commission, this ratio should be less than 25 percent. Chhattisgarh’s debt as a percentage of GSDP is the lowest among all states after Odisha and Gujarat. For the Government of India, this ratio is 48 percent, which is more than twice that of Chhattisgarh. The interest payment in the year 2021-22 is 5.657 crore, which is 7.10 percent as a percentage of revenue receipts (79 thousand 688 crore). As recommended by the 15th Finance Commission, this ratio should be less than 10 percent.
