Shimla | TNR
The Himachal government is all set to borrow Rs 1000 cr from the Reserve Bank Of India. This loan will basically serve to disburse the 6% DA that the government has announced for all government employees and pensioners. Approximately 2 lakh employees and 1 lakh pensioners of the state will benefit from this loan. The loan will have to be repaid within 11 years, that is by 2032.
Current debt is Rs 60,500 crores
The government is already burdened with a debt amounting to Rs 60,500 crores. This loan which is being taken after a gap of five months will increase the state government’s total debt amount to Rs 61,500 crores.
Low revenues have worsened the financial situation of the state to the extent that it now has to take additional loans to close loans taken in the past. However, the only positive note is that, due to ample aid from the Centre and an increase in revenue during the past five months, the state government did not have to take a loan during the current financial year. In fact, this is the first time in 2021-22 that the government will be taking a loan.