Sukhu govt takes Rs 34,000 cr loan after coming to power, Rs 1,300 cr in last 2 months alone
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Despite Chief Minister Sukhvinder Singh Sukhu’s claims that the state’s financial condition is stable and there is no need for an overdraft, the Himachal Pradesh government has taken loans amounting to over Rs 34,000 crore after assuming power.
Recent figures reveal that the Congress government borrowed Rs 1,300 crore in the last two months alone, leaving the state with only Rs 1,017 crore in loan capacity until December 2024.
Rs 5,864 crore debt already repaid
Since taking office, the Sukhu government has borrowed over Rs 34,000 crore, though Rs 5,864 crore of this debt has already been repaid by August 31. The government also took Rs 2,810 crore in loans against the general provident fund (GPF) during the same period.
In September, the government secured a loan of Rs 700 crore, followed by an additional Rs 600 crore in October, totaling Rs 1,300 crore over two months. If the government uses its remaining loan limit of Rs 1,017 crore by December, the state’s debt figure could reach Rs 44,000 crore. With an estimated repayment of Rs 10,000 crore, the net loan figure will still stand at Rs 34,000 crore.
Also Read : https://thenewzradar.com/general-house-of-himachal-secretariat-employees-today-these-demands-likely-to-be-raised-with-govt/
Loans disclosed in Assembly
In the monsoon session of the Himachal Pradesh Assembly, the Sukhu government provided details of its borrowing. From December 15, 2022, to July 31, 2024, the government borrowed Rs 21,366 crore and repaid Rs 5,864 crore. The breakdown shows that Rs 6,897 crore was borrowed between December 15, 2022, and March 31, 2023, with Rs 1,097 crore repaid during this period.
From April 1, 2023, to March 31, 2024, the government borrowed Rs 10,521 crore and repaid Rs 3,481 crore. Between April 1 and July 31, 2024, an additional Rs 3,948 crore was borrowed, with Rs 1,286 crore repaid. The government has also taken Rs 2,810 crore in loans against GPF, all within legal borrowing limits.
Sukhu blames ex-CM Jai Ram for fiscal mess
While announcing a 4% hike in dearness allowance (DA) for government employees and pensioners, CM Sukhu reiterated his vision to make Himachal Pradesh self-reliant by 2027 and the most prosperous state in India by 2032. The CM, however, laid part of the blame for the state’s rising debt on the previous BJP government, accusing the previous Jai Ram Thakur administration of financial mismanagement.
CM Sukhu pointed out that the BJP-led government distributed freebies worth Rs 5,000 crore in its final days and left behind unpaid dues for employees, despite having a revenue surplus. The financial burden, according to Sukhu, has been inherited by the current Congress government, contributing to the need for increased borrowing.
