Maharashtra debt stock to rise to 17.3 pc of GSDP; to be within prescribed 25 pc limit

Mumbai, Mar 7 (PTI) The debt stock of Maharashtra is expected to increase by 10.1 per cent over the previous year and will stand at 17.3 percent of the Gross State Domestic Product (GSDP), which will be within fiscal and budgetary norms, as per the economic survey tabled in the state legislature on Friday.

Debt stock of 17.3 per cent will be within the prescribed limit of 25 per cent of GSDP, it said.

The survey said the debt stock currently stood at Rs 7,82,991 crore as per budget estimates, while interest due was Rs 56,727 crore.

The major contributor of total debt stock, at 81.4 per cent, is internal debt, which is expected to be Rs 6,37,141 crore, while the revenue deficit, fiscal deficit and primary deficit are expected to be Rs 20,051 crore (0.4 per cent of GSDP), Rs 1,10,355 crore (2.4 per cent of GSDP) and Rs 53,628 crore (1.2 per cent of GSDP), respectively.

The survey said the state was adhering to the Maharashtra Fiscal Responsibility & Budgetary Management (MFRBM) Rules 2006 on fiscal consolidation. PTI MR BNM

Source: PTI