Orissa’s debt burden is at 50,000 crores now: Samaja
Loans June 13th. 2009, 3:27pmI think the fact that the debt has doubled in 10 years is not necessarily a concern. My guess is that the annual budget of Orissa has probably quadrapled during that time. (As a related data point, the planning commission outlay for Orissa was Rs 5105 crores in 2007-08 and is Rs 9500 crores in 2009-10.) That plus the recent debt swap they did to reduce the intetrest rates means the percentage of annual budget going towards debt servicing has reduced. Nevertheless, the government should be concerned about the size of the debt.