Odisha total loan burden is Rs 54,006.20 crore by August 2016

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Finance Minister Pradip Kumar Amat informed in the State Assembly, total loan burden of Odisha by August 31, 2016 was Rs54,006.20 crore and it would increase to Rs64,991.83 by this fiscal-end.

The primary report of the Comptroller and Auditor General of India (CAG) revealed this, stated Amat in response to a question of BJP MLA Dilip Ray.

During this year by August 31, the State has borrowed Rs431.83 crore at variable interest rates from the Union Government, Rs2,200 crore from open market at interest rates of 7.50, 7.57 and 8.0 per cents.

Rs749.74 crore from the National Bank for Agriculture and Rural Development (Nabard) at 5.50 per cent interest and Rs191.87 crore at 8.10 interest.

In response to a related question of BJD MLA Amar Prasad Satpathy, the Minister informed that the State Government had borrowed Rs3,000 crore and Rs4472,82 crore in 2014-15 and 2015-16, respectively.

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