The debt obligations totalled Rs 3,02,620.01 crore for the fiscal year. It does not include the Rs 5,766 crore in back-to-back loans facilitated by the central government
Digital Desk: The state government's debt obligations increased to 39.87 percent of the GSDP in 2020-21, according to the Comptroller and Auditor General's (CAG) annual accounts tabled in the assembly on Friday, The debt obligations totalled Rs 3,02,620.01 crore for the fiscal year. It does not include the Rs 5,766 crore in back-to-back loans facilitated by the central government to make up for the GST compensation shortfall. Also Read: An ISKCON temple was vandalized in Noakhali city in Bangladesh The Fiscal Responsibility Act of 2003 and the Fiscal Responsibility (Second Amendment) Ordinance of 2020 required the state to reduce total debt liabilities to 29.67 percent of GSDP. According to the report, the percentages of revenue deficit, fiscal deficit, and debt liabilities were higher than the targets set by the Act and rules. The other targets were to eliminate the revenue deficit completely and to maintain the fiscal deficit to 3% of the GSDP. But the revenue deficit and fiscal deficit for the year were 3.40% and 5.40% respectively. The total receipt was Rs 1,38,884.49 crore, which comprised revenue receipts of Rs 97,616.83 crore and capital receipts of Rs 41,267.66 crore. Tax revenue totaled Rs 59,221.24 crore, non-tax revenue totaled Rs 7,327.31 crore, and grant-in-aid totaled Rs 31,068.28 crore. GST collection was Rs 20,028.31 crore in 2018-19, down from Rs 20,446.95 crore in 2019-20, a drop of Rs 418.64 crore (2.05 percent ).
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