Tripura has an outstanding loan of Rs 21,687.07 cr: Finance Minister Pranajit Singha Roy
First Published: 21st September, 2023 20:34 IST
The state government needs to pay Rs 1,373.52 Crores in annual interest, along with a loan repayment of Rs 991.66 crores
Tripura’s financial situation has come into the spotlight as the state’s Finance Minister Pranajit Singha Roy shared some key numbers today.
The state currently has an outstanding loan of Rs 21,687.07 crores.
The state government needs to pay Rs 1,373.52 crores in annual interest, along with a loan repayment of Rs 991.66 crores.
Minister Singha Roy made these details public during a press conference at the secretariat on Thursday, along with Finance Secretary Apurba Roy and Additional Secretary Akinchan Sarkar.
The government has been working hard to secure funds for state development and welfare projects. It’s important to note that some of the loans obtained by the state are interest-free, but the combined yearly interest on these loans has reached Rs 2,365.18 crores.
The Finance Minister also reminded everyone that when the Bharatiya Janata Party (BJP) came to power in 2018, after the 25-year rule of the CPIM-led Left Front government, the state’s inherited debt was Rs 12,902.73 crores.
Singha Roy highlighted the significant changes in Tripura’s finances in recent years. In the 2017-18 fiscal year, the state’s budget was Rs 15,956.56 crores, and the Gross State Domestic Product (GSDP) was Rs 43,716 crores.
However, in the fiscal year 2022-23, the budget has increased to Rs 26,892.67 crores, and there has been a 70% rise in the GSDP, which now stands at Rs 74,100 crores.
This announcement coincided with the news of festival grants and festival advances for government employees in various categories, including Group C and D, Integrated Child Development Services (ICDS) workers, Special Police Officers (SPOs), and home guards.
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