gross state domestic product: Odisha’s debt stock touches Rs 83,307 crore | Bhubaneswar News

BHUBANESWAR: Odisha’s overall debt stock is estimated at Rs 83,307 crore by September-end, which is 15.04 per cent of the gross state domestic product (GSDP).
In 2019-20 financial year, the state government has so far borrowed Rs 3,500 crore from the open market sources like various banks and financial sources.
“We are going for open market borrowing to invest in infrastructure projects. Our borrowing limit is well within the Fiscal Responsibility and Budget Management (FRBM) norms,” said finance secretary finance secretary Ashok Kumar Meena.
While the FRBM norms allows any state to borrow up to 25 per cent of the GSDP amount, Odisha’s debt stock 15.04 per cent of the GSDP.

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