State faces debt burden of Rs 57,848 crore: CM
| Date :26-Feb-2020 |
Bhupesh Baghel
Staff Reporter :
Raipur,
Chhattisgarh is facing a debt burden of Rs 57,848 crore, Chief Minister Bhupesh Baghel informed the State Assembly on Tuesday. The Chief Minister, who also holds the finance portfolio, stated this in reply to a question asked by BJP MLA Ajay Chandrakar who wanted to know the status of loan taken by the State Government between December 1, 2018 and January 31, 2020, rate of interest and institutions who gave loan and the time period and the debt burden on State.
The Chief Minister said that fund was withdrawn in the form of market loan through Reserve Bank of India, loan was taken under Rural Infrastructure Development Fund of NABARD, and from Asian Development Bank/World Bank. Furnishing details of the debt, the Chief Minister said that Rs 202.24 crore loan was taken from National Agriculture and Rural Development Bank (NABARD) with rate of interest 5.25 per cent in December 2018 followed by Rs 156.76 crore from ADB/World Bank through Central Government.
A total of Rs 16,400 crore loan was withdrawn in the form of market loan through Reserve Bank between December 1, 2018 and January 31, 2020 and the rate of interest was varying from 7.03 to 8.18%. The time period of loan was varying from 2 years to 10 years. Similarly, Rs 934.38 crore loan was taken from NABARD between the above mentioned period and the rate of interest on loan varies from 3.90 to 5.25 per cent. The time period for loan was seven years. Rs 394.74 crore loan was taken from ADB/World Bank through Central Government during December, 2018 and January 31, 2020. A total of Rs 17,729 crore loan was taken by Chhattisgarh from December 1, 2018 to January 31, 2020, said the Chief Minister.