JK’s outstanding debt surges to Rs 16,500 cr

Pays Rs 11,400 cr interest in 9 years

PRESS TRUST OF INDIA

Jammu, Mar 19: The state’s total outstanding debt has more than doubled to Rs 16,471 crore between 2001-02 and 2008-09, finance minister Abdul Rahim Rather said today.
Rather in the assembly here gave the details of outstanding debt of the state government and said Rs 7,414.58 crore was debt in 2001-2002 and it has surged to Rs 16,471.29 crore in 2008-09.
In 2000-01, the internal debt was Rs 3,032.29 crore said the minister, which has now gone up to Rs 13,335.73 crore.
However, the outstanding debt has dropped significantly from Rs 4,382.29 crore in 2000-01 to Rs 3,135 crore in 2008- 09, Rather said.
The Jammu and Kashmir government has paid Rs 11,407 crore as interest for the period between 2000-01 and 2008-09, he informed.
Out of this, the government has paid Rs 1,307.92 crore as interest to J&K Bank for overdrafts taken by the state for meeting its needs.
Giving break-up, he said Rs 8,382.37 crores was the outstanding debt in 2002-03 followed by Rs 8,903.83 crore in 2003-04, Rs 9,699.52 crores in 2004-05, Rs 11,009.87 crore in 2005-06, Rs 12,149.93 crore in 2006-07, Rs 14,226.09 crore in 2007-08 and Rs 16,471.29 crore in 2008-09.

Lastupdate on : Fri, 19 Mar 2010 21:30:00 Makkah time
Lastupdate on : Fri, 19 Mar 2010 18:30:00 GMT
Lastupdate on : Sat, 20 Mar 2010 00:00:00 IST



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