Assam govt's outstanding debt rises 107% in 5 years from FY19: CAG
The Assam government's outstanding debt increased by over 107 per cent from 2018-19 to 2022-23 with the growth rate of outstanding liability also rising during the period, a Comptroller and Auditor General (CAG) report said on Friday.
The report for the 2022-23 fiscal, which was tabled in the assembly, noted that the capital expenditure by the state government decreased by over 20 per cent in FY'23 as compared to 2021-22.
The outstanding debt of the state "rapidly increased by 107.34 per cent from Rs 59,425.61 crore in 2018-19 to Rs 1,23,214.80 crore in 2022-23", the report said, adding that the growth rate of outstanding liability also increased from 20.60 per cent in 2018-19 to 23.32 per cent in 2022-23.
The outstanding liabilities-GSDP ratio also rose from 19.21 per cent in 2018-19 to 24.98 per cent in FY'23 due to increased borrowings from the open market, the auditor said.
The public debt constituted 81.98 per cent of the total borrowing at the end of 2022-23.
During the year