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Every UP Citizen Has A Debt Of Rs 18,882

 Agencies |  2017-07-11 16:26:38.0  0  Comments

Every UP Citizen Has A Debt Of Rs 18,882

Lucknow: Every resident of Uttar Pradesh has a debt of Rs 18,822 on his or her head as the debt burden of the state government is expected to reach Rs 414094.01 crore by the end of this fiscal. The personnel debt of each citizen which was around Rs 17,035 in the past year of 2016-17 when the total debt on the state was around Rs 374774.57 crore. Thus within a year, each citizen's debt rose by Rs 1,787. In 2015-16 the debt on every individual in the state was Rs 14,724 when the total debt on the state was Rs 323935.66 crore while in 2014-15 it was Rs 13341 in 2014-15 when the state's debt was Rs 26, 68020.69 crore. With a population touching 220 million, the state's debt burden, has climbed to is expected to come down to 28.6 per cent from 30 per cent of the Gross State Domestic product(GSDP) in 2016-17 which was 29.5 per cent in 2015-16. Chief Minister Yogi Adityanath, claimed that the debt has come down below 30 per cent which is a good sign for the state finance. The details of the state debt was disclosed in the state budget details for 2017-18, which was tabled in the state assembly today. Of the total expected loans of the UP government during the coming fiscal, the highest would be from the market borrowing of Rs 204515.29 crore which is 14.1 per cent of the total loans. UP government is also expecting a loan of Rs 13250 crore from the Centre, Rs 10607.95 crore from financial institutions and Rs 49674.02 crore from power bonds. According to the budget statistics, the total revenue of Rs 377190.88 crores to be generated by the state during 2017-18, with the highest of 29.8 per cent coming from the state taxes, 32.3 per cent of the share from Central taxes and 18.2 per cent from the Central assistance. The government will also collect 12.7 per cent of the revenue from public loans. With a total expenditure of Rs 38,4659.71 crore, the highest 35 per cent is spent for payment of wages, pension and allowances to the government employees and aided educational institutions and pension. The state will also spend 8.9 per cent of the funds to pay the interest on the loans, 3.2 per cent to pay back the loans while 14.2 per cent will be spent on capital expenditure. UNI

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