Bhopal: Expressing concern over mounting debt on the Madhya Pradesh government, PCC chief Kamal Nath has said that per capita debt is Rs 30,000 in the state.
In a letter written to Chief Minister Shivraj Singh Chouhan on the financial health of the state, Nath has mentioned that by March 2021, the state has a loan of Rs 2.53 lakh crore, while the state’s annual budget is mere 2.41 lakh crore.
By securing loans for over one dozen and half times in last one year and half, the state has increased debt by around 49,800 crore on the state, said the senior leader. Alleging that state in last year alone paid Rs 16,500 crore in interests, Nath claimed that the burden of interests is mounting and the interest rate of 6.5-7% is also on the higher side.
The BJP government kept securing loans in 15 years of rule and now the per capita debt has surged to Rs 30,000, said the missive.
The former chief minister contested that the prices of commodities like petrol, diesel and liquor have skyrocketed letting the state exchequer earn handsomely but still the state government is securing loans persistently.
He claimed that due to fiscal mismanagement, the state’s growth has been stalled and debts have mounted. Nath said the public wants to know the exact fiscal status of the state and demanded a white paper on the same.
Hitting back at the Kamal Nath government, Medical Education minister Vishwas Sarang said that in Kamal Nath’s tenure in power, a parallel government used to run and indulge in massive corruption. Kamal Nath government had pledged loans but made no progress, he added saying the fiscal management is better presently but the economic status is hampered due to policies of then Kamal Nath government.
Madhya Pradesh levies heavy taxes and duties on the petrol, diesel, cooking gas and liquor.
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