The report of the Comptroller and Auditor General (CAG) has revealed that the Haryana government is paying the interest on its old loan by taking a new loan. On September 1, CAG presented its report in the Haryana Assembly. It said that between 2020 and 2025, the Haryana government used 53 to 67 percent of its existing debt to repay the old debt. Whereas from 2015 to 2020, only 19 to 50% of the funds were spent in repaying the loan.
CAG said in its report, 'In the year 2024-25, only 14% of the current debt was used for capital expenditure. The loan was being used for current consumption and repayment of old debt instead of capital expenditure.
Also read: Operation Ashdar: Big success for Army in Kashmir, Pakistani terrorist Yasir killed
According to the report, the internal debt of Haryana has increased to Rs 3.11 lakh crore in the financial year 2024-25. Whereas five years ago in 2020-21 it was Rs 2.04 lakh crore. It clearly means that Haryana's internal debt has increased by Rs 1.07 lakh crore in five years, which is an increase of 52.24 percent. The government paid interest of Rs 21,936 crore on internal debt in the financial year 2024-25.
Let us tell you that internal debt includes market debt, advances received from RBI, special securities of National Small Savings Fund and loans received from financial institutions. Apart from this, the government spent Rs 11,639 crore in subsidy in 2024-25, whereas in 2020-21 this amount was Rs 7,650 crore.
According to the report, Haryana's outstanding fiscal liabilities will reach Rs 3.61 lakh crore in 2024-25. Whereas in 2015-16 it was Rs 1.21 lakh crore. Of the public debt, Rs 3.16 lakh crore is outstanding.
Also read: Jheeram Valley attack: Court's verdict on 31 deaths after 13 years, 10 accused guilty
Out of the loan that Haryana government has to repay between 2024-25 to 2034-35, Rs 23,959 crore has to be repaid in 2025-26. Apart from this, another loan of Rs 1.28 lakh crore also has to be repaid. There is a liability of Rs 1.64 lakh crore between 2026-27 to 2031-32. Haryana will have to pay about Rs 21,725 crore every year in repayment of public debt for the next seven years i.e. till 2032.