Maharashtra debt stock touches Rs 7 lakh crore

Maharashtra’s debt stock and interest is hovering around a level of Rs seven lakh crore even as the state’s economy is expected to grow by 6.8 per cent.

According to the Economic Survey of Maharashtra 2022-23 which was tabled in the legislature on Wednesday, the debt stock currently stood at Rs 6,49,699 crore (business estimate) while the interest due was Rs 46,763 crore.

In 2021-22, the debt stock was Rs 5,72,379 (revised estimate) while the interest component was Rs 41,287 crore.

The debt stock refers to the accumulated outstanding loans and other liabilities of the State.

The debt stock of the State to the tune of Rs 6,49,699 crore and its percentage with the GSDP is well within the prescribed limit (25 percent of GSDP) as per the ‘Medium Term Fiscal Policy, Fiscal Policy Strategy Statement And Disclosures For Maharashtra 2022-23’.

As per the advance estimates, during 2022-23 the State economy is expected to grow by 6.8 per cent and the Indian economy is expected to grow by 7 per cent.

During 2022-23, the agriculture and allied activities sector is expected to grow by 10.2 per cent, the industry sector is expected to grow by 6.1 per cent and the services sector is expected to grow by 6.4 per cent for the State.

As per the advance estimates, nominal (at current prices) Gross State
Domestic Product (GSDP) for 2022-23 is expected to be Rs 35,27,084 crore and real (at constant 2011-12 prices) GSDP is expected to be Rs 21,65,558 crore.

The per capita State Income for 2021-22 is Rs 2,15,233 as against Rs 1,83,704 for 2020-21.