HP’s public debt mounts to Rs. 6,78,88.30 Cr by fy 2020-21: CAG

Comptroller and Audit General report on state finicial position laid in the Assembly here today figured the state’s labilities and public debt tunes to Rs 67888.30 crore as on March 31, 2021 which shows increased tunes to Rs 6439.11 cr compared to previous finincial year 2019-20. Chief Minister Jai Ram Thakur holds the portfolio of finance presented CAG report on Finicial status. The report said that state borrowing on account of internal debt mounted to Rs 4, 2918.21 Cr, Loans for staye plan scheme Rs 3259.03 Cr. Report said that Public Labilities on public account in small savings and Provident funds mounted tune to 16522.64 Cr., Reserve fund Rs 2717.19 Cr., Deposit and Advances Rs 3461.64 Cr. and Remittance Rs 541.91 Cr. The state received Revenue worth Rs 3,34,38.27 Cr and Revenue expenditure of Rs 3,35,34.93Cr were disbursed. State received receipt of Rs 8083.32 Cr as Tax revenue, and Rs 2188.46 Cr as non tax revenue, Rs 4753.92 Cr as share of Union taxes and duties and Rs 18412.58 Cr as grants from central government during 2020-21. State disbursed Salaries tunes to Rs 11641.16 Cr, Grant in aids Rs 4553.73 Cr, subsidies Rs 1240.63 Cr, General Services 11359.82 Cr, pension as Rs 6088.39 Cr, Interest payment and services of debt Rs 4472.45 Cr , Soical Services Rs 1736.19 Cr., Economic Services Rs 1315 Cr.

During the year 2020-21 , there was an increase of 8.77 per cent ( 2,695.86 crore ) in Revenue Receipts over the previous year . Only 31 per cent of the Revenue Receipts came from the State’s own resources comprising taxes and non – taxes , while the remaining 69 per cent were contributed by central transfers comprising the State’s share in central taxes and duties ( 14 per cent ) and Grants – in – Aid from Government of India ( 55 per cent ) . Total expenditure increased by 7,031.31 crore ( 21.88 per cent ) over a period of five years ( 2016-21 ) . During 2020-21 , total expenditure (Rs. 39,164.25 crore ) of the State increased by Rs. 2,801.70 crore ( 7.70 per cent ) over the year 2019-20 . Share of Revenue expenditure in total expenditure ranged from 78.9 per cent to 86.7 per cent during the period 2016-21 . Rate of growth of revenue expenditure displayed fluctuating trend over the same period . The committed expenditure accounted for a dominant share ( 67-71 per cent ) of revenue expenditure and revenue receipts ( 65-70 per cent ) of the State during the five – year period 2016-21 . During 2020-21 , capital expenditure ( Rs 5,309 crore ) increased by 136 crore ( 2.62 per cent ) over the previous year 2019-20 (Rs 5,174 crore ) , and constituted 13.56 per cent of total expenditure as compared to 14.23 per cent during 2019- 20. The overall fiscal liabilities at the end of the year were Rs 67,164.75 crore , after excluding RS. 1,717 crore received as back – to – back loans to State from Govt of India in lieu of GST compensation shortfall . These had increased by 7.96 per cent in 2020-21 as compared with 14.57 per cent in the previous year . The ratio of fiscal liabilities to GSDP in 2020-21 was 42.91 per cent ( calculated by excluding Rs 1,717 crore received as back – to – back loans ) . Fisical liabilities exceed the 15th finance target of 36 per cent. The maturity profile of outstanding stock of public debt of 43,845 crore ( excluding Rs 1,717 crore as back – to – back loans and 618 crore whose maturity was uncertain ) as on 31 March 2021 , showed that annual outgo on public debt repayment and interest will be approximately 6,416 crore during the next five years up to 2025-26 . Annual outgo on market loan repayment and interest will be approximately Rs 4,211 crore during the next five years up to 2025-26 .

Reflecting state budgetary managment of state CAG underlined that State expenditure tunes to Rs 8458 remained unspent. The total budget provision in 2020-21 was Rs. 61,597 crore . The actual expenditure during the year was Rs. 53,139 crore ( 86 per cent ) . This resulted in savings of Rs. 8,458 crore ( 14 per cent ) . In five cases ( relating to five grants ) , excess expenditure of 88.69 crore over budget provision was incurred in 2020-21 . During 2020-21 , there were 10 cases ( one crore or more in each case ) under 10 grants ( Revenue / Capital – Voted ) where supplementary provision of Rs. 140.23 crore proved unnecessary as expenditure did not reach the level of original provision . In three cases , supplementary provision of Rsm 349.83 crore proved insufficient as it was not adequate to meet the requirement , leaving aggregate uncovered additional expenditure of 88.60 crore . Re – appropriations in 13 cases (savings of 10 crore and more in each case ) proved unnecessary , as the savings under these cases were more than re – appropriated amount . On the other hand , re – appropriations in 13 cases proved insufficient as there remained excesses under these grants .