Financial Daily from THE HINDU group of publications
Saturday, Apr 29, 2006

News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Industry & Economy - Economy
States - Kerala


Kerala's public debt put at Rs 45,000 cr

Our Bureau

The Government had been paying about 90 per cent of its income as salary, pension and interest, forcing it to borrow for development activities.

Thiruvananthapuram , April 28

Kerala's public debt as on March 31, 2006, was at Rs 45,024 crore, the Finance Minister, Mr Vakkom Purushothaman, said in a statement here.

Denying reports that the State's public debt had reached Rs 56,000 crore, the Minister said that as per the estimates of the Accountant General, the public debt was Rs 44,919 crore as on February 28 and it reached Rs 45,025 crore as on March 31.

The United Democratic Front (UDF) Government had availed itself of loans to the tune of Rs 21,105 crore. The Government had been paying about 90 per cent of its income as salary, pension and interest, which forced it to resort to borrowings for development activities, he noted. The Minister said that the increase in debt during the previous Left Democratic Front (LDF) Government was 137 per cent, whereas the increase during the UDF rule was 88 per cent.

When the LDF government demitted office, the public debt stood at Rs 23,919 crore. In addition, it had left behind liabilities totalling Rs 24,210 crore. The Government had to pay large amounts as interest on the previous government's debt, he said.

The Minister stated that the Government was able to raise the revenue income from Rs 8,731 crore in 2000-01 to Rs 15,000 crore in 2005-06. Also, there had been no overdrafts or ways and means advances from the Reserve Bank of India as at the end of the last financial year, he added.

More Stories on : Economy | Kerala

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
Cyclone Mala churns into Category 4 status


Nodal agency for bio-diesel mission
1,000 MW targeted from indl wastes
Private cell operators to team up with Postal Dept
Kerala's public debt put at Rs 45,000 cr
Tariff values for palm oils hiked
$1.3-b worth biz generated at Hannover
Meet stresses need for standards in imaging
Mumbai hotels concern over hike in VAT
Infrastructure growth faulty: Report
PSL lowest bidder for GAIL project
Officials express concern over high drug prices
`Phase out CST quickly'
`Train SME managers from Commonwealth nations'
CIL urged to sell through e-auction
`Proposed excise hike on liquor to hit Karnataka revenues'
Revitalise ITIs, says FICCI survey
UK institute, D&B in pact for biz courses
GLIM eyes Shanghai, Europe institutes for MoUs
`New guidelines to hit medical devices sector'
Metropolis Health getting Rs 40-cr private funding
Simplex Infrastructures bags Rs 210-cr order
Puravankara launches `Eternity'
NSTL to develop torpedoes, stealth tech
`Corporate honchos spend 20 minutes reading business dailies'
FIEO, NIPO call for data protection law
India Inc needs to inculcate national responsibility: Somnath
Backward districts in AP to get Central sops: CM
AP Paper Mills to promote farm forestry in wasteland
Workshop on electronics
Pakistan imports 10 mkg tea in March
KVIC eyes Rs 400-crore exports
Iron ore exports thru Haldia, Paradip ports decline
Govt may allow wheat import by private sector
Sensex rebounds after a crash
Indiabulls Sec gets a breather
SEBI order harsh; we are victims of fraud: Karvy
Karvy refutes SEBI charges
More than system inadequacy
Fictitious demat a/cs opened in 2003 itself
Rush for shifting DP accounts
Blanket ban



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line