Счетная палата обвинила правительство Харьяны в использовании займов для погашения долгов вместо развития

Haryana using borrowed funds to repay interest on loans: CAG Dduring 2020-25, the government utilised between 53 per cent and 67 per cent of its current borrowings for repayment of earlier borrowings Pointing to the grim financial situation of the Haryana Government, the Comptroller and Auditor General (CAG) has said the state is using borrowed funds mainly to meet current consumption and repay loan interest, rather than for capital creation or development activities. The CAG, in its report tabled in the state legislative Assembly on September 1, said during 2020-25, the government utilised between 53 per cent and 67 per cent of its current borrowings for repayment of earlier borrowings (principal) as against between 19 per cent and 50 per cent during 2015-16 to 2019-20. “A large share of borrowings going towards debt repayment and revenue spending limits fiscal space and increases dependence on debt for routine needs. During the year 2024-25, only 14 per cent of the current borrowings were utilised for capital expenditure. Thus, the borrowing funds were being used mainly for meeting current consumption and repayment of earlier borrowings instead of capital expenditure,” said the report. The outstanding fiscal liabilities of Haryana increased from Rs 1.21 lakh crore at the end of 2015-16 to Rs 3.61 lakh crore at the end of 2024-25. The debt-GSDP ratio remained high, fluctuating between 24.36 per cent and 32.68 per cent, indicating sustained pressure on debt sustainability, said the CAG. Total liabilities of a state government comprise Internal Debt (which includes market loans, ways and means advances from the RBI, special securities issued to the National Small Savings Fund, and loans from financial institutions, etc.), loans and advances from the Central government, and Public Account Liabilities, which include small savings, provident funds and reserve funds bearing interest. The Internal Debt of Haryana increased by Rs 1.07 lakh crore (52.24 per cent) from Rs 2.04 lakh crore in 2020-21 to Rs 3.11 lakh crore in 2024-25. An amount of Rs 21,936 crore was paid towards interest on internal debt during 2024-25, it said. Debt profile The CAG says that of the outstanding public debt (Internal Debt of Rs 3.11 lakh crore and Rs 5,328 crore loans from Centre) of Rs 3.16 lakh crore payable during 2024-25 to 2034-35, debt of Rs 23,959 crore (7.58 per cent) is payable in 2025-26. Further, Rs 1.28 lakh crore (40.55 per cent) is payable between 2026-27 and 2031-32, while the remaining 51.87 per cent (Rs 1.64 lakh crore) is payable after over seven years. “Annual outgo in the shape of Public Debt repayment will be approximately Rs 21,725 crore during the next seven years up to 2031-32; besides, the interest outgo for this debt will also be paid. The outgo on account of repayment of outstanding Public Debt along with interest may further go up with the increase in the borrowing requirement of the state to recover the resource gap,” it said. The subsidy bill of the state has increased from Rs 7,650 crore in 2020-21 to Rs 11,639 crore in 2024-25. Capital expenditure Capital expenditure includes expenditure on the acquisition of land, building, machinery, equipment, investment in shares, loans and advances by the government to public sector undertakings (PSUs) and other parties. It declined from Rs 20,158 crore in 2015-16 to Rs 6,796 crore in 2020-21, with year-on-year fluctuations. From 2020-21 to 2023-24, it showed a steadily rising trend, then declined to Rs 15,641 crore in 2024-25 from Rs 19,976 crore in 2023-24.