Rbi Report: Year after year the debt burden on Bihar is increasing. At the same time, its effect is visible on per capita loan and per capita loan has also increased. The total loan outstanding in the year 2019-2020 was 193382 crores. Which is likely to increase to 227196 crores in the year 2020-21, to 257510 crores in the year 2021-22, to 283596 crores in the year 2022-23 and to 324762 crores in the year 2023-24.
Per capita credit is expected to increase from Rs 15,982 in 2019-20 to Rs 24,981 in 2023-24. However, the loan is within the limit prescribed by the Finance Commission.
The finance commission has set a limit for the states to take loans. According to the recommendation of the 15th Finance Commission, for the financial year 2023-24, Bihar has to keep the total outstanding debt in the range of 40.4 percent of the Gross State Domestic Product. In the budget 2023-24 by the state government, the ratio of total outstanding debt to gross state domestic product is estimated at 37.81 percent. This figure is estimated to be 38.12 percent in the year 2021-22, 38.15 percent in the year 2022-23 and 37.81 percent in the year 2023-24.
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According to an RBI report released last year, Punjab will be the most indebted state in the country by 2026-27, where it is estimated to have a debt of more than 45% of its GSDP. Apart from this, Rajasthan (39.4%), Kerala (38.2%), West Bengal (37.0%), Andhra Pradesh (33.9%), Uttarakhand (32.2%), Bihar (31.2%), Haryana (31.1%), Tamil Nadu (31.0%) ) and Jharkhand (30.2%) will have more than 30% debt.
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