Shimla: A reason of worry for the state, total liabilities and debts of the state for 2020-21 have mounted to ₹67,888.30 crore.

The Comptroller and Auditor General (CAG) of India in its report, tabled by Chief Minister Jai Ram Thakur in the Assembly on Saturday, said the ratio of fiscal liabilities to GSDP in 2020-21 was 42.91%. Out of a total of 2,799 outstanding Utilisation Certificates (UCs) for grants of ₹3,557.83 crore, 1,487 UCs for grants of ₹1,587.07 crore pertained to the period 2015-16 to 2018 19. Out of the total amount of ₹3,557.83 crore for which UCs were outstanding, 69.43% pertained to three departments- Panchayati Raj, Urban Development and Rural Development.

Report revealed that during 2020-21, the fiscal deficit has increased by ₹103 crore to ₹5,700 crore. As such, the fiscal deficit was 3.64 per cent of the GSDP, which exceeded the targets set in the HP-FRBM Act. There was a revenue deficit of ₹97 crore against the previous year’s revenue surplus of ₹12 crore.

Revenue receipt has recorded an increase of 8.77 per cent to ₹22,695.86 crore as compared to 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 the Government of India (55 per cent).

During 2020-21, capital expenditure increased by ₹136 Crore to ₹5,309 Crore, from ₹5,174 Crore in the previous year.

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Rahul Bhandari is Editor of TheNewsHimachal and has been part of the digital world for last 15 years.