Bengal’s debt repayment burden to multiply: Amit Mitra

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Kolkata: The West Bengal’s annual debt repayment burden would grow sharply in coming years as maturity dates of the loans taken by the previous Left Front government were drawing closer, state Finance Minister Amit Mitra said today at the Vidhan sabha. Replying during the Question Hour in the Assembly, Mitra said during 2015-16, the debt repayment amount would be Rs 8,877 crore, which is set to rise to Rs 9,781 crore in the next financial year.

In 2017-18, the amount would multiply to reach Rs 18,359 crore which, he said, would be a great burden on the state, Mitra said.According to him, this will happen as ten, 12 and 15 years loan were going to mature. Mitra said that the state government was making provisions towards this and also by sticking to fiscal and revenue discipline.He said that one silver lining was that the state GDP was rising at a rapid pace while the debt/GSDP ratio was falling. Attacking the Left Front, Mitra said that the loan burden as on March, 2015 as per revised estimates was Rs 2.74 lakh crore.

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