Gujarat's "total debts" reach to Rs 1.85 lakh crore, a rise of nearly 13 per cent in a year: Sustainable?

By A Representative
Gujarat’s total debts are set to touch Rs 1.85 lakh crore by March-end 2014, highest ever. The latest “State Finances: A Study of Budgets of 2013-14”, released last month end, has said that the state’s total debts – which include internal debt taken from the market and other funding sources as also different types of liabilities – has said that the state’s total debts would rise by about Rs 21,000 crore in a year, from Rs 1.64 lakh crore last year as of March 2013. A rise of 12.87 per cent in a year, this is the highest increase in the debts in the last three years.
Gujarat’ debts, which were Rs 1.43 lakh in March 2011, rose by 5.79 per cent to reach Rs 1.51 lakh crore in March 2012, and further to Rs 1.64 lakh crore in March 2013, a rise of 8.50 per cent. Debts have been a major reason for the Gujarat government to avoid budget deficit in the recent past. They go to fund nearly 20 per cent of the state’s budget.
Significantly, if the RBI report is any indication, the state’s debts formed 24.6 per cent of the Gross State Domestic Product (GSDP) between 2010 and 2014, which is higher than the national average – 22.2 per cent. Debt-GSDP ratio signifies how deep a particular economy is in debt. Of the total Rs 1.85 lakh crore, Rs 1.45 lakh crore is internal debt.
Of the 17 major states, which the RBI report identifies as being under the “non-specific category”, the states with a higher amount of total debts as of March 2014 than Gujarat are – Andhra Pradesh (Rs 1.94 lakh crore), Maharashtra (Rs 2.94 lakh crore), Uttar Pradesh (Rs 2.85 lakh crore), and West Bengal (Rs 2.45 lakh crore).

The issue of debt sustainability of Gujarat has been a reason for major debate, especially among public figures. While politicians oppose to the BJP government in Gujarat argue that high debts are a reason of major concern, leading to great financial stress on the coffers, state officials say Gujarat’s debts are “perfectly sustainable”, as the state has paid all of them on dot.
State officials believe that a high rate of growth of the state economy is one reason why the Gujarat government is able to withstand any debt trap, in which states like West Bengal have got into. Critics, however, say that the state has been able to sustain high debts mainly because it has not been spending “enough” on the social sector, particularly education.
Thus, the Gujarat government’s projected expenditure on education in 2013-14 as percentage of total budgetary allocation is 13.9 per cent, which is one of the lowest in the country (click HERE to read). As many as 15 of the 17 major states spend a higher proportion on education. More, as for the social sector as a whole, the expenditure has got stagnated for the last several years.

Comments

Beyond his riding skill, Karl Umrigar was admired for his radiance, sportsmanship, and affability

By Harsh Thakor* Karl Umrigar's name remains etched in the annals of Indian horse racing, a testament to a talent tragically cut short. An accident on the racetrack at the tender age of nineteen robbed India of a rider on the cusp of greatness. Had he survived, there's little doubt he would have ascended to international stature, possibly becoming the greatest Indian jockey ever. Even 46 years after his death, his name shines brightly, reminiscent of an inextinguishable star. His cousin, Pesi Shroff, himself blossomed into one of the most celebrated jockeys in Indian horse racing.

Aurangzeb’s last will recorded by his Maulvi: Allah shouldn't make anyone emperor

By Mohan Guruswamy Aurangzeb’s grave is a simple slab open to the sky lying along the roadside at Khuldabad near Aurangabad. I once stopped by to marvel at the tomb of an Emperor of India whose empire was as large as Ashoka the Great's. It was only post 1857 when Victoria's domain exceeded this. The epitaph reads: "Az tila o nuqreh gar saazand gumbad aghniyaa! Bar mazaar e ghareebaan gumbad e gardun bas ast." (The rich may well construct domes of gold and silver on their graves. For the poor folks like me, the sky is enough to shelter my grave) The modest tomb of Aurangzeb is perhaps the least recognised legacies of the Mughal Emperor who ruled the land for fifty eventful years. He was not a builder having expended his long tenure in war and conquest. Towards the end of his reign and life, he realised the futility of it all. He wrote: "Allah should not make anyone an emperor. The most unfortunate person is he who becomes one." Aurangzeb’s last will was re...

PUCL files complaint with SC against Gujarat police, municipal authorities for 'unlawful' demolitions, custodial 'violence'

By A Representative The People's Union for Civil Liberties (PUCL) has lodged a formal complaint with the Chief Justice of India, urging the Supreme Court to initiate suo-moto contempt proceedings against the police and municipal authorities in Ahmedabad, Gujarat. The complaint alleges that these officials have engaged in unlawful demolitions and custodial violence, in direct violation of a Supreme Court order issued in November 2024.

How the slogan Jai Bhim gained momentum as movement of popularity and revolution

By Dr Kapilendra Das* India is an incomprehensible plural country loaded with diversities of religions, castes, cultures, languages, dialects, tribes, societies, costumes, etc. The Indians have good manners/etiquette (decent social conduct, gesture, courtesy, politeness) that build healthy relationships and take them ahead to life. In many parts of India, in many situations, and on formal occasions, it is common for people of India to express and exchange respect, greetings, and salutation for which we people usually use words and phrases like- Namaskar, Namaste, Pranam, Ram Ram, Jai Ram ji, Jai Sriram, Good morning, shubha sakal, Radhe Radhe, Jai Bajarangabali, Jai Gopal, Jai Jai, Supravat, Good night, Shuvaratri, Jai Bhole, Salaam walekam, Walekam salaam, Radhaswami, Namo Buddhaya, Jai Bhim, Hello, and so on. A soft attitude always creates strong relationships. A relationship should not depend only on spoken words. They should rely on understanding the unspoken feeling too. So w...

राजस्थान, मध्यप्रदेश, पश्चिम बंगाल, झारखंड और केरल फिसड्डी: जल जीवन मिशन के लक्ष्य को पाने समन्वित प्रयास जरूरी

- राज कुमार सिन्हा* जल संसाधन से जुड़ी स्थायी समिति ने वर्तमान लोकसभा सत्र में पेश रिपोर्ट में बताया है कि "नल से जल" मिशन में राजस्थान, मध्यप्रदेश, पश्चिम बंगाल, झारखंड और केरल फिसड्डी साबित हुए हैं। जबकि देश के 11 राज्यों में शत-प्रतिशत ग्रामीणों को नल से जल आपूर्ति शुरू कर दी गई है। रिपोर्ट में समिति ने केंद्र सरकार को सिफारिश की है कि मिशन पुरा करने में राज्य सरकारों की समस्याओं पर गौर किया जाए।

Incarcerated for 2,424 days, Sudhir Dhawale combines Ambedkarism with Marxism

By Harsh Thakor One of those who faced incarceration both under Congress and BJP rule, Sudhir Dhawale was arrested on June 6, 2018, one of the first six among the 16 people held in what became known as the Elgar Parishad case. After spending 2,424 days in incarceration, he became the ninth to be released from jail—alongside Rona Wilson, who walked free with him on January 24. The Bombay High Court granted them bail, citing the prolonged imprisonment without trial as a key factor. I will always remember the moments we spent together in Mumbai between 1998 and 2006, during public meetings and protests across a wide range of issues. Sudhir was unwavering in his commitment to Maoism, upholding the torch of B.R. Ambedkar, and resisting Brahmanical fascism. He sought to bridge the philosophies of Marxism and Ambedkarism. With boundless energy, he waved the banner of liberation, becoming the backbone of the revolutionary democratic centre in Mumbai and Maharashtra. He dedicated himself ...

State Human Rights Commission directs authorities to uphold environmental rights in Vadodara's Vishwamitri River Project

By A Representative The Gujarat State Human Rights Commission (GSHRC) has ordered state and Vadodara municipal authorities to strictly comply with environmental and human rights safeguards during the Vishwamitri River Rejuvenation Project, stressing that the river’s degradation disproportionately affects marginalized communities and violates citizens’ rights to a healthy environment. The Commission mandated an immediate halt to ecologically destructive practices, rehabilitation of affected communities, transparent adherence to National Green Tribunal (NGT) orders, and public consultations with experts and residents. The order follows the Concerned Citizens of Vadodara coalition—environmentalists, ecologists, and urban planners—submitting a detailed letter to authorities, amplifying calls for accountability. The group warned that current plans to “re-section” and “desilt” the river contradict the NGT’s 2021 Vishwamitri River Action Plan, which prioritizes floodpla...

CPM’s evaluation of BJP reflects its political character and its reluctance to take on battle against neo-fascism

By Harsh Thakor* A controversial debate has emerged in the revolutionary camp regarding the Communist Party of India (Marxist)'s categorization of the Bharatiya Janata Party. Many Communists criticize the CPM’s reluctance to label the BJP as a fascist party and India as a fascist state. Various factors must be considered to arrive at an accurate assessment. Understanding the original meaning and historical development of fascism is essential, as well as analyzing how it manifests in the present global and national context.

Implications of deaths of Maoist leaders G. Renuka and Ankeshwarapu Sarayya in Chhattisgarh

By Harsh Thakor* In the wake of recent security operations in southern Chhattisgarh, two senior Maoist leaders, G. Renuka and Ankeshwarapu Sarayya, were killed. These operations, which took place amidst a historically significant Maoist presence, resulted in the deaths of 31 individuals on March 20th and 16 more three days prior.

Haven't done a good deed, inner soul is cursing me as sinner: Aurangzeb's last 'will'

Counterview Desk The Tomb of Aurangzeb, the last of the strong Mughal emperors, located in Khuldabad, Aurangabad district, Maharashtra, has this epitaph inscribed on it: "Az tila o nuqreh gar saazand gumbad aghniyaa! Bar mazaar e maa ghareebaan gumbad e gardun bas ast" (the rich may well construct domes of gold and silver on their graves. For the poor folks like me, the sky is enough to shelter my grave).

Search This Blog