The state’s loan liability till February 29 this year includes Rs.7,162crore from the open market and Rs.242.82 crore from the Centre, he told the house in a written reply.
Virbhadra Singh, who also holds the finance portfolio, said that interest on the borrowings ranged from zero per cent to 13 per cent.
He said despite limited resources, the hill state brought down the debt-gross state domestic product ratio to 34.8 in 2014-15 as against the 40.1 percent target fixed by the 13th Finance Commission.
The state government raised all market loans only after obtaining the Centre’s approval under Article 293 (3) of the Constitution, he said.
In his budget speech on March 8, the chief minister said that out of every Rs.100 spent, Rs.28.98 go towards salaries of government employees, Rs.12.89 for pensions, Rs.10.43 for interest payment, Rs.6.84 for loan repayment, and the remaining Rs.40.86 are spent on developmental works.
