Tuesday, February 19, 2013

Having a debt of 2.4 lakh Crores, UP struggle to take breath

"In its annual financial detail and analysis of financial state, the state government has projected a debt burden of Rs 2,39,878.35 crore in 2013-2014, which would be 29.5 per cent of the gross state domestic product (GSDP)"

UP debt estimated to cross Rs 2.3 lakh cr in 2013-14 - Business Standard

Report says that debt obligations of the state (Uttar Pradesh) doubled in last 9 years. Why we are squandering money which we don't have? Even the forthcoming generations have to endure the tiring weight of this liability and its interest. State governments should implement proper fiscal management. Waste less on building statues and more on repaying the debt.

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