Himachal Pradesh Faces Acute Financial Crunch: CM Sukhu Addresses Loan Raising

Himachal Pradesh has taken Rs 21,366 crore in loans over the last 20 months, as revealed by Chief Minister Sukhvinder Singh Sukhu. The state repaid Rs 5,864 crore, resulting in a net loan of Rs 15,502 crore. These loans were raised from December 2022 to July 2024.

Reeling from an acute financial crunch, the Himachal Pradesh government has raised Rs 21,366 crore in loans over the last 20 months, Chief Minister Sukhvinder Singh Sukhu disclosed to the Vidhan Sabha on Friday.

In a detailed written reply to a question, Sukhu reported that the government has repaid Rs 5,864 crore in loans, leaving a net loan amount of Rs 15,502 crore. The loan increment details include Rs 6,897 crore raised between December 15, 2022, and March 31, 2023, Rs 10,521 crore during 2023-24, and Rs 3,948 crore from April 1, 2024, to July 31, 2024.

The repayments were categorized as Rs 1,097 crore for 2022-23, Rs 3,481 crore for 2023-24, and Rs 1,286 crore for 2024-25, resulting in net borrowing of Rs 15,502 crore. The government secured Rs 5,800 crore in the last three and half months of 2022-23, Rs 7,040 crore in 2023-24, and Rs 2,662 crore in 2024-25.

(With inputs from agencies.)