Uttar Pradesh’s debt burden to touch Rs 7.84 trillion in FY 2023-24

Even as the Reserve Bank of India (RBI) has claimed that the collective debt of states as a percentage of the GDP is expected to decrease to 29.5 per cent in 2022-23 — compared to 31.1 per cent in 2020-21

Even as the Reserve Bank of India (RBI) has claimed that the collective debt of states as a percentage of the GDP is expected to decrease to 29.5 per cent in 2022-23 — compared to 31.1 per cent in 2020-21 — the debt burden of Uttar Pradesh is estimated to touch Rs 7.84 trillion in the next fiscal year 2023-24 – almost 40 per cent higher.

With general elections round the corner and the Yogi Adityanath government pushing populist schemes, financial experts feel that the debt could rise further.