Diplomat Correspondent
Jammu,(DD): The Jammu and Kashmir government has disclosed that the Union Territory’s total debt has reached a massive Rs 1,25,205 crore, raising concerns over the region’s financial stability.
In a written response to Handwara MLA Sajad Gani Lone, Finance Minister Omar Abdullah provided a detailed breakdown of J&K’s debt, which includes State Development Loans (SDL), Reserve Bank of India (RBI) loans, National Saving Small Fund (NSSF) liabilities, negotiated loans, Government of India advances, Ways and Means advances, General Provident Fund (GPF), reserves and deposits, and UDAY power bonds.
The Finance Department’s report highlights major liabilities, including Rs 69,894 crore in SDL/RBI loans, Rs 27,901 crore in GPF liabilities, Rs 14,294 crore in reserves and deposits, Rs 5,758 crore from NSSF, Rs 4,032 crore in negotiated loans, Rs 2,616 crore under UDAY bonds, and Rs 710 crore in GoI advances.
Additionally, the government revealed that as of February 27, 2025, bills worth Rs 5,429.49 crore are pending in treasuries under various accounts. Unpaid work bills in the Public Health Engineering (PHE) department alone stand at Rs 0.24 crore.
The rising debt burden and pending payments highlight the financial challenges J&K faces, prompting concerns over fiscal management and sustainability.(DD)