Gujarat per capita debt to rise

Gujarat’s per capita debt, already among the highest in the country, is set to rise further by a whopping 46% in the next three years, according to the Medium Term Fiscal Policy Statement of the state government.

With a public debt of Rs1,24,580 crore, Gujarat’s per capita debt would stand at Rs20,660 as of March 31, 2012 and is expected to rise to Rs23,255 as the state’s debt increases to Rs1,40,238 crore by March 31, 2013.

The state’s total public debt is projected to rise by a further Rs20,000 crore to reach Rs1,59,552 crore by the end of 2013-14, which would translate into a per capita debt of Rs26,400 on each Gujarati.

Continuing the trend, public debt of the state would increase to a staggering Rs1,81,956 crore and per capita debt would reach Rs30,175 at the end of 2014-15.