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HT: Uttarakhand reeling under debt

Hindustan Times

Thursday November 29, 2007

Barely seven years after it was carved out of Uttar Pradesh, the state of Uttarakhand, which was created to fulfill the aspirations of people living in the region, has become burdened with debts taken by the state government.

As per the latest finance accounts of the state prepared by Comptroller and Auditor General (CAG) of India, the total debt of the state government increased from Rs 10,675 crores to Rs 11,754 crores between 2005-06 and 2006-07. The report, which was tabled this week in the winter session of Vidhan Sabha mentions that while internal debt of the state increased from Rs 9094 crores to Rs 10,093 crores between April 2006 and March 31 this year, debt on small savings and provident funds Rs 1112 crores to Rs 1201 crores during the same period. [more]