At 15%, Gujarat’s public debt among lowest in country: Senior official

Gujarat’s public debt is less than all other states, barring Odisha, said Additional Chief Secretary (Finance) J P Gupta on Friday.

According to the budget documents, the state’s public debt has marginally risen to 15.34 per cent of the state GDP to Rs 3,77,962 crore in the current financial year. Gujarat’s current GSDP stands at Rs 24 lakh crore.

The public debt has hovered around 15 per cent of the state GDP in the previous two financial years, too. In 2022-23 and 2021-22, the state’s public debt stood at Rs 3,08,302 crore (15.17 per cent of GSDP) and Rs 3,38,476 crore (15.99 per cent of GSDP) respectively. In 2024-25, it is likely to rise to Rs 4,26,380 crore.