Where is the amount of Loans and Advances made by the State Government depicted?
The amount of Loans and Advances made by the State Government is depicted in Statement No. 18 of the Finance Accounts.
Where is the amount of Public Debt of the State Government depicted?
The amount of Public Debt of the State Government is depicted in the Statement No. 6 and No. 17 of the Finance Account.
What are the components consisting of Public Debt of the State Government?
Public Debt of the State Government consists (i) Internal Debt and (ii) Loans and Advances from Central Government.
What is Public Debt?
The Government introduces from time to time several programmes of Socio-economic development which aim at increase in production, better utilization of various assets created in the past as also meeting the minimum social and economic requirements of the population, and in particular, of the weaker sections of the Society. For achieving these objectives, it is necessary for State Government to borrow huge funds. This borrowing of funds by State Government is called Public Debt.