THREE ODIA OFFICERS ARE APPOINTED AS MANAGING DIRECTORS OF PUBLIC SECTOR COMMERCIAL BANK   PALLAV MOHAPATRA IS NEW MANAGING DIRECTOR & CEO OF CENTRAL BANK OF INDIA   A K PRDHAN IS NEW MANAGING DIRECTOR & CEO OF UNITED BANK OF INDIA   MRUTYUNJAY MAHAPATRA IS NEW MANAGING DIRECTOR & CEO OF SYNDICATE BANK  ALL THESE THREE ODIA OFFICERS ARE RATED AS HONEST AND EFFICIENT OFFICERS   GANDHI INSTITUTE OF ENGINEERING AND TECHNOLOGY (GIET )GETS UNIVERSITY TAG  ODISHA HOUSE CLEARS GIET UNIVERSITY  LAW MAKER GEORGE TIRKEY AND SUDARSAN DAS JOIN INDIAN NATIONAL CONGRESS  WHILE MR TIRKEY IS VETERAN TRIBAL LEADER MR DAS IS AN ACE ACTIVIST  THEY JOINED IN PRESENCE OF INC PRESIDENT RAHUL GANDHI   INTERNATIONAL SAND ARTIST SUDARSHAN PATNAIK IS NEW PRESIDENT ODISHA LALIT KALA ACADEMY  STAT GOVERNMENT APPOINTED MR PATNAIK REPLACING RAGHUNATH MAHAPATRA  

State Debt On Rise

Odisha's Debt Burden was Rs 66,656.56 crore in October, 2017 and is estimated to touch Rs.76,744.12 crore by the end of 2017-18 fiscal, 


Minister Finance,  Sashi Bhusan Behera told the Odisha Legislative Assembly today.
 
Mr.Behera said this while replying to a question said the loan is being incurred for Capital Expenditure on infrastructural projects.
 
In fact, infrastructure sector has received boost after funding have been hiked under Capital Expenditure.

The Finance Minister said the State's loan burden was Rs 38,666.24 crore, Rs 37,730.04 crore and Rs 27,801 crore in 2014, 2010 and 2003 respectively.
 
Mr.Behera said while the State Government has incurred loan of Rs 20,059.45 crore from provident fund, it got credit of Rs 46,597.11 crore from other sources like the Government of India, National Small Savings Fund, Open Market, NABARD, LIC, GIC, National Cooperative Development Corporation and Rural Electrification Corporation.

Official sources said the State Government has taken loan worth Rs 5,500 crore from Open Market during the 2017-18.
 
State Government is resorting to Market Borrowing after NDA Government came to power as funds flow from Centre have gone down during last three and half years.  

"The debt burden of the State is around 16 per cent of the gross state domestic product. It is well below the permissible limit of 25 per cent," Principal Secretary Finance, Tuhin Kanta  Pandey said.
 


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