Gujarat under loans worth ₹94000 crore in two years

Gujarat government responding to a question in the Vidhan Sabha that the state has loaned ₹94,000 crore in last two years. The government has taken loans from the market at an interest rate of more than 7% in these last two years.

Finance Minister Kanu Desai shared the details in the Gujarat Legislative Assembly’s Question Hour after the Opposition's inquiry.

The details revealed that in the year 2022-23, loans amounting to ₹43,000 crore were taken, with interest rates ranging from 7.35% to 7.82%. These loans were taken for a period of 2 to 13 years. In the year 2023-24, the government took a total of ₹51,000 crore in loans from the market.

These loans were taken at rates ranging from 7.18% to 7.66% and were taken for a period of 2 to 10 years.

Notably, the Gujarat government recently presented the budget for the financial year 2025-26 in the Legislative Assembly, amounting to ₹3.70 lakh crore.

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State took ₹76,054 cr in loans from private banks in two years, says Gujarat FM