Chandigarh, February 27 — Haryana Chief Minister Nayab Singh Saini, while speaking during the Budget Session of the Haryana Vidhan Sabha, rejected the allegation that the state has been pushed into excessive debt and asserted that the government’s intent and fiscal direction are clear and responsible.
The Chief Minister stated that a comparison of debt growth between the previous Congress government and the present dispensation presents a factual picture. He informed the House that during the Congress tenure from 2004–05 to 2014–15, the state’s debt liabilities increased by 458.30 percent over a period of ten years. In contrast, during the ten-year period from 2014–15 to 2024–25 under the current government, debt liabilities have risen by 227.49 percent, which is less than half of the increase recorded during the Congress regime.
He further said that as per the Budget Estimates for 2025–26, the state’s fiscal deficit is projected to remain at 2.67 percent of GSDP, which is well within the 3 percent limit prescribed under the FRBM Act by the 15th Finance Commission. This, he emphasized, reflects prudent financial management and adherence to fiscal discipline.
Highlighting the state’s commitment to meeting its financial obligations, the Chief Minister informed that over the past ten years, the government has paid Rs. 3,66,016 crore towards debt servicing. This includes Rs. 1,61,796 crore as interest payments and Rs. 2,04,220 crore towards repayment of principal.
He categorically stated that both principal and interest payments are being made regularly and that there has not been a single instance of default in servicing debt installments or interest payments. This clearly demonstrates that the state’s debt position is sustainable and under control.
