Sajad Lone tables financial liabilities report in J&K Assembly

Reveals outstanding debt of Rs 1,25,205 crore

Last updated: March 9, 2025 1:44 am

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Srinagar, Nov 07 (ANI): Awami Ittehad Party (AIP) MLA and brother of Lok Sabha MP Engineer Rashid, Khurshid Ahmad Sheikh with Jammu and Kashmir People’s Conference President Sajad Gani Lone and others during the Jammu and Kashmir Assembly session, in Srinagar on Thursday. (ANI Photo)

Jammu, Mar 08: Member of Legislative Assembly (MLA) Handwara, Sajad Gani Lone on Saturday tabled a detailed report on the financial liabilities of Jammu and Kashmir, highlighting the overall debt position and outstanding liabilities of the Union Territory as of March 31, 2024.
The report, presented in response to a query, outlined the debt portfolio, including loans from various sources and pending liabilities.
According to the report, the total outstanding debt of Jammu and Kashmir stands at Rs 1,25,205 crore, which includes State Development Loans (SDL): Rs 69,894 crore, Reserve Bank of India Loans: Rs 4,032 crore, Negotiated Loans: Rs 5,758 crore
National Small Saving Fund (NSSF): Rs 710 crore, Government of India Advances: Rs 27,901 crore, General Provident Fund (GPF) (Net): Rs 14,294 crore, UDAY Power Bonds: Rs 2,616 crore
The Minister in charge of Finance clarified that this figure does not include off-budget borrowings or the apportionment of debt between the UTs of Ladakh and Jammu & Kashmir.
The report further revealed that as of February 27, 2025, the total outstanding liabilities in treasuries under various object heads amounted to Rs 5,429.49 crore.
With specific reference to the Public Health Engineering (PHE) Division Handwara, the total unpaid work bills stood at Rs 0.24 crore as of February 25, 2025. The government assured that these bills are cleared regularly based on the availability of resources.