Executive Summary:
This document presents the responses to Lok Sabha Unstarred Question No. 2444 regarding loan borrowings and debt of Uttar Pradesh, answered on August 4, 2025. It includes data on loans borrowed by Uttar Pradesh from the Reserve Bank of India (RBI) and other market sources from FY 2017-18 to FY 2024-25, as well as outstanding liabilities and debt-to-GSDP ratios for all states and union territories. The data is provided by the State Government of Uttar Pradesh and the RBI.
Key Points / Main Content:
Uttar Pradesh Loan Borrowings:
From FY 2017-18 to FY 2024-25, Uttar Pradesh borrowed loans from the RBI and other market sources, detailed in Annexure I:
Negotiated loans from Financial Institutions and market loans raised through RBI for specific projects are specified year-wise in crore Rupees.
Total Outstanding Liabilities of Uttar Pradesh:
Annexure II provides details of the total outstanding liabilities of Uttar Pradesh from FY 2017-18 to FY 2024-25 (Budget Estimate) in crore Rupees.
Debt-to-GSDP Ratio:
Annexure III presents the latest debt-to-Gross State Domestic Product (GSDP) ratio of every State and Union Territory, including Uttar Pradesh, for FY 2024-25 (Budget Estimate) in percent.
Impact Analysis:
State Government of Uttar Pradesh:
Impact: Affected by the reporting and monitoring of loan borrowings, outstanding liabilities, and GSDP ratio.
Action Required: To provide accurate data on loan borrowings from RBI and other market sources to the Ministry of Finance.
Reserve Bank of India (RBI):
Impact: Responsible for providing data on outstanding liabilities and facilitating loans to the State Government of Uttar Pradesh.
Action Required: To continue monitoring and reporting on the financial status of Uttar Pradesh and other states/union territories.
Ministry of Finance:
Impact: Responsible for overseeing and reporting on the financial status of state governments.
Action Required: To utilize the provided data for policy making and financial oversight.
Other State Governments and Union Territories:
Impact: Their debt-to-GSDP ratios are included for comparison.
Action Required: No specific action is required as this is for informational purposes.
Key Entities Referenced
Lok Sabha: The lower house of the Parliament of India, where the question was raised.
Ministry of Finance: The Indian government ministry responsible for financial matters.
Department of Expenditure: A department within the Ministry of Finance responsible for managing government expenditure.
Uttar Pradesh: A state in India, the subject of the loan and debt inquiry.
Reserve Bank of India (RBI): The central bank of India, from which the State Government of Uttar Pradesh borrowed loans.
Dimple Yadav: The Member of Parliament who raised the unstarred question in Lok Sabha.
Pankaj Chaudhary: Minister of State in the Ministry of Finance who provided the answer to the Lok Sabha question.
Gross State Domestic Product (GSDP): A measure of the economic output of a state, used in calculating debt-to-GSDP ratio.
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF EXPENDITURE
LOK SABHA
UNSTARRED QUESTION NO. 2444
TO BE ANSWERED ON MONDAY, 4th AUGUST, 2025
SRAVANA 13, 1947 (SAKA)
LOAN BORROWINGS AND DEBT OF UTTAR PRADESH
2444. Smt. Dimple Yadav
Will the Minister of Finance be pleased to state:
(a) the total amount of loans borrowed by the State Government of Uttar Pradesh from the
Reserve Bank of India (RBI), in all forms, since the Financial Year 2017-18;
(b) whether the Government has any data of loans raised by the Government of Uttar Pradesh
from other market sources during the same period and if so, the details thereof, source-
wise;
(c) whether the Government has any data on the current outstanding liabilities of State
Government of Uttar Pradesh and if so, the State’s debt trends since FY 2018-19, year-
wise; and
(d) the latest debt-to-Gross State Domestic Product (GSDP) ratio of every State and Union
Territory including Uttar Pradesh?
ANSWER
MINISTER OF STATE IN THE MINISTRY OF FINANCE
(SHRI PANKAJ CHAUDHARY)
(a) to (b) As per information provided by the State Government of Uttar Pradesh and the Reserve
Bank of India (RBI), the total amount of loans borrowed by the State Government of Uttar
Pradesh from the Reserve Bank of India (RBI), and other market sources, from the Financial
Year (FY) 2017-18 to FY 2024-25 is enclosed at Annexure-I.(c) to (d) As per information provided by RBI, the outstanding liabilities of Uttar Pradesh from
FY 2017-18 to FY 2024-25 (Budget Estimate) and latest debt-to-Gross State Domestic Product
(GSDP) ratio of every State and Union Territory, including Uttar Pradesh is enclosed at
Annexure-II and Annexure-III respectively.
*****Annexure-I referred to in the answer of part (a) to (b) of Lok Sabha Unstarred question no.
2444 for 04.08.2025
The total amount of loans borrowed by the Government of Uttar Pradesh form the Reserve
Bank of India (RBI) and other market sources from the FY 2017-18 to FY 2024-25
(Rs. in crore)
Negotiated loans from
Financial Market loans raised
various Financial Institutions
Year through RBI
for specific projects
2017-18 41,600 1,780
2018-19 46,000 4,791
2019-20 69,703 2,851
2020-21 75,500 3,177
2021-22 62,500 2,503
2022-23 55,612 2,412
2023-24 97,650 3,250
2024-25 45,000 2,302Annexure-II referred to in the answer of part (c) to (d) of Lok Sabha Unstarred question
no. 2444 for 04.08.2025
Details of Total Outstanding Liabilities of Uttar Pradesh from FY 2017-18 to FY 2024-25
(Budget Estimate)
(Rs. in crore)
Financial
Total Outstanding Liabilities
Year
2017-18 5,17,585
2018-19 5,67,777
2019-20 5,49,559
2020-21 6,00,109
2021-22 6,46,321
2022-23 6,93,865
2023-24 (RE)* 7,88,464
2024-25 (BE)# 8,57,844
* RE - Revised Estimate
# BE - Budget EstimateAnnexure-III referred to in the answer of part (c) to (d) of Lok Sabha Unstarred question
no. 2444 for 04.08.2025
Details of latest debt-to-Gross State Domestic Product (GSDP) ratio of States and Union
Territories
(in percent)
State/UT FY 2024-25 (BE)
1. Andhra Pradesh 34.7
2. Arunachal Pradesh 57.0
3. Assam 27.5
4. Bihar 37.3
5. Chhattisgarh 29.1
6. Goa 30.2
7. Gujarat 17.9
8. Haryana 30.4
9. Himachal Pradesh 45.2
10. Jharkhand 26.6
11. Karnataka 26.5
12. Kerala 36.8
13. Madhya Pradesh 31.6
14. Maharashtra 19.0
15. Manipur 36.7
16. Meghalaya 39.0
17. Mizoram 31.6
18. Nagaland 40.0
19. Odisha 16.3
20. Punjab 46.6
21. Rajasthan 35.8
22. Sikkim 35.0
23. Tamil Nadu 30.3
24. Telangana 26.2
25. Tripura 27.9
26. Uttar Pradesh 31.8
27. Uttarakhand 24.2
28. West Bengal 38.0
29. Jammu & Kashmir 33.6
30. NCT Delhi 1.3
31. Puducherry 26.8