Bhubaneswar: The state’s per capita debt burden currently stands at Rs 26,037.70, while its total debt is projected to rise to Rs 1,48,187.82 crore by March 31, 2027, the Odisha Assembly was informed Monday.
The per-capita debt refers to the state’s current debt burden divided by its population. It is not an additional amount that each individual owes to the government, nor does it mean every resident has personally borrowed that amount, said officials.
In a written reply, Chief Minister Mohan Charan Majhi said as per preliminary data received from the Accountant General, Odisha, the state’s outstanding debt stood at Rs 1,23,098.42 crore as August 31, 2026, against Rs 1,22,893.67 crore at the end of the 2025-26 financial year.
The state’s debt burden stood at Rs 96,310.42 crore as March 31, 2024. Between April 2024 and August 2026, the government raised net borrowings of Rs 30,788.23 crore. At the end of 2025-26, Odisha’s debt stock was equivalent to 12.43 per cent of its Gross State Domestic Product (GSDP).
For 2026-27, the government has budgeted gross borrowings of Rs 47,800 crore and repayment of Rs 22,000 crore, resulting in estimated net borrowings of Rs 25,800 crore. Consequently, the debt stock is projected to reach Rs 1,48,187.82 crore by March 31, 2027, or 13.38 per cent of GSDP.
The Budget has also provided Rs 8,200 crore for interest payments during 2026 27, while Rs 22,000 crore has been earmarked for loan repayment. The two amounts account for 5.53 per cent and 14.85 per cent, respectively, of the projected debt burden.
Under the Fiscal Responsibility and Budget Management (FRBM) Act, 2005, the state’s debt stock is required to remain within 25 per cent of GSDP, while the interest payment to revenue receipts (IP/RR) ratio should remain within 15 per cent.
According to the Budget estimates, Odisha’s Debt/GSDP ratio is expected to stand at 13.38 per cent and the IP/RR ratio at 3.30 per cent at the end of 2026 27, both below the prescribed limits.