SRINAGAR: The Government of Jammu and Kashmir’s total liabilities and debt stock have risen to Rs 1,60,200 crore as on March 31, 2025, after factoring in Rs 23,133 crore in off-budget borrowings contracted by power and infrastructure entities, the Legislative Assembly was informed.
As per figures tabled under the Fiscal Responsibility and Budget Management (FRBM) framework, the Union Territory’s on-budget outstanding liabilities stood at Rs 1,37,067 crore at the end of the 2024-25 financial year.
Of this, market borrowings constituted the largest component at Rs 81,663 crore. Loans from the Centre were reported at Rs 589 crore, while special securities issued to the National Small Savings Fund (NSSF) stood at Rs 4,909 crore. Borrowings from financial institutions and banks accounted for Rs 4,257 crore.
Net Ways and Means Advances (WMA) from the Reserve Bank of India were reported at Rs 590 crore.
Under public account liabilities, net small savings and provident funds stood at Rs 27,830 crore, while reserve funds and deposits amounted to Rs 14,967 crore. UDAY power bonds added Rs 2,262 crore to the liability profile. No amount was reported under “other liabilities.”
In addition to these on-budget liabilities, off-budget loans contracted by Jammu and Kashmir Power Development Department/JKPCL stood at Rs 21,960 crore. Borrowings by Jammu and Kashmir Infrastructure Development Finance Corporation (JKIDFC) were reported at Rs 1,173 crore.
Together, these off-budget borrowings total Rs 23,133 crore, taking the combined debt and liabilities of the Union Territory to Rs 1,60,200 crore as on March 31, 2025.
The disclosures were made in response to a query in the House, detailing the component-wise structure of public debt and public account liabilities under the FRBM reporting framework.
