Total Liabilities of Jammu Kashmir Rise to Rs 1.60 Lakh Crore as of March 31, 2025

Total Liabilities of Jammu Kashmir Rise to Rs 1.60 Lakh Crore as of March 31, 2025

Srinagar: The Government of Jammu and Kashmir’s total liabilities and debt stock have increased to Rs 1,60,200 crore as of March 31, 2025, after including 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.

Component-Wise Debt Structure Under FRBM

Among the on-budget liabilities, market borrowings formed the largest share 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) amounted to Rs 4,909 crore. Borrowings from financial institutions and banks stood at 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 were recorded at Rs 27,830 crore, while reserve funds and deposits totalled Rs 14,967 crore. UDAY power bonds added Rs 2,262 crore to the overall liability profile. No amount was reported under “other liabilities.”

In addition to the on-budget debt, off-budget borrowings by the Jammu and Kashmir Power Development Department/JKPCL stood at Rs 21,960 crore. Loans contracted by the Jammu and Kashmir Infrastructure Development Finance Corporation (JKIDFC) were reported at Rs 1,173 crore.

Together, these off-budget loans amount to 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 details were shared in response to a query in the House, outlining the component-wise structure of public debt and public account liabilities under the FRBM reporting framework.