New Delhi: The government on Friday said the ratio of external loan to GDP as well as ratio of internal loan to the GDP showed a declining trend from the period of 2009-10 to 2011-12.
"The external loan ratio during 2011-12 declined to 1.9 percent from 2.1 percent of GDP during 2009-10, while ratio of internal loan came down to 48.3 percent from 52.6 percent of GDP in the same time period," Minister of State for Finance Namo Narain Meena said in a written reply to the Lok Sabha.
As far as the government estimates are concerned, he said, "External loan is estimated at Rs 26,048 crore as per 2012-13, while gross market borrowings under internal loan through dated securities in the same period (2012-13) is estimated at Rs 5,69,616 crore."
When asked about the break-up of both the loans, he said, "However, there is no estimated break-up of first and second half of borrowing for this component as receipts of external loans mainly depend on reimbursement claims filed by executing agencies or state governments.
While, of total internal loans, Rs 3,70,000 crore is proposed to be borrowed during first half and Rs 1,99,616 crore during second half of 2012-13."
The internal borrowings through dated securities in a financial year are spread over the year depending on cash requirement of the government and market conditions, he said.
"This is done in consultation with the Reserve Bank of India and the the borrowing calendar for the first half of the year is decided at the beginning of the year. After a mid year review, the borrowing calendar for the second half of the year is decided," he added.
On a query on the mechanism of proper utilisation of such funds, he said the mechanism for proper utilisation of the external loans is estimated by the way of conducting review meetings of the projects.
"And also (it is also estimated) by the way of tripartite review meetings in which the project implementing agencies and lending agencies review the overall physical or financial progress of the aided projects..." he added.