TN debt level below ceiling: CM

CHENNAI: Dispelling apprehension on Tamil Nadu’s debt burden, Chief Minister J Jayalalithaa on Monday told the Assembly that the debt level was below the ceiling stipulated by the 13th Finance Commission for States.When CPI legislator S Gunasekaran expressed concern over the State’s debt burden, Jayalalithaa said the total debt of the State stood at Rs 1,18,610 crore. The 13th Finance Commission had said that a State’s debt could be up to 24.50 per cent of its GDP. “By the end of 2011-12, the State Government’s debt burden will only be 20.39 per cent of the State GDP. This will be less than the 24.50 per cent ceiling fixed by the 13th Finance Commission,” she said.