Gujarat’s public debt is estimated to have reached ₹4,30,320 crore in 2025–26, marking a rise of ₹55,475 crore from the previous financial year, according to revised estimates presented in the state Assembly.
The figures were disclosed by Finance Minister Kanubhai Desai in a written reply during Question Hour on the third and final day of the Gujarat Legislative Assembly’s monsoon session. Congress MLA Imran Khedawala had sought the information.
Debt rises nearly 15% in a year
Gujarat’s public debt stood at ₹3,74,845 crore in 2024–25. The revised estimate of ₹4,30,320 crore for 2025–26 represents an increase of about 14.8% in one year.
The rise amounts to ₹55,475 crore, making it the key increase highlighted in the Assembly’s latest debt figures.
Interest and principal payments both increase
The state’s payments towards interest and principal also increased during the period.
In 2024–25, Gujarat paid ₹25,604 crore in interest. This is estimated to rise to ₹27,095 crore in 2025–26, an increase of ₹1,491 crore, or around 5.8%.
Principal repayment also recorded a sharper increase. The state paid ₹29,126 crore towards principal in 2024–25, compared with an estimated ₹34,025 crore in 2025–26.
That represents an increase of ₹4,899 crore, or approximately 16.8%.
Combined debt servicing crosses ₹61,000 crore
Taken together, the reported interest and principal payments amount to ₹61,120 crore in 2025–26, compared with ₹54,730 crore in 2024–25.
This means the combined amount paid towards interest and principal increased by ₹6,390 crore year-on-year.
The increase in principal repayment was larger in percentage terms than the rise in interest payments, with principal servicing growing by nearly 17%.
Figures are based on revised estimates
The ₹4,30,320 crore public-debt figure is based on the revised estimates for 2025–26. It should therefore be read as an estimated figure rather than a final year-end figure.
Similarly, the ₹61,120 crore figure is a combined calculation of the interest and principal amounts reported for the year. It represents debt servicing through these two components, rather than a separate figure reported as the state’s total outstanding debt.
The Assembly disclosure provides a year-on-year snapshot of Gujarat’s rising debt stock and the growing amount being paid towards its servicing.
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