Punjab’s debt at Rs 4.13 lakh crore, 3.7 times higher than Himachal Pradesh: Centre
Babushahi Bureau
New Delhi, July 31, 2026: Punjab’s outstanding debt has reached approximately ₹4.13 lakh crore, accounting for nearly 45 per cent of the state’s estimated Gross State Domestic Product (GSDP), according to information presented by the Centre in the Rajya Sabha.
The figures were cited from the report titled State Finances: A Study of Budgets 2025–26, which highlighted the growing debt burden on several states.
Punjab’s debt is around 3.7 times higher than that of neighbouring Himachal Pradesh, placing the state among those facing a significant fiscal burden relative to the size of their economies.
The report showed that Tamil Nadu had the highest outstanding debt among Indian states, estimated at around ₹10.43 lakh crore, while Mizoram was among the states with the lowest debt.
Punjab’s debt is also close to that of neighbouring Haryana, whose outstanding liabilities for 2025–26 were estimated at approximately ₹4.02 lakh crore. However, Haryana’s larger economy gives it comparatively greater capacity to manage its debt burden.