DW BUREAU / Shimla The Himachal Pradesh Assembly on Monday passed a bill that would enable the state government to borrow up to 5 per cent of the gross state domestic product amidst objection by the opposition. Himachal Pradesh Fiscal Responsibility and Budget Management (Amendment) Bill, 2021 has been passed by amending the provisions of Fiscal Responsibility and Budget Management (Amendment) Act, 2005 which enables the state government to borrow up to 2 per cent more than the present limit of fiscal deficit of 3 per cent of Gross State Domestic Product for the year 2019-20. The leader of opposition Mukesh Agnihotri objected to the bill stating that the state is already facing a huge debt burden of over Rs 60,000 crore and it should not be passed as it would enable the government to take loan up to 5 per cent instead the existing 3 per cent of GDP. Chief Minister Jairam Thakur while presenting the bill stated that more borrowings would compensate the government for loss of revenue and would help maintain the pace of development. The fiscal position of the state will be impacted accordingly, he added. Speaking on the current debt burden of Rs 60,544 on the state, Thakur held the Congress governments responsible for the huge loan. The chief minister said that the debt burden on the state had been increased by 67 per cent in the five years during the previous Congress government, while the same was increased by 26 per cent in the first three years of the current government. (editor@dailyworld.in)