Hamirpur, September 23, 2026: BJP Hamirpur district president Rakesh Thakur has criticised the Sukhvinder Singh Sukhu-led Himachal Pradesh government over the state’s rising debt, alleging that the government has taken ₹35,555 crore in fresh loans in its first three financial years and demanding a detailed account of how the money has been spent.
According to figures cited in the state Assembly, Himachal Pradesh had an outstanding debt of ₹1,01,863 crore as of January 31, 2026, while the government had raised ₹35,555 crore in fresh loans over the preceding three financial years.
Thakur questioned whether the borrowing had translated into sufficient development and asked the government to explain how much had been spent on new industries, hospitals, educational institutions, employment generation and income-generating assets. He also questioned the continued dependence on borrowing at a time when the state’s finances remain under pressure.
The state continued to borrow during the current financial year. According to RBI-linked data, Himachal Pradesh raised ₹900 crore in April, ₹500 crore in May and ₹700 crore in June, taking borrowings in the first three months to ₹2,100 crore. A further ₹700 crore was raised in July, taking the total to ₹2,800 crore.
Thakur alleged that the government’s financial approach was leaving an increasing burden for future generations. He said that while the Chief Minister has attributed part of the borrowing requirement to servicing loans inherited from the previous government, the present administration must also explain what steps it has taken to increase state revenue and reduce dependence on debt.
He demanded that the government issue a white paper on the state’s finances, detailing the total fresh borrowing since December 2022, the amount spent on principal and interest repayments, expenditure on development and capital works, and the permanent assets created through the borrowed funds.
Thakur said the people of Himachal Pradesh have the right to know where every rupee borrowed in their name has been spent. The BJP leader asked the government to provide a comprehensive account of the state’s debt position and its impact on Himachal’s future finances.
