Six Reliance companies owe as much to central government: Finance Ministry report

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- During the Corona period, government debt increased to a record low

New Delhi, 19 September 2020 Saturday

By the end of June this year, the debt to the central government had risen to Rs 101.3 lakh crore, according to a shocking report by the finance ministry itself. Reliance Industries Ltd, the country's most valuable company, has a debt of six times its market cap.

In March this year, Reliance had a market cap of Rs 16 lakh crore. At that time, the debt to the government was Rs 94.6 lakh crore. During the Corona period, it increased to Rs 101.3 lakh crore.

On Friday, the finance ministry released its shocking fact in its quarterly report on public debt. At the end of June 2019, the public debt stood at Rs 88.18 lakh crore. At present, it is Rs 101.3 lakh crore.

The finance ministry report further said that the maturity of dated securities was getting less than five years. The government had declared debt securities worth Rs 3,46,000 crore during the first quarter of this year. The company had issued debt securities worth Rs 2,21,000 crore during the same period last year.

Corona turned the tide on all plans of the economy and increased government (public) debt.


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