Ratio of India\'s public debt to GDP likely to scale a new high in FY21

Ratio of India's public debt to GDP likely to scale a new high in FY21

According to the Reserve Bank of India (RBI) data, the combined liabilities of the Centre and the state governments were around Rs 147 trillion at the end of March 2020

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GDP ratio | India GDP growth | Lockdown

Krishna Kant & Indivjal Dhasmana  |  Mumbai/New Delhi 

The ratio of India’s public debt to GDP is expected to scale a new high at the end of FY21 due to record borrowing by the central and state governments and an expected contraction in the country’s gross domestic product (GDP) during the fiscal year.

According to the Reserve Bank of India (RBI) data, the combined liabilities of the Centre and the state governments were around Rs 147 trillion at the end of March 2020, and that translated into a public debt to GDP ratio of 72.1 per cent at the end of last fiscal year (given the nominal GDP of Rs 203 trillion). Economists now ...
First Published: Mon, May 25 2020. 23:42 IST