The surge in debt has been propelled by 51.7% growth in public debt from Rs 48 lakh crore to Rs 73 lakh crore.

Total liabilities of the government has increased 49 per cent to Rs 82 lakh crore in the last four-and-half years during the Narendra Modi government , as per the 8th Edition of the Status Paper on Government Debt released Friday.

Compared to the latest data available till September 2018 when the total debt of the Central government stood at Rs 82,03,253 crore, the corresponding amount till June 2014 was Rs 54,90,763 crore, the Finance Ministry ‘s data on government borrowings shows.

The huge surge in government’s debt has been propelled by 51.7 per cent growth in public debt from Rs 48 lakh crore to Rs 73 lakh crore in the four-and-half year period, which in turn was driven by 54 per cent rise in internal debt to about Rs 68 lakh crore.

Dependence on market loans show a similar rise of 47.5 per cent to more than Rs 52 lakh crore during the period. While debt raised through gold bonds was nil at the end of June 2014, it stood at Rs 9,089 crore including the gold monetisation scheme

The Central government, in the status paper on government debt, gave a detailed analysis of the overall debt position of the government of India. It has been bringing out an annual status paper on government debt since 2010-11, the Finance Ministry said.

“The overall liabilities of the Central government are on a medium-term declining trajectory and government’s debt portfolio is characterised by prudent risk profile,” the paper, covering details of fiscal deficit financing operations of the government, however, said.

“Government is primarily resorting to market-linked borrowings for financing its fiscal deficit. Conventional indicators … indicate that debt profile of the government is comfortably placed in terms of debt sustainability parameters and is consistently improving,” it added.

While the country’s debt has been on the rise, little help is expected from the fiscal deficit side in the current financial year. The fiscal deficit in the first eight months till November stands at Rs 7.17 lakh crore, or 114.8 per cent of the Rs 6.24 lakh crore full year’s target.

Courtesy :economictimes

Leave a Reply

Sign Up for Our Newsletters

Get notified of the best deals on our WordPress themes.

You May Also Like

India’s debt under Modi govt surges 50% to Rs 82 lakh crore

Compared to the latest data available till September 2018 when the total…

Gujarat CM Anandiben Patel daughter’s partners got 422 acres land at 92% discount

Business associates of Gujarat CM Anandiben Patel’s daughter, Anar Patel, got 422…

Modi-Shah are grandfathers of corruption: TMC lists A to Z of BJP scams

From Bihar CM Nitish Kumar’s ‘Srinjan scam’ to Textiles Minister Smriti Irani’s…

BJP has highest number of MPs and MLAs with cases of crimes against women, says study

Maharashtra has the highest number of MPs/ MLAs with declared crimes against…