Did India’s debt exceed Rs 100 lakh crore?
Claim
Central government debt exceeds Rs 100 lakh crore. 54 lakh crore in 2014, 82 lakh crore in 2019 and 101.3 lakh crore in June 2020.
Rating
Description
Due to lack of funds we have been borrowing and implementing all projects in the country. We have been witnessing an increase in outstanding loans to the Central and State Governments over the last few years. According to data released last year, India’s total debt stood at Rs 82 lakh crore. At present, India’s debt burden exceeds Rs 100 lakh crore.
According to data released by the Central Ministry of Finance, total debt during April-June was Rs 101 lakh crore, up from Rs 94.6 lakh crore in March 2020. Public debt has hiked to Rs 92 lakh crore. Debt has risen by Rs 7 lakh crore in the period since the onset of the Corona impact alone.
As India was affected by corona, the country faced a financial condition and production was cut off. This created a debt-only environment of 7 trillion in debt in the first quarter of fiscal 2020 alone.
Explanation
According to data released last year, the country’s total debt hiked to Rs 82,03,253 crore in September 2018 from Rs 54,90,763 crore in 2014. The country’s debt burden increased to 49%. In the six years since 2014, India’s total debt has increased by Rs 46 lakh crore.
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