1.40 lakh loan on every citizen of the country; India has ₹205 lakh crore debt, IMF warns; Where is the money being spent?
India’s total debt (outstanding debt or bonds) increased to $ 2.47 lakh crore (Rs 205 lakh crore) in the July-September quarter (Q2) of the current financial year 2023-24. This information has been given in a report. The total debt in the January-March quarter of the last financial year was $ 2.34 trillion (Rs 200 lakh crore). Vishal Goenka, co-founder of Indiabonds.com, citing Reserve Bank of India (RBI) data, said, “The debt of the central government stood at $ 1.34 lakh crore i.e. Rs 161.1 lakh crore in the September quarter, which was Rs 1.06 lakh crore in the March quarter. Dollar i.e. Rs 150.4 lakh crore.
Indiabonds.com, launched in the year 2021, is an online bond platform registered with the stock market regulator SEBI. It has prepared this report by collecting data from RBI, Clearing Corporation of India (CCI) and Securities and Exchange Board of India (SEBI). According to the report, the central government has the highest debt of Rs 161.1 lakh crore i.e. 46.04 percent of the total debt. After this, the share of state governments in debt is 24.4 percent i.e. 604 billion dollars (Rs 50.18 lakh crore).
It said that the fiscal expenditure is 111 billion dollars i.e. 9.25 lakh crore rupees, which is 4.51 percent of the total debt. According to the report, in the second quarter of the current financial year, the share of corporate bonds in the total debt was 21.52 percent, which is $ 531 billion (Rs 44.16 lakh crore).
