India’s debt increased by 50% in Modi’s five year governance

The Modi Government increased the liabilities of the government by 49% in the last 5 years. As per the 8th edition of the status paper of the government debt, the debt stands at INR₹ 82 lakh crore.

When the Modi Government assumed office in 2014, the debt stood at INR₹ 54.9 lakh crore. The surge in the government debt propelled 51.7% growth in public debt from INR₹ 48 lakh crore to INR₹ 73 lakh crore.

Market loans also rose by 47.5% to more than INR₹ 52.7 lakh crore. However the debt through gold bonds stood at INR₹ 9000 crore.

The country’s debt is on the rise year on year. The government breached the fiscal deficit target for the year in the first 8 months itself in November last year.

The fiscal deficit stood at INR₹ 7.17 lakh crore which is 114.8% of the full years target INR₹ 6.24 lakh crore.