Lok Sabha Question No. 2986 (UNSTARRED), answered on 2023-08-07
Subject: Total Debts of Government
Ministry: FINANCE
Asked by: S.R. Parthiban

(a) & (b)

- (i) The Central Government's debt was ₹ 58.6 lakh crore (52.2 % of GDP) and ₹ 155.6 lakh crore (57.1% of GDP) as on 31 st March, 2014 and 31 st March, 2023, respectively. At the end of FY 201920,  the  Central  Government  debt  was  ₹ 105.1  lakh  crore  (52.4%  of  GDP),  which  increased to  ₹ 121.9 lakh crore (61.5% of GDP) at the end of FY 2020-21. This change in Central Government debt by about 9% of GDP in a single year was mainly on account of Covid-19 pandemic, which hugely disrupted projections of Government's public finances. However, the Central Government's debt has declined to 57.1% of GDP at the end of FY 2022-23. It needs to be noted that, India's nominal GDP has increased from ₹112.34 lakh crore in FY 2013-14 to ₹272.41 lakh crore in FY 2022-23.
- (ii) The risk profile of Central Government's debt stands out as safe and prudent in terms of accepted parameters  of  indicator-based  approach  for  debt  sustainability.  The  Government  debt  is  held predominantly  in  domestic  currency.  As  on  31 st March,  2014,  Government's  external  debt  (at current exchange rate) was 6.4% of total debt and 3.3% of GDP, which has declined to 4.8% of total debt and 2.7% of GDP as on 31 st March, 2023. Government's external debt is financed mainly from  multilateral  and  bilateral  agencies.  The  details  of  Government's  external  debt  as  on  31 st March, 2014 and 31 st March, 2023 are provided at Annexure-I .

****

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF ECONOMIC AFFAIRS

## LOK SABHA

## UNSTARRED QUESTION NO.2986

TO BE ANSWERED ON MONDAY, THE 07 th  AUGUST, 2023 SRAVANA 16, 1945 (SAKA)

## Total Debts of Government

## 2986. SHRI PARTHIBAN S.R.

Will the Minister of FINANCE be pleased to state:

- a. the total debts of the Indian Government till date, amount-wise and country-wise; and
- b. the total debts as on 2014, country-wise and amount-wise?

## ANSWER

\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_

## MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI PANKAJ CHAUDHARY)

## (Amount in ₹ crore)

| Government's External debt (valued at current exchange rate as on 31 st March)   | Government's External debt (valued at current exchange rate as on 31 st March)   | Government's External debt (valued at current exchange rate as on 31 st March)   |
|----------------------------------------------------------------------------------|----------------------------------------------------------------------------------|----------------------------------------------------------------------------------|
| Financial Institution/country                                                    | As on 31 st March, 2014                                                          | As on 31 st March, 2023 (Prov.)                                                  |
| Multilateral (A)                                                                 |                                                                                  |                                                                                  |
| International Bank for Reconstruction and Development                            | 53,433                                                                           | 1,35,746                                                                         |
| International Development Association                                            | 1,61,165                                                                         | 1,53,736                                                                         |
| International Fund for Agriculture Development                                   | 2,182                                                                            | 3,915                                                                            |
| Asian Development Bank                                                           | 51,469                                                                           | 1,61,193                                                                         |
| New Development Bank                                                             | 0                                                                                | 29,793                                                                           |
| Asian Infrastructure Investment Bank                                             | 0                                                                                | 28,747                                                                           |
| European Economic Community                                                      | 154                                                                              | 71                                                                               |
| Organisation of Petroleum Exporting Countries                                    | 88                                                                               | 84                                                                               |
| European Investment Bank                                                         | 0                                                                                | 8,488                                                                            |
| Total (A)                                                                        | 2,68,491                                                                         | 5,21,773                                                                         |
| Bilateral (B)                                                                    |                                                                                  |                                                                                  |
| Germany                                                                          | 16,085                                                                           | 22,615                                                                           |
| France                                                                           | 2,517                                                                            | 9,402                                                                            |
| Japan                                                                            | 79,825                                                                           | 1,69,381                                                                         |
| Switzerland                                                                      | 12                                                                               | 0                                                                                |
| USA                                                                              | 1,453                                                                            | 274                                                                              |
| Russian Federation                                                               | 6,099                                                                            | 25,448                                                                           |
| Italy                                                                            | 2                                                                                | 2                                                                                |
| Total (B)                                                                        | 1,05,993                                                                         | 2,27,122                                                                         |
| Grand Total (A+B)                                                                | 3,74,484 (3.3 %of GDP)                                                           | 7,48,895 (2.7% of GDP)                                                           |

Source: Union Government Finance Accounts for position at the end of FY 2013-14 & CAA&A for FY 2022-23