The International Monetary Fund (IMF) has warned that India’s general government debt may exceed 100% of gross domestic product (GDP) in the medium term, Business Standard reported, saying that long-term risks are high because the country needs considerable investment to improve resilience to climate stresses and natural disasters.-https://thewire.in/government/imf-warns-india-on-debt-concerns-says-it-may-exceed-100-of-gdp-centre-disagrees
The central government’s debt stood at Rs 155.6 trillion, or 57.1% of GDP, at the end of March 2023. During the same period, the debt of state governments stood at about 28% of GDP, Mint reported.
India’s per capita income in nominal terms doubled to Rs 1,72,000 since 2014-15 when the Narendra Modi-led NDA came to power. That said, uneven income distribution remains a challenge, exacerbated by the Covid-19 pandemic which gave rise to the ‘K-shaped’ growth phenomenon.
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