Government estimates its total debt to increase to Rs 185 trn in FY25

The government estimates its debt, including external borrowing, valued at current exchange rate and public account and other liabilities will increase to Rs 185 lakh crore, or 56.8 per cent of the GDP, during the current fiscal year.

The total debt stood at Rs 171.78 lakh crore, or 58.2 per cent of the gross domestic product (GDP), at the end of March 2024, Minister of State for Finance Pankaj Chaudhary said in a written reply to the Lok Sabha on Monday.

As per the International Monetary Fund, World Economic Outlook, April 2024, India's Gross Domestic Product at current prices has already reached USD 3.57 trillion in 2023-24, he said.

Replying to another question, Chaudhary said the growth rate of the private final consumption expenditure (PFCE) at constant prices in 2022-23 and 2023-24 is 6.8 per cent and 4 per cent, respectively, he said, quoting provisional GDP estimates for 2023-24 released by the National Statistical Office.

The growth rate of PFCE at current prices in 2022-2