Government Debt 62% of GDP For Current Fiscal: Minister

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Government has said that it is capable of paying back its liabilities

Government’s debt is estimated to be around 62 per cent of the GDP for the current financial year and it is in a position of repaying its liabilities, the Parliament was informed on Tuesday.

Minister of state for finance Pankaj Chaudhary said this in a written response to a question during Question Hour in Rajya Sabha.

“Increasing the buoyancy of tax revenue through improved compliance, mobilisation of resources through monetisation of assets, improving efficiency and effectiveness of public expenditure etc are the important measures initiated by Government to control the fiscal deficit and the debt burden,” he said in a written reply in the Rajya Sabha.

Government debt is held predominantly in domestic currency, he said, adding that the Centre is capable of repaying its debt.

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