Government, national debt: India
This is a collection of articles archived for the excellence of their content. |
Is government debt a trap?
NO ALWAYS A TRAP
The Times of India Sep 23 2014
Is a high level of debt a sign of a country being in economic distress? Not necessarily. IMF estimates on gross government debt indicate that while countries undergoing economic crisis have high debt to GDP ratios, so do some of the world's most advanced economies. For instance, the gross debt of the government of Greece, a country going through a tough economic phase, is 174% of its GDP. The US, the world's largest economy, had government liabilities exceeding its economic output. Emerging economies typically have relatively lower debts. The lowest debt levels, however, are for countries with economies based on oil exports
Government of India: Debt
NO DEBT TRAP
The Times of India Feb 02 2015
Central Government's Outstanding External Debt Source: Indian Public Finance Statistics 2013-2014, figures for 1970-71 were not available, amount in Rs crore, *figures are provisional In the early years of Independence, India was dependent more on aids than exports for getting foreign exchange. In the 39 years between 1960-61 and 1999-2000, the country's foreign debt was always more than its exports. In 1968-69, foreign debt was more than four and a half times the country's exports, the highest level among years for which data is available. Since 1991-92, debt as a percentage of exports has witnessed a steady decline, which means servicing the debt is easier today.Interest as percentage of total debt has also witnessed a steady decline
