FCC

Government interest payments increase by 3.1 per cent GDP

2022-07-27

The government's interest payments have grown to 3.1 per cent of GDP, or Rs 7.31 trillion, in 2021-22, reportedly according to Minister of State for Finance, Pankaj Chaudhary. In 2014-15, interest on public debt was 3.27 trillion, or 2.6 per cent of GDP. The entire central government liabilities in 2014-15 were Rs 62.44 trillion, or 50.1 per cent of GDP. By the end of 2021-22, this figure has risen to Rs 138.88 trillion, or 58.7 per cent of GDP. In the current fiscal year, the Centre's debt is expected to reach 60.2 per cent of GDP, or Rs 155.33 trillion. The combined state and central government liabilities have increased from Rs 76.27 trillion (61.2 per cent of GDP) in 2014-15 to Rs 195.49 trillion (82.6 per cent of GDP).