India Total External Debt (2024)

FAQs

India Total External Debt? ›

At end-September 2023, India's external debt was placed at US$ 635.3 billion, recording an increase of US$ 6.4 billion over its level at end-June 2023 (Table 1).

The Union government's debt was ₹155.6 trillion, or 57.1% of GDP, at the end of March 2023, with state governments adding about 28% of GDP to the overall debt burden. India's public debt-to-GDP ratio slightly increased from 81% in 2005-06 to 84% in 2021-22, and then back to 81% in 2022-23.

The central government's debt was ₹155.6 trillion, or 57.1% of GDP, at the end of March 2023 and the debt of State governments was about 28% of GDP. As stated by the Finance Ministry, India's public debt-to-GDP ratio has barely increased from 81% in 2005-06 to 84% in 2021-22, and is back to 81% in 2022-23.

The Indian government has allocated ₹5,667.56 crore as grants and loans to foreign governments for the fiscal year 2024-25. Bhutan is the primary recipient of Indian government grants and loans. The loan provided in the fiscal year 2023-24 exceeded the budget estimates for grants and loans in 2024-25.

India's external debt was US$570 billion at the end of March 2021. It recorded an increase of US$11.6 billion over its level at end of March 2020. The external debt to GDP ratio declined to 19.9 per cent at end-March 2022 from 21.2 per cent at end-March 2021.

In India, a large portion of this is because of expenditures on interest. They pay a lot of interest on their debt: 5.4% of GDP is spent on that, and the primary deficit is 3.45. So together they add up to 8.8%," he said. Responding to a question, Mooij said that India's debt is not projected to rise like in China.

The US dollar denominated debt remained the largest component of India's external debt with a share of 54.7 per cent at end-September 2023, followed by Indian Rupee (30.5 per cent), SDR (5.7 per cent), Japanese Yen (5.6 per cent), and Euro (2.9 per cent).

In 2023, aggregate local government debt had risen to 92 trillion yuan ($12.58 trillion) and the central government of People's Republic of China ordered its banks to roll over debts in a debt-restructuring. China's gross external debt in 2023 was $2.38 trillion.

Is India in debt crisis? ›

General government debt includes debt of both the Centre and the States, and had dipped “steeply” from about 88% in 2020-21 to about 81% in 2022-23, the Ministry said, sharing a cross-country comparison on debt levels to assert that “India has done relatively well and is still below the debt level of 2002”.

Despite the multitude of shocks, the global economy has faced in the past two decades, India's public debt-to-GDP ratio at the general government level has barely increased from 81 percent in 2005-06 to 84 percent in 2021-22, and back to 81 percent in 2022-23."

In the fiscal year ending March 31, 2023, the central government's debt stood at Rs 155.6 trillion, or 57.1 percent of the GDP. The debt of state governments stood at 28 percent of the GDP.

US owes India USD 216 billion as American debt soars to USD 29 trillion: lawmaker. The Congressional Budget Office estimates an additional USD 104 trillion will be added by 2050.

Pakistan's total debt and liabilities reached Rs 81.194 trillion by the end of December 2023, showing a 27.2% increase from Rs 63.834 trillion in the same period of the previous fiscal year.

External Debt in the United States increased to 25984649 USD Million in the fourth quarter of 2023 from 25649607 USD Million in the third quarter of 2023.

Top 10 territories that own the most U.S. debt

Japan owns the most at $1.1 trillion, followed by China, with $859 billion, and the United Kingdom at $668 billion.

Top Foreign Holders of U.S. Debt

With $1.1 trillion in Treasury holdings, Japan is the largest foreign holder of U.S. debt.

Debt rises when the U.S. spends more than it earns from taxes and other revenue. The public debt results from tax and spending policies that commonly garner public support, but individuals often worry about how the national debt affects their lives and finances.

China and the US remain two of the leading countries with the highest debt-to-GDP ratios. Emerging economies and low-income economies are the most affected by debt vulnerabilities.