Govt debt at 62 pc of GDP; capable of repaying liabilities: MoS Finance Chaudhary

Published on : 08:55 PM Nov 30, 2021

Government debt is held predominantly in domestic currency, Minister of State for Finance Pankaj Chaudhary informed Parliament on Tuesday, adding, "Government is capable to repay its debt."

New Delhi: Central government debt is estimated at about 62 per cent of GDP for this fiscal and it is capable of repaying its liabilities, Minister of State for Finance Pankaj Chaudhary informed Parliament on Tuesday.

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"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, "Government is capable to repay its debt." Advertisement

PTI

Also Read: Indian economy grows 8.4 pc in July-September, surpasses pre-COVID level

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