Centre has scope to borrow much more as debt-to-GDP ratio falling
MoSPI secy
This story was originally published at 19:28 IST on 29 May 2025
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--MoSPI secy: India has more scope to borrow if needed as debt to GDP falling
--CONTEXT: MoSPI Secretary Garg speaking at CII Annual Business Summit
NEW DELHI– The Government of India has "scope to borrow much more", if needed, as the Centre's debt-to-GDP ratio has been declining, Ministry of Statistics and Programme Implementation Secretary Saurabh Garg said. Garg's comments come at a time when the Centre has projected record high market borrowing in each of the past five consecutive years, with INR 14.82 trillion projected on a gross basis for 2025-26 (Apr-Mar).
"I said it based on the declining trend in the ratio (debt-to-GDP)," Garg added on the sidelines of Confederation of Indian Industry's Annual Business Summit 2025. The Centre's debt-to-GDP ratio is likely to come down to 56.1% in FY26 from 57.1% in the past fiscal year.
The central government has also set an aim to bring down the debt-to-GDP ratio in the range of 49-51% by FY31. End
Reported by Krity Ambey
Edited by Deepshikha Bhardwaj
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