The IMF, in a so-called article IV evaluate, stated India’s common authorities debt, which incorporates federal and state authorities debt, might be 100% of GDP underneath hostile circumstances by fiscal 2028.
The Indian authorities stated on Friday a warning from the Worldwide Financial Fund (IMF) that the nation’s debt to GDP ratio may hit 100% was a worst-case state of affairs, and never a “fait accompli”.
The IMF, in a so-called article IV evaluate, stated India’s common authorities debt, which incorporates federal and state authorities debt, might be 100% of GDP underneath hostile circumstances by fiscal 2028.
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India’s finance ministry stated this was “a worst-case state of affairs and isn’t fait accompli”.
India’s debt to GDP ratio, which was 81% in 2022/23, could decline to beneath 70% in the identical interval underneath beneficial circumstances, the IMF report additionally stated, in accordance with the ministry.
“Subsequently, any interpretation that the report implies that Normal Authorities debt would exceed 100% of GDP within the medium time period is misconstrued,” the ministry added.
First printed on: 22-12-2023 at 23:48 IST
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