Fiscal fortitude: India’s debt-to-GDP record dwarfs shaky G7
Budget marks a significant shift from a qualitative goal to a specific, measurable target to 50 per cent by 2031. Since 2013, India’s average central government debt-to-GDP ratio has been 49.03 per cent. The USA’s central government debt-to-GDP ratio has remained above 100 per cent since 2020, as also Japan’s, Italy’s and UK’s (barring 2022, when it was marginally lower)
