The statistic shows the national debt in India from 2020 to 2023 in relation to gross domestic product (GDP), with projections up until 2030. In 2023, the national debt of India amounted to about 81.23 percent of the gross domestic product. India’s economy on the rise India is one of the most populous countries in the world, and although a large share of inhabitants are living below the poverty line – or probably due to this fact –, the country’s economy is growing steadily. India’s GDP growth is expected to remain steady at more than 7 percent for the next few years, which is almost double that of the global GDP, and both GDP and GDP per capita are expected to increase significantly. Almost half of India’s workforce is employed in the agricultural sector, but services and industry share the other half quite equally. India’s GDP is mostly generated by the services sector, which includes transport, retailing, and offering services in the hospitality and tourism industry. India’s trade balance has been in the red for a decade now, but seems to recover slowly. A trade deficit usually means that a country’s import costs are higher than the amount of money generated with exporting goods. India’s imports could not be compensated for by the country’s exports, as imports have been consistently, even if only slightly, higher over the years both in terms of volume and value. Still, all signs point to India’s economy growing and thriving, reducing India’s debt (as seen above) and unemployment rate, enabling the inhabitants to create a better life for themselves.

India debt to gdp ratio for 2018 was 46.52%, a 1.06% decline from 2017.

<ul style='margin-top:20px;'>

<li>India debt to gdp ratio for 2017 was <strong>47.58%</strong>, a <strong>0.05% decline</strong> from 2016.</li>
<li>India debt to gdp ratio for 2016 was <strong>47.63%</strong>, a <strong>2.33% decline</strong> from 2015.</li>
<li>India debt to gdp ratio for 2015 was <strong>49.96%</strong>, a <strong>0.06% increase</strong> from 2014.</li>
</ul>Debt is the entire stock of direct government fixed-term contractual obligations to others outstanding on a particular date. It includes domestic and foreign liabilities such as currency and money deposits, securities other than shares, and loans. It is the gross amount of government liabilities reduced by the amount of equity and financial derivatives held by the government. Because debt is a stock rather than a flow, it is measured as of a given date, usually the last day of the fiscal year.

Key information about India Government Debt: % of GDP

• India Government debt accounted for 57.2 % of the country's Nominal GDP in Sep 2024, compared with the ratio of 57.1 % in the previous quarter.
• India government debt to GDP ratio data is updated quarterly, available from Mar 2012 to Sep 2024.
• The data reached an all-time high of 58.8 % in Sep 2023 and a record low of 44.6 % in Dec 2018.

CEIC calculates quarterly Government Debt as % of Nominal GDP from quarterly Government Debt and rolling sum of quarterly Nominal GDP. The Ministry of Finance provides Government Debt in local currency. Ministry of Statistics and Programme Implementation provides Nominal GDP in local currency. Government Debt covers Central Government only.


Related information about India Government Debt: % of GDP

• In the latest reports, India National Government Debt reached 2,144.6 USD bn in Sep 2024.
• The country's Nominal GDP reached 873.7 USD bn in Mar 2023.

In fiscal year 2024, the external debt to GDP ratio in India was 18.7 percent. This was a slight decrease compared to the previous fiscal year, when the country's external debt to GDP ratio was about 19 percent.

Key information about India External Debt: % of GDP

• India External Debt accounted for 18.9 % of the country's Nominal GDP in 2023, compared with the ratio of 20.0 % in the previous year.
• India External Debt: % of Nominal GDP data is updated yearly, available from Mar 1970 to Mar 2023.
• The data reached an all-time high of 38.2 % in Mar 1992 and a record low of 10.9 % in Mar 1980.

CEIC calculates External Debt as % of Nominal GDP from annual External Debt and annual Nominal GDP. The Ministry of Finance provides External Debt in local currency. Ministry of Statistics and Programme Implementation provides Nominal GDP in local currency based on SNA 2008, at 2011-2012 prices. External Debt as % of Nominal GDP is in annual frequency, ending in March of each year.


Related information about India External Debt: % of GDP

• In the latest reports of India, Current Account recorded a deficit of 1.3 USD bn in Mar 2023.
• Foreign Direct Investment (FDI) increased by 9.3 USD bn in Mar 2023.
• India Direct Investment Abroad expanded by 3.0 USD bn in Mar 2023.
• Its Foreign Portfolio Investment fell by 1.6 USD bn in Mar 2023.
• The country's External Debt reached 624,653.7 in Mar 2023.
• The country's Nominal GDP was reported at 873.7 USD bn in Mar 2023.

India: Government debt as percent of GDP: The latest value from 2023 is 83.02 percent, an increase from 81.68 percent in 2022. In comparison, the world average is 61.85 percent, based on data from 137 countries. Historically, the average for India from 1991 to 2023 is 75.09 percent. The minimum value, 67.1 percent, was reached in 2014 while the maximum of 88.43 percent was recorded in 2020.

In 2024, the national debt of India amounted to around 3.16 trillion U.S. dollars. Projections show an upward trend, with a significant increase each year. Honor thy national debtNational debt, also called government debt or public debt, is money owed by the federal government. It can be divided into internal debt, (which is owed to lenders in the country) and external debt (which is owed to foreign lenders). National debt is created and increased by using government bonds, for example, or by borrowing money from other nations due to financial struggles (well-known case in point: Greece). A quite complex issue, national debt is expected to be paid back in accordance with certain regulations overseen by the Bank for International Settlements (BIS), a financial organization owned by central banks. India’s debt is rising, but so is its economic growthIndia’s liabilities have increased significantly, and forecasts show no end in sight. While India is a fast-growing economy and considered one of the main emerging economies, the so-called BRIC countries, India has been investing and borrowing money from commercial banks as well as several non-banking finance companies, and its national debt today makes up almost 70 percent of its GDP. Luckily, even though the national debt is forecast to increase, this share of GDP is predicted to decrease, as is the trade deficit in the long run, despite a significant jump back into the red in 2017.

Graph and download economic data for General government gross debt for India (GGGDTAINA188N) from 1991 to 2023 about India, gross, debt, and government.

In financial year 2024, the internal debt of the central government of India was estimated to over 49 percent of the GDP, a slight increase compared to the previous year. The internal debt share was fluctuating between 37 and 39 percent during the period from 2012 to 2020.

Households Debt in India decreased to 42.10 percent of GDP in the third quarter of 2024 from 42.30 percent of GDP in the second quarter of 2024. This dataset provides - India Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about India Private Debt: % of Nominal GDP

• India Private Debt accounted for 51.51 % of its Nominal GDP in Mar 2022, compared with a ratio of 51.82 % in the previous quarter
• India Private Debt contribution to Nominal GDP ratio is updated quarterly, available from Mar 1997 to Mar 2022, with an average share of 50.05 %
• The data reached an all-time high of 56.38 % in Mar 2021 and a record low of 24.04 % in Sep 1997

CEIC calculates quarterly Private Debt as % of Nominal GDP from quarterly Private Debt and quarterly Nominal GDP. The International Monetary Fund provides Private Debt in local currency. Ministry of Statistics and Programme Implementation provides Nominal GDP in local currency based on SNA 2008 at 2011-12 prices. Private Debt as % of Nominal GDP prior to Q1 2012 is calculated from Nominal GDP based on a combination of SNA 2008 and SNA 1993, at 2004-2005 prices and prior to Q1 2005 is based on SNA 1993, at 1999-2000 prices. Private Debt includes Financial Sector.

The outstanding external debt of the central government of India as a percent of the country's Gross Domestic Product was estimated to 1.8 percent in financial year 2024. This was a slight increase compared to the financial year 2020's 1.5 percent debt.

In fiscal year 2024, the debt services ratio in India was about 6.5 percent. This was a slight increase compared to the previous fiscal year, when the ratio stood at nearly 5.3 percent. Debt service ratio refers to the debt service payments (principal and interest) of a country to the export earnings of the country.

Household debt to GDP, in percent in India, September, 2024 The most recent value is 42.1 percent as of September 2024, a decline compared to the previous value of 42.3 percent. Historically, the average for India from June 2007 to September 2024 is 36.6 percent. The minimum of 31.1 percent was recorded in September 2016, while the maximum of 43.2 percent was reached in September 2007. | TheGlobalEconomy.com

Key information about India Household Debt: % of GDP

• India household debt accounted for 17.1 % of the country's Nominal GDP in Mar 2024, compared with the ratio of 14.9 % in the previous year.
• India household debt to GDP ratio is updated yearly, available from Mar 1998 to Mar 2024.
• The data reached an all-time high of 17.1 % in Mar 2024 and a record low of 2.2 % in Mar 1999.

CEIC calculates annual Household Debt as % of Nominal GDP from annual Household Debt and annual Nominal GDP. The Reserve Bank of India provides Household Debt in local currency. Ministry of Statistics and Programme Implementation provides Nominal GDP in local currency based on SNA 2008, at 2011-2012 prices. Loans are used due to the lack of Flow of Funds statistics. Household Debt includes Consumer Durables, Housing and Rest of Personal Loans. Household Debt as % of Nominal GDP is in annual frequency, ending in March of each year.


Related information about India Household Debt: % of GDP

• In the latest reports, India Household Debt reached 617.3 USD bn in Mar 2024.
• Money Supply M2 in India increased 7.9 % YoY in Nov 2024.
• India Foreign Exchange Reserves was measured at 547.5 USD bn in Dec 2024.
• The Foreign Exchange Reserves equaled 9.2 Months of Import in May 2023.
• India Domestic Credit reached 3,168.1 USD bn in Dec 2024, representing an increased of 11.1 % YoY.
• The country's Non Performing Loans Ratio stood at 2.8 % in Mar 2024, compared with the ratio of 3.9 % in the previous year.

Central government debt, total (% of GDP) in India was reported at 46.52 % in 2018, according to the World Bank collection of development indicators, compiled from officially recognized sources. India - Central government debt, total (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

The statistic shows Japan's national debt from 2020 to 2023 in relation to gross domestic product (GDP), with projections up until 2030. In 2023, the national debt of Japan amounted to about 239.97 percent of the gross domestic product. An eye on Japan’s national debt Japan’s national debt ranks first among countries with the highest debt levels in the world, far surpassing the debt levels of Greece - which ranks number two - whose financial crisis has been in the spotlight recently. Italy is third, followed by Jamaica, Lebanon and Enritrea. Currently, Japan’s national debt amounts more than a thousand trillion yen and the country’s debt is predicted to keep rising for the foreseeable future, albeit only slightly. Japan’s national debt is not without consequence for the global economy, because the country claims the fourth-largest share in global gross domestic product. Therefore, the effects on the global economy would and could have a much greater global impact than that of a country such as Greece - considering its share of the global economy adjusted for purchase power parity was less than 0.29 percent in 2011. The debt levels of China, the United States and India should also be watched closely as they together make up the largest share of global GDP. At the moment, Japan’s inflation rate is among the lowest in the world, but as Japan attempts to reduce its national debt, this could change.

The dataset contains All India Yearly Central and State Government Debt Indicators as percentage to GDP from Handbook of Statistics on Indian Economy.

Note: 1. Data for 2022-23 are Revised Estimates and data for 2023-24 are Budget Estimates. 2. External liabilities of the Centre is at current exchange rate. 3. Total liabilities of the States, Combined domestic liabilities of Centre & States and Combined total liabilities of the Centre & States have been revised to include 'reserve funds', 'deposits and advances' and 'contingency fund' of State Governments. 4. Data in respect of Combined finances are exclusive of NCT Delhi from 2005-06 onwards. 5. Combined and Centre's liabilities are inclusive of securities/treasury bills under market stabilisation scheme (MSS). 6. GDP data for 2023-24 is taken from Union Budget 2023-24. 7. Combined total liabilities of Centre & States is the sum of External liabilities of the Centre and Combined domestic liabilities of Centre & States

This dataset provides values for PRIVATE DEBT TO GDP reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Key information about India External Debt: Short Term: % of GDP

• India External Debt: Short Term accounted for 3.5 % of the country's Nominal GDP in 2024, compared with the ratio of 3.9 % in the previous year.
• India External Debt: Short Term: % of Nominal GDP data is updated yearly, available from 1990 to 2024.
• The data reached an all-time high of 5.3 % in 2013 and a record low of 0.6 % in 2002.

CEIC calculates Short Term External Debt as % of Nominal GDP from annual Short Term External Debt and annual Nominal GDP. The Ministry of Finance provides Short Term External Debt in local currency. Ministry of Statistics and Programme Implementation provides Nominal GDP in local currency based on SNA 2008, at 2011-2012 prices. Short Term External Debt as % of Nominal GDP is in annual frequency, ending in March of each year.


Related information about India External Debt: Short Term: % of GDP

• In the latest reports of India, Current Account recorded a deficit of 11.2 USD bn in Sep 2024.
• Foreign Direct Investment (FDI) increased by 5.0 USD bn in Sep 2024.
• India Direct Investment Abroad expanded by 7.3 USD bn in Sep 2024.
• Its Foreign Portfolio Investment increased by 19.8 USD bn in Sep 2024.
• India External Debt: Short Term value stood at 133.6 USD bn in Mar 2024.
• The country's Nominal GDP was reported at 873.7 USD bn in Mar 2023.