'Govt debt at 62% of GDP; can repay liabilities'

Government debt at 62% of GDP; capable of repaying liabilities: MoS Finance Pankaj Chaudhary

Government debt is held predominantly in domestic currency, Pankaj Chaudhary said, adding, 'Government is capable to repay its debt'

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. Credit: iStock Photo

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.

"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."

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