What is Public debt

Public debt

About Public debt

What is Public debt

Public debt is the total amount, including total liabilities, borrowed by the government to meet its development budget. It has to be paid from the Consolidated Fund of India. The term is also used to refer to overall liabilities of central and state governments, but the Union government clearly distinguishes its debt liabilities from the states’.
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The central government broadly classifies its liabilities into two categories — debt contracted against the Consolidated Fund of India, and public account.
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Over the years, the Union government has followed a considered strategy to reduce its dependence on foreign loans in its overall loan mix. Internal debt constitutes over 93 per cent of the overall public debt. Internal loans that make up for the bulk of public debt are further divided into two broad categories – marketable and non-marketable debt.
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The sources of public debt are dated government securities (G-Secs), treasury bills, external assistance, and short-term borrowings.
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According to the Reserve Bank of India Act, 1934, the RBI is both the banker and public debt manager for the government. The RBI handles all the money, remittances, foreign exchange and banking transactions. The Union government also deposits its cash balance with the RBI.
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The Union government’s liabilities account for a little over 46 per cent of India’s gross domestic product (GDP). However, if the public debt is calculated as general government liabilities, which also includes the liabilities of states, this goes up to 68 per cent of the country’s GDP.
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Latest Updates on Public debt

Sebi, RBI widen investigation into public debt issue subscriptions: Report

3 min read Last Updated :Mar 08 2024 | 7:13 PM IST
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Sebi bars JM Financial from acting as lead manager of debt issue

3 min read Last Updated :Mar 07 2024 | 11:03 PM IST
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Positive outlook

3 min read Last Updated :Dec 21 2023 | 8:58 PM IST
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US public debt is projected to reach 181% of economic activity in 30 years

3 min read Last Updated :Jun 29 2023 | 7:01 AM IST
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Debt and its dangers

6 min read Last Updated :May 03 2023 | 10:32 PM IST
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Uttar Pradesh govt's public debt estimated to touch Rs 7.84 trillion

3 min read Last Updated :Mar 10 2023 | 11:28 PM IST
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IMF calls for 'more ambitious' fiscal consolidation by India, cites risks

4 min read Last Updated :Dec 23 2022 | 11:59 PM IST
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Govt looks to expand debt management cell as PDMA remains in backburner

4 min read Last Updated :May 04 2022 | 8:39 PM IST
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Punjab CM Mann orders probe on why public debt swelled to Rs 3 trn

3 min read Last Updated :Apr 18 2022 | 9:40 PM IST
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Gujarat's public debt crosses Rs 3 trn; amount within norms, says state FM

2 min read Last Updated :Mar 15 2022 | 9:41 PM IST
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Does Japan vindicate Modern Monetary Theory?

5 min read Last Updated :Dec 31 2021 | 11:11 PM IST
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RBI warns against combination of high public debt, low interest rates

2 min read Last Updated :Jul 02 2021 | 5:47 PM IST
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Elevated public debt in fiscal year 2021 matter of concern: Report

4 min read Last Updated :Apr 15 2021 | 4:00 PM IST
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India's public finances and private sector at taper tantrum risk

4 min read Last Updated :Mar 22 2021 | 6:10 AM IST
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ArcelorMittal lists India's high public debt as risk factor for investments

3 min read Last Updated :Mar 15 2021 | 11:32 PM IST
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UP's public debt to rise Rs 6.11 trn in FY22, driven by Covid-19 impact

2 min read Last Updated :Mar 14 2021 | 6:45 PM IST
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Fiscal doves in India: right and wrong

4 min read Last Updated :Feb 17 2021 | 4:09 AM IST
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Interest on public debt may eat away half of govt tax revenue in FY21, FY22

4 min read Last Updated :Feb 08 2021 | 6:10 AM IST
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Handle debt with care

3 min read Last Updated :Feb 04 2021 | 10:06 PM IST
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Public debt in India - II

6 min read Last Updated :Nov 27 2020 | 10:18 PM IST
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