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The finance minister s comments comes after the International Monetary Fund flagged the possibility of India s general government debt exceeding 100 percent of GDP
New Delhi: In response to the International Monetary Fund's (IMF) warning about alleged government debt vulnerabilities in India, the Central government stated on Friday that certain assumptions have been made which do not accurately represent the actual situation.
The Finance Ministry has raised that a majority of India's general government debt, which includes those of the Centre and states, is in rupees, and external borrowings make up only a small portion.
India debt to GDP ratio 2023: The Central government on Friday highlighted certain assumptions in the IMF report on India's debt outlook that it said "does not reflect factual position." The Finance Ministry also contrasted India's situation with IMF reports on other nations, where the extreme debt-to-GDP ratios were notably higher: 160 per cent for the USA, 140 per cent for the UK, and 200 per cent for China., Economy News, Times Now