Government looks to keep borrowing in check

March 8, 2023

The big pandemic stimulus and the contraction in the economy worsened the combined Centre and state debt-to-GDP ratio to 89.2% in FY21 from 75.1% in FY20. The International Monetary Fund (IMF) has forecast the ratio will improve to 83.5% of GDP in FY23 and gradually ease from FY26 onwards.

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