Corona's havoc! Debt-GDP ratio rises to 90 per cent, increase in country's debt
Due to the Corona crisis, the debt-GDP ratio of the country has reached 90 percent. Information about this has been issued by the International Monetary Fund (IMF).
8th April, 2021
Due to the spread of the Corona epidemic in the country (COVID 19), the country's debt-GDP ratio has reached a historical level. According to the report released by the International Monetary Fund (IMF), the country's debt was 74 percent in the year 2020, which has risen to 90 percent in the Corona crisis. In the year 2020, the total GDP of the country stood at Rs 189 lakh crore. At the same time, the debt was around 170 lakh crore rupees.
According to the report released by the IMF, the country's debt has increased, but due to the improvement and recovery in the economy at this time, this ratio can be reduced by about 10 percent. That is, soon this ratio will be 80 percent.
Know what according to information received by Deputy Director Paolo Morro PTI, IMF's financial matters Department's deputy director Paolo Morrow said, "India's debt ratio was 74 percent of GDP in 2019, before the Corona epidemic, but in 2020 it has come down to around 90 percent of GDP. This increase is quite high, but the situation is the same for other emerging markets or advanced economies.
Further, he said that our guess is that the way the economy of the country will improve. The country's debt will also be reduced. With this, soon this debt will reach 80 percent.
Companies and people should be helped
Paolo Morrow said that in this crisis, we should help the companies and people of the country so that they can further their work. This will also speed up the country's economy. It is also important to reassure the general public and investors that public finances will remain in control and will be done through a credible medium-term fiscal framework.
Khushbu Kumari Jha