Public debt in India

Globally, fiscal financing is a ubiquitous issue and in that India is no exception. Whether it is tax revenue sharing between Centre and States, recovering from a financial crisis, or a raging pandemic, all of these have a bearing on a nation’s public debt. While India’s public debt-GDP numbers are not as sordid as in some parts of the world, it is important to understand the factors that have helped shape its public debt dynamics. It is also important to understand the role played by important macro-economic reforms in shaping India’s debt trajectory.

How has public debt evolved in India historically? 

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