To what extent did the Modi government's debt increase?
To what extent did the Modi government's debt increase?The nda administration led by narendra modi took office for the first time in the year 2014. The Department of Economic Affairs (DEA) estimates that as of march 31, 2014, the national government owed over Rs 54 lakh crore, or 47% of GDP. This debt was less than half of the GDP during the first term of the Modi administration, which ran from 2014 to 2019. The second term saw a considerable growth in the debt. This debt amounted to Rs 172 lakh crore by march 2024, when the Modi government's second term came to a conclusion. This amount represents 58% of the GDP. That is, the nation's debt has grown by more than three times in the past ten years.How much didthe debt increase in the UPA government?In the year 2004, the UPA government came to power under the leadership of Congress. Then the central government had a debt of about 20 lakh crores. It is worth noting that this figure of debt was the highest at 61.6 percent of the GDP. The good thing is that after this the percentage of debt as per GDP kept decreasing continuously. This trend continued till 2017. The debt had reduced to half of the GDP. During the 10-year tenure of the UPA government, by 2014, the debt burden on the country had increased by two and a half times to about 54 lakh crores, which was 47.5 percent of GDP.Debt situation in UPA-NDA governmentOne thing is common that both the governments took loans. The amount of debt kept increasing continuously in both the governments. In 20 years, the debt increased from 19.94 lakh crores to 171.78 lakh crores i.e. more than 8.6 times. However, the percentage of debt to GDP decreased in the UPA government. There were ups and downs during the nda government. Especially due to the Corona epidemic, the debt increased a lot in 2020-21. Corona spoiled all the calculations. Now by 2024-25, the nda has set a target to reduce the debt limit to 56.8%.