In a written reply, minister of state for finance Pankaj Chaudhary said the Centre’s internal debt ratio has been moderating since hitting 58.3% of GDP in the Covid year of FY21. It’s estimated to touch 55.4% of GDP, or Rs 164.44 lakh crore, in FY24. In absolute terms, the external debt will touch Rs 7.93 lakh crore in FY24, according to the revised estimate.
