Budget Burden: India’s Interest and Debt Servicing Spend Reaches Staggering 23.8%

The government is going to spend almost one quarter of its Budget allocations on interest and debt servicing according to the budget proposals. According to the Expenditure Bill out of the Rs 39.44 lakh crore expenditure, the proposals contain Rs 9.40lakh crore for servicing the interest on borrowings. This is more than 23% of the entire expenditure the finance ministry has estimated for the year 2022-23.


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