The Union government on November 30 informed the Parliament that it expects the total debt as a percentage of GDP to increase to 62 percent in 2021-22.
Out of this, public debt as percentage of GDP is estimated at 54 percent in the current financial year.
In a written reply in the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary said that the fiscal deficit is estimated at 6.8 percent of GDP in the current financial year.
During the monsoon session of the Parliament earlier this year, government had said that it expects the total debt as a percentage of GDP to increase to 61.7 percent and public debt to rise to 54.2 percent in FY22 from 52 percent in 2020-21.In another response to a question on the measures undertaken to curb the fiscal deficit, Chaudhary said, "Increasing the buoyancy of tax revenue through improved compliance, mobilisation of resources through monetisation of assets, improving efficiency and effectiveness of public expenditure etc. are some of the important measures initiated by the Government to control the fiscal deficit."