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GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF ECONOMIC AFFAIRS
RAJYA SABHA
UNSTARRED QUESTION NO. 1172
TO BE ANSWERED ON TUESDAY, THE 10th FEBRUARY, 2026
MAGHA 21, 1947 (SAKA)
National Debt
1172. Shri Randeep Singh Surjewala:
Will the Minister of FINANCE be pleased to state:
(a) the year-wise total outstanding debt of the Union Government for the last five years i.e.,
2020-21 to 2024-25;
(b) the details of internal and external debt components, year-wise during the same period;
(c) the ratio of the total Union Government debt to GDP in each of these years; and
(d) the steps taken by Government to reduce the overall debt burden?
ANSWER
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE
(SHRI PANKAJ CHAUDHARY)
(a), (b) & (c): The details of the Union Government debt, component-wise, and debt to GDP
ratio as on 31st March of last five financial years are as under:
Central Government’s debt (₹ lakh crore)
Financial Year
2020-21 2021-22 2022-23 2023-24 2024-25
115.71 132.08 148.64 163.74 177.21
Internal Debt
6.15 6.58 7.48 7.96 8.74
External Debt
121.86 138.66 156.12 171.70 185.95
Total
Union Government 61.4 58.8 58.1 57.0 56.2
debt to GDP ratio
Note: External Debt is at current exchange rate. Internal Debt includes public account liabilities and
other liabilities (EBR), etc. of the Central Government.
(d): The focus of the government has been on capital expenditure. The share of capital
expenditure in total expenditure increased from 12.1% in 2020-21 to 22.6% in 2024-25. This
focus helps improve the GDP growth rate, reduce the debt-GDP ratio and mitigate the debt
burden.