The government has said that it is able to pay its debts
The Government’s debt is estimated to be around 62% of GDP for the current financial year and it is in a position to repay its debts, Parliament was informed on Tuesday.
minister, pastor of the NState because the NSinance Pankaj Chaudhary said this in a written reply to a question during Question Hour in the Rajya Sabha.
“Increase buoyancy of the tax collection through improved compliance, mobilizing of the resources through earning of the property, improve efficiency and effectiveness of the public spending, etc… are important measures initiated by the Government to control the fiscal deficit and debt burden,” he said in a reply in the Rajya Sabha.
Government debt is mainly held in local currency, he said, adding that the Center has the ability to repay the debt.
