Debt Surge Sparks 'Karznirbhar Bharat' Jibe by Congress MP

In a stinging critique, Congress MP Randeep Singh Surjewala highlighted a staggering increase in Union Government debt, from approximately Rs 58.6 lakh crore in 2014 to a projected Rs 185.95 lakh crore by 2024-25. This represents an over Rs 127 lakh crore rise, prompting Surjewala to dub the situation 'Karznirbhar Bharat'.

Addressing the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary confirmed the figures, detailing both internal and external debt levels. The Congressman used this disclosure to spotlight what he views as a financial 'explosion' under a 'double engine due' regime, despite an improvement in the Debt-to-GDP ratio.

Surjewala's social media outburst further accused the government of changing the formula to showcase an unjustified economic ‘masterstroke’. While the Debt-to-GDP ratio noted a decrease, the Economic Survey aims for a 50% ratio target, highlighting a composition that has kept borrowing costs in check through favorable macro-financial conditions.