India’s external debt stands $663.8 billion at end-March 2024, rise of $39.7 billion from year before
The Indian government’s 2024-2025 budget, presented in February 2024 by Union Finance Minister Nirmala Sitharaman, projects that the government will borrow ₹14.13 trillion ($170.36 billion) in the fiscal year starting April 1, 2024. This is lower than the ₹15.6 trillion estimated by economists. The government plans to borrow ₹7.50 trillion in the first half of the fiscal year through dated securities, including ₹12 billion through Sovereign Green Bonds (SGrBs). The government will hold weekly auctions to borrow different amounts for different lengths of time, from 3 to 40 years, between October and March. The Department of Expenditure, which is part of the Ministry of Finance, manages the government’s borrowing program, working with the Reserve Bank of India to finalize the amount the government will borrow.