National Debt (% of GDP): India
Current Value (2018)
46.5%
All-Time Peak (2004)
62.6%
All-Time Low (1996)
45.7%
National Debt (% of GDP) — India
Analysis# India's National Debt Analysis (1990–2018)
India's debt-to-GDP ratio peaked at 62.59% in 2004 during the post-liberalization fiscal consolidation period, then declined steadily to 46.52% by 2018, demonstrating sustained fiscal discipline over 14 years. The ratio remained relatively stable around its 1996 low of 45.72% throughout the 2010s, suggesting the economy's growth rate outpaced debt accumulation after 2004. This structural improvement reflects both revenue growth from economic expansion and expenditure management, though the 46.5% level remains elevated compared to pre-1990s baselines, indicating
Historical Data
| Year | Value | Change % |
|---|---|---|
| 2018 | 46.5% | -2.23% |
| 2017 | 47.6% | -0.11% |
| 2016 | 47.6% | -4.67% |
| 2015 | 50.0% | +0.13% |
| 2014 | 49.9% | -0.82% |
| 2013 | 50.3% | -0.72% |
| 2012 | 50.7% | -1.70% |
| 2011 | 51.6% | -0.07% |
| 2010 | 51.6% | -6.63% |
| 2009 | 55.3% | -3.55% |
| 2008 | 57.3% | -0.36% |
| 2007 | 57.5% | -3.64% |
| 2006 | 59.7% | -4.11% |
| 2005 | 62.2% | -0.59% |
| 2004 | 62.6% | +0.65% |
| 2003 | 62.2% | -0.58% |
| 2002 | 62.6% | +5.99% |
| 2001 | 59.0% | +7.30% |
| 2000 | 55.0% | +7.11% |
| 1999 | 51.4% | +2.05% |
Show all 29 rows
| Year | Value | Change % |
|---|---|---|
| 1998 | 50.3% | -0.09% |
| 1997 | 50.4% | +10.15% |
| 1996 | 45.7% | -3.72% |
| 1995 | 47.5% | -4.24% |
| 1994 | 49.6% | -4.18% |
| 1993 | 51.8% | +4.18% |
| 1992 | 49.7% | -0.66% |
| 1991 | 50.0% | -1.52% |
| 1990 | 50.8% | — |