“Debt sustainability, as measured by the debt sustainability indicator, was optimistic in 2022-23, which is a optimistic indicator in the direction of stability,” the CAG stated in a launch.
The assertion comes after the supreme audit establishment offered its report on the Centre's compliance of the Fiscal Duty and Price range Administration Act, 2003, in FY23 within the Lok Sabha on Monday.
The Centre's debt-to-GDP ratio elevated from 49.34% in FY19 to a peak of 61.38% in FY21, it stated, due to a pandemic-induced spike in borrowing and contraction in financial output. Nonetheless, the ratio eased to 57.93% of GDP in FY23 from 58.76% in FY22.
“Public debt compensation to public debt receipts was 89.75% in FY19 however improved in FY23, and debt repaid was 81.22% of debt acquired in the course of the 12 months, releasing up borrowings for productive expenditure,” the CAG stated within the assertion.
The ratio of curiosity funds to income receipts reached its peak at 38.66% in FY21; it dropped to 33.99% in FY22 and once more inched as much as 35.35% in FY23.In a separate report on the railway ministry, the CAG flagged instances of undercharges or overpayments of ₹543.17 crore. The report was offered within the Lok Sabha on Monday.
