The Centre's curiosity outgo, as proportion of its income receipts, elevated to 35.72% in 2023-24 from 35.35% in 2022-23 and 33.99% in 2021-22, in line with the CAG report on compliance of the Fiscal Duty and Funds Administration Act for 2023-24 offered in Parliament on Monday. The curiosity payment-to-revenue receipt ratio, an necessary indicator of the federal government's fiscal well being, had hit a report 38.66% in 2020-21, when useful resource mop-up was hit by the Covid-19 pandemic.
Nevertheless, the Centre's debt, as a proportion of GDP, moderated steadily from the pandemic peak of 61.38% in 2020-21 to 57% as of March 2024. The tempo of accumulation of central authorities debt between 2020-21 and 2023-24 was decrease than the GDP growth, the CAG mentioned within the report.
“Debt sustainability, as measured by the debt stabilization indicator, was optimistic in FY24 which is a optimistic indicator in direction of stability,” it added.
