CAG Report: India’s Debt Tripled in Last 10 Years

As the BJP celebrates Prime Minister Narendra Modi’s eleven years in power, the CAG has released a report that raises serious questions. It shows that India’s debt has grown massively during Modi’s rule.

In 2013-14, the debt of all states together was about ₹17.5 lakh crore. By 2022-23, it shot up to nearly ₹60 lakh crore. That means in just ten years, state borrowings have gone up more than three times. The share of debt in state economies has also risen from 16.6 percent to almost 23 percent.

Punjab is the worst hit, with debt at over 40 percent of its economy, followed by Nagaland and West Bengal. Odisha, however, kept its borrowings low at around 8 percent. Even strong states like Maharashtra and Gujarat have seen big jumps in debt.

The CAG also revealed that many states are borrowing not just for development, but even for their day-to-day expenses. Andhra Pradesh, Punjab, West Bengal, Kerala, Bihar and Tamil Nadu are among those relying on loans to run daily administration.

The report warns that this is against financial rules and paints a worrying picture. In short, during Modi’s ten years in power, India’s debt has piled up to alarming levels.