(a) whether the per capita debt burden is on the rise in the country;
(b) if so, the details thereof and the reaction of the Government in this regard; and
(c) the details of the per capita debt burden in the country at present in comparison to the per capita debt burden during the year 2009 along with the interest paid thereon?
Position No.16
Statement referred to in reply to Lok Sabha Starred Question No. +*436 for answer on December 16, 2016 raised by SHRI LAXMI NARAYAN YADAV AND SHRI RAM TAHAL CHOUDHARY regarding PER CAPITA DEBT
As per Finance Accounts and data on population, per capita debt calculated on the basis of Union Government Debt as on 31st March 2016 was ` 53,796 as against
` 49,270 as on 31st March 2015.
The per capita debt has increased primarily on account of developmental expenditure to achieve higher growth. The per capita debt burden of Union Government inter-alia includes external debt, internal debt and other liabilities as per Finance Accounts of the Union Government, the per capita debt during 2009-10 and from 2013-14 to 2015-16 is as under:
Table: Details of per capita debt and Interest Paid on Debt
Year Per capita Debt (Rs.) Interest paid on Debt
(Rs. in crore)
2009-10 30,171 213,093
2013-14 45,319 374,254
2014-15 49,270 402,444
2015-16 53,796 441,659
The Central Government has been following a comprehensive strategy to moderate growth in public debt through a policy of fiscal rectitude including, inter alia, recourse to lower cost borrowings, phased introduction of active consolidation of debt, emphasis on raising funds on concessional terms and from less expensive sources with longer maturities, monitoring short term debt and encouraging non-debt creating capital flows. The reduction in Fiscal deficit from 3.9 per cent of GDP in RE 2015-16 to 3.5 per cent of GDP in BE 2016-17 is designed with a mix of reduction in total expenditure as percentage of GDP and improvement in gross tax revenue as percentage of GDP. With reprioritization of expenditure towards developmental side and curtailing the growth in non-development expenditure, total expenditure is estimated to decline as percentage of GDP.
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