Every Indian to have debt of Rs 30K by March 2010

Viewed from an angle,the average debt of every Indian has been estimated to soar to about Rs 30,000 in about a year...

Written by Press Trust Of India | New Delhi | Published: February 18, 2009 12:23:40 am

Viewed from an angle,the average debt of every Indian has been estimated to soar to about Rs 30,000 in about a year with the government stepping up it borrowing programme in the next fiscal to fund public expenditure and stimulate the economy.

The average debt of a citizen would nearly be equal to his 10-month income,which on an annual basis has recently been estimated at Rs 38,000 by the Central Statistical Organisation (CSO) for a population of 115.4 crore.

With the government adding about Rs 3,00,000 crore to the public debt annually in the last few years,the total public debt is estimated to zoom to a whooping Rs 34,06,322 crore by March 2010,nearly double the amount recorded seven years ago.

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