The average debt of every Indian has been estimated to soar to about Rs. 30,000 in about a year with the government Competitive economies stepping up its 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. With the government adding about Rs 3,00,000 crore (Rs 3000 billion) 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 (Rs 34.06 trillion) by March 2010, nearly double the amount recorded seven years ago.
Part of the increase in borrowings can be attributed to the stimulus packages raising expenditure and reducing revenues through slashing duties. The external debt, which comprises funds raised from multilateral and bilateral lending agencies, is expected to be about Rs 1.38 lakh crore by the end of March 2010, while the other liabilities will account for the remaining Rs 10 lakh crore.
https://www.rediff.com/money/2009/feb/17bud-every-indian-to-have-debt.htm
Shabash UPA! Well done!! Where is all this money?Any Guess?
