India's total public and external debt has increased substantially during the tenure of Prime Minister Narendra Modi, sparking a major political debate between opposition parties and the government.

India's total public and external debt has increased substantially during the tenure of Prime Minister Narendra Modi, sparking a major political debate between opposition parties and the government. 
Key Data and Growth Figures
Total Government Debt: -
Opposition leaders and critics including figures from the Indian National Congress and state ministers state that India's total public/central government debt rose from roughly ₹51–55 lakh crore in 2014 to over ₹201–225 lakh crore (with some estimates crossing ₹250–270 lakh crore by 2026). 
Debt-to-GDP Ratio: -
Official and institutional data place India's general government debt-to-GDP ratio at approximately 57% to 81% depending on the inclusion of combined state and central liabilities, compared to lower historical levels. 
External Debt: -
According to data from the Reserve Bank of India, India's total external debt reached US$ 762.8 billion by March 2026, marking an increase of US$ 26.3 billion over the previous year, though external debt-to-GDP ratios remain relatively moderate at around 20.8%. 
Per Capita Burden: -
Critics from opposition parties claim that the average debt burden per person in India has more than doubled, climbing from roughly ₹43,000 in 2014 to over ₹1,09,000+ in recent years. 
Opposition Viewpoint:-
 Leaders like Telangana Chief Minister A. Revanth Reddy and Congress ministers argue that the Modi regime has accumulated a disproportionate share of the nation's historical debt—asserting that the bulk of India's current debt was piled on over the last 12 years to fund spending, which they claim places a heavy burden on the middle class and fiscal stability. 
Government and Economic Context:- Supporters and government analyses often counter that nominal debt increases are natural in a rapidly expanding, multi-trillion-dollar economy undergoing major infrastructure investments, digital expansion, and welfare spending (especially shocks managed during and after the COVID-19 pandemic), pointing out that growth rates and asset creation have scaled alongside liabilities. 

MJF Ln ER YK Sharma 

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