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| Category | Information |
|---|---|
| India's Debt | $1,798,977.4 M |
| New Bonds (Debt) Issued | $58,828.68 M |
| Total Government Debt | $1,857,806.08 M |
| Debt to GDP % | 56.84% |
| Credit Rating | B |
| Interest Paid on Debt | 5% |
| Spending Categories | % of Budget | % of GDP | Actual Expenditure | Nominal Expenditure |
|---|---|---|---|---|
| Defense | 14.% | 1.85% | $60,406.60 M | $68,633.46 M |
| Agriculture | 11.15% | 1.47% | $48,109.54 M | $54,661.65 M |
| Commerce and Industry | 3.36% | 0.44% | $14,497.58 M | $16,472.03 M |
| Culture and Tourism | 0.25% | 0.03% | $1,078.69 M | $1,225.60 M |
| Education | 2.64% | 0.35% | $11,390.96 M | $12,942.31 M |
| Energy | 1.07% | 0.14% | $4,616.79 M | $5,245.56 M |
| Environment | 2.11% | 0.28% | $9,104.14 M | $10,344.04 M |
| General Government | 11.60% | 1.53% | $50,051.18 M | $56,867.72 M |
| Healthcare | 2.21% | 0.29% | $9,535.61 M | $10,834.28 M |
| Infrastructure & Transportation | 12.00% | 1.58% | $51,777.08 M | $58,828.68 M |
| Law Enforcement | 4.88% | 0.64% | $21,056.01 M | $23,923.66 M |
| Research, Science, & Technology | 1.33% | 0.18% | $5,738.63 M | $6,520.18 M |
| Social Welfare | 1.53% | 0.20% | $6,601.58 M | $7,500.66 M |
| Transfers to States | 8.29% | 1.09% | $35,769.33 M | $40,640.81 M |
| SagarMala | 2.05% | 0.27% | $8,845.25 M | $10,049.90 M |
| Interest Payments | 21.53% | 2.84% | $92,890.3 M | $105,541.17 M |
| Total Percent of Budget Allocated: | 100% | 13.2% | $431,469.27 M | $490,239. M |
On the back on strong economic growth in 2021 the government unveiled the 2022 Union Budget of India today. Here are the key highlights:
Significant reduction of the deficit to 1.8% of GDP from 6.8% the previous year
A further $10 billion dollar injection into the SagarMala port development program on top of planned infrastructure spending
Over $400 million dedicated to the Ministry of Law and Justice for the purpose of raising wages and filling vacancies. The previously announced plan has been expanded to fill not just five thousand district judges, but also six thousand new prosecutors, as well as the needed support staff all with increased wages. The money is also sufficient to cover other necessary expenditures to support the expansion of the judicial system.
Source for high procurement percentage: https://www.defensenews.com/global/asia-pacific/2021/02/02/india-releases-details-of-new-defense-budget/#:~:text=Excluding pensions, the new defense,the previous year's $15.91 billion.
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