It is the misfortune of the country that governments are running on debt : Laxmi Sinha

Bihar (Patna) social worker Mrs. Laxmi Sinha said that India remains the fastest growing economy in the world, but along with it the debt burden is also increasing. According to the recent report of the International Monetary Fund, the total debt of the country increased to 2.47 lakh crore dollars i.e. Rs 205 lakh crore in the July-September quarter of the current financial year, in which the share of the Center is Rs 161 lakh crore and that of the states is Rs 44 lakh crore. Are. According to this, every Indian has a debt of Rs 1 lakh 40 thousand. In the year 2014, the total debt of the Central Government, both domestic and foreign, was Rs 55 lakh crore. If seen in this manner, the debt of the Government of India has increased significantly in the last 9 years. The report also gives details of the fiscal deficit, which currently stands at Rs 9.25 lakh crore and is 4.51 percent of the total debt.

Mrs. Laxmi Sinha further said that in reality the income and expenditure of the government determine the debt. If the expenditure exceeds the income then the government will have to take loan. The government does not get any return on the expenditure incurred by borrowing on subsidies and various Revadi schemes. The burden of so much debt being taken by the governments to distribute Rewari is not only on us, but the coming generations will also have to repay it. A part of the budget is being spent on the interest on these loans. It is unfortunate for the country that governments are running on debt. Various Revadi schemes are being given priority over increasing production and employment in the economy. If employment and production do not increase and income inequality does not reduce, then loans will have to be taken. The irony is that even after five decades of the country becoming self-sufficient in food grains, two-thirds of the country’s population is dependent on the free food grains provided by the government. Governments have to understand that economically backward people are a burden on a nation, while self-reliant citizens are an asset for it. The amount of free schemes needs to be spent on creating employment opportunities, enhancing skills and developing infrastructure. Only then will there be social upliftment and progress of the people and the country will become self-reliant.