Net incurrence of liabilities, total (% of GDP) in India
India: Net incurrence of liabilities, total (% of GDP) was 6.7% in 2022. ▼ Falling
Net incurrence of liabilities, total in India, 1974–2022
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
In 2022, net incurrence of liabilities, total in India stood at 6.7%.
That represents a change of up 38.2% over ten years.
Over the whole period, net incurrence of liabilities, total in India peaked at 8.7% in 1986 and was at its lowest, 2.3%, in 2007.
That places India 22nd out of 136 countries with data for 2022, putting it in the top quarter.
The long-run direction has been consistently falling across the 46 years of available data.
Net incurrence of liabilities, total (% of GDP) in India, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1974 | 3.0% | — |
| 1975 | 4.3% | +41.7% |
| 1976 | 3.5% | -18.8% |
| 1977 | 6.0% | +70.5% |
| 1978 | 2.3% | -61.9% |
| 1979 | 5.3% | +131.4% |
| 1980 | 6.1% | +16.8% |
| 1981 | 4.8% | -22.2% |
| 1982 | 7.5% | +56.8% |
| 1983 | 4.4% | -41.7% |
| 1984 | 7.0% | +59.0% |
| 1985 | 7.8% | +12.5% |
| 1986 | 8.7% | +11.6% |
| 1987 | 7.7% | -12.3% |
| 1988 | 7.6% | -0.7% |
| 1989 | 7.3% | -3.6% |
| 1990 | 7.6% | +3.8% |
| 1991 | 5.4% | -28.9% |
| 1992 | 5.2% | -4.5% |
| 1993 | 7.0% | +35.8% |
| 1994 | 5.4% | -23.1% |
| 1995 | 5.1% | -5.6% |
| 1996 | 4.8% | -6.7% |
| 1997 | 4.9% | +2.1% |
| 1998 | 5.2% | +6.8% |
| 1999 | 5.3% | +2.1% |
| 2000 | 5.4% | +1.2% |
| 2001 | 6.0% | +11.6% |
| 2002 | 5.1% | -15.4% |
| 2003 | 2.9% | -43.2% |
| 2004 | 5.1% | +78.0% |
| 2005 | 4.3% | -16.6% |
| 2006 | 2.4% | -43.6% |
| 2007 | 2.3% | -6.0% |
| 2008 | 4.6% | +104.2% |
| 2009 | 6.2% | +34.3% |
| 2010 | 4.4% | -28.9% |
| 2011 | 5.7% | +28.3% |
| 2012 | 4.9% | -13.8% |
| 2013 | 4.7% | -4.2% |
| 2014 | 3.9% | -17.7% |
| 2015 | 3.7% | -3.4% |
| 2016 | 3.2% | -14.3% |
| 2017 | 3.4% | +7.5% |
| 2018 | 3.0% | -11.4% |
| 2022 | 6.7% | +122.3% |
India compared with similar countries
- India's 6.7% is above the median for lower middle income countries, which is 2.9%, 2.3× the median. (34 countries reporting)
- India's 6.7% is below the median for South Asia, which is 6.9%, 98% of the median. (6 countries reporting)
Biggest year-on-year movements
Years where Net incurrence of liabilities, total (% of GDP) in India changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1979 | +131.4% | 2.3% | 5.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 4.1% | 2.3% | 6.0% | 6 |
| 1980s | 6.9% | 4.4% | 8.7% | 10 |
| 1990s | 5.6% | 4.8% | 7.6% | 10 |
| 2000s | 4.4% | 2.3% | 6.2% | 10 |
| 2010s | 4.1% | 3.0% | 5.7% | 9 |
| 2020s | 6.7% | 6.7% | 6.7% | 1 |
Countries ranked near India
- 19 United States 7.1% compare
- 20 United Kingdom 7.0% compare
- 21 Nepal 7.0% compare
- 23 North Macedonia 6.6% compare
- 24 Rwanda 6.6% compare
- 25 Bhutan 6.4% compare
More public sector data for India
- Democracy, annual growth rate 0 % change on previous year (2025)
- Chief executive of the government is elected, annual growth rate 0 % change on previous year (2025)
- Elected parliament, annual growth rate 0 % change on previous year (2025)
- Men's universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote in practice, annual growth rate 0 % change on previous year (2025)
- Arms imports 2.86 billion SIPRI trend indicator values (2025)
- Arms imports (SIPRI trend indicator values), per capita 0.805 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0003 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate -21.66 % change on previous year (2024)
Frequently asked questions
- What is net incurrence of liabilities, total in India?
- Net incurrence of liabilities, total in India was 6.7% in 2022, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest net incurrence of liabilities, total recorded in India?
- The highest recorded value was 8.7% in 1986.
- What is the lowest net incurrence of liabilities, total recorded in India?
- The lowest recorded value was 2.3% in 2007.
- How does India rank for net incurrence of liabilities, total?
- India ranks 22nd out of 136 countries with data for 2022.
- Is net incurrence of liabilities, total rising or falling in India?
- Over the last ten years it is up 38.2%. The long-run trend across the full record is falling.
- Where does this India data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Net incurrence of liabilities, total (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Net incurrence of government liabilities includes foreign financing (obtained from nonresidents) and domestic financing (obtained from residents), or the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. The net incurrence of liabilities should be offset by the net acquisition of financial assets. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.