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Fiscal Stability Progress under the FRBM Act 2003
August 26 , 2025
15 hrs 0 min
23
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- The Comptroller and Auditor General (CAG)’s 2023–24 review of the Fiscal Responsibility and Budget Management (FRBM) Act 2003 shows India is progressing toward long-term macroeconomic stability.
- Central government debt declined to 57% of Gross Domestic Product (GDP) in March 2024, down from 61.38% in the financial year (FY) 2020–21.
- General Government Debt (GGD) dropped slightly from 83% of GDP in March 2022 to 81.3% in March 2023, still above the 60% target.
- Debt Sustainability Analysis (DSA) considers a stable or falling debt-to-GDP ratio as a sign of sustainable fiscal policy.
- Unrealised taxes stood at ₹31.11 lakh crore at the end of FY 2023–24, rising by ₹9.81 lakh crore from FY 2022–23.
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