Category: Economy

India’s public debt is rising steadily. While borrowing has helped finance infrastructure, welfare programs, and economic development, it also raises an important question that every country must eventually answer: Who will repay today’s debt? Every newborn taxpayer in India inherits a larger share of government debt than their generation before them. In 1990, government debt…

Public debt is not inherently a problem. In fact, every modern economy borrows. Governments issue debt to finance highways, railways, schools, hospitals, defense, and other investments that would be difficult to fund through annual tax revenues alone. When used wisely, borrowing allows a nation to accelerate development and improve the quality of life for its…