India has largest Debt among BRIC Nations
The chart shows the debt to the GDP ratio of the BRIC nations for the current fiscal year.it is the amount of the national debt a country has a percentage of its debt payments ,Higher the ratio, higher is the
possibility that the country might default on its debt payments. As seen above,
India has the largest debt to GDP ratio among the BRIC nations. Indian economy which is already
under pressure of weak GDP, poor IIP and elevated inflation rate, is also
weighed down by its increasing government debt. High debt to GDP ratio tends to
dampen the credit worthiness of the Indian economy. Viewing its increasing
debt, Fitch had cut India's outlook to negative from stable in the last week. If the debt to GDP ratio
continues to accelerate further, Indian economy will be exposed to the risk of
further downgrades by other major rating agencies.
