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India’s GDP stands at $2.55 trillion and its national debt is 78% of its GDP. It is next to the danger mark as per this picture. This is a very nice map of the national debt of several countries.
In spite of the global meltdown and the recession USA’s national debt is only 60% of its GDP. US is a $8.68 trillion dollar economy. Of the countries mentioned in the map, Japan, Italy and Zimbabwe has a greater percentage of national debt than India. The countries in the black have the lowest national debt. China as always did not have any debt which could mean two things. Either the data is not available or it national debt is lower than 6% of its GDP.
An excellent reference point. Found this via VisualEconomics.
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Recently I read that Indians have $1.456 trillion in Swiss Banks (all illegal money). Get it back and pay off the debt. Can't we wish?
Not so simple anonymous - look at why the money flowed to the swiss bank in the forst place as you allege. Seems to me there is dis trust of the power structure - why would someone squirrel things away (all over the world incidentally). I beleive mankind always will try to evade any system that does not get his/her confidence and preserve purrchasing power and/or over tax the earnings. Stop this & your structural problems stop.
I read on another website that China's national debt equals 18.4% of it's GDP. Although now I've read this I have no idea what to believe.
Indians debt is about 80 pct of its GDP and still we are safe becasue India govt owes to its own people unlike Greece or Icelan or any other country. India govt have full control in their debt. American debt is more than 150 pct of their GDP. There is no problem them because they hold their debt in USD. Govt can print USD and wash off their hand off or devalue the dollar. . UKs external debt is 300 pct now.Get your facts right dude. Dont bring down Indias PR image by projecting our coutry as a failed state. It has its own massive economy which consumes everythign it produces unlike chinesse wherer they have to look for other countries to sell their produts. India will be the super power of the future. No doubt. The British looters will sk for Indian help in future. I'm waiting for that day for lungi dance. |
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