General Government deficit of India rules at a very elevated level amongst the G-20 countries. States market borrowings have increased: A consequence of large expenditures and deficits is an increase in market borrowings reflecting rising trend in fiscal imbalance at States level and increase in outstanding liabilities.
I cannot think of anything that symbolises this more eloquently than the plain simple fact that our currency - like its more famous cousin issued by your institution - also goes under the name of “Rupee”. But then a central banker would say that, wouldn’t he?