India's debt to hit 150% of GDP by 2047 for Viksit Bharat goal

India's non-sovereign debt may reach 150% of GDP by 2047 to achieve the Viksit Bharat goal of a USD 30+ trillion economy.

A Crisil report states that the debt capital market must undergo major expansion to finance this growth.

The banking sector is constrained, necessitating alternative funding sources for the economic target.