Archive · 18 Sep 2025
Fact-Check: Controversy over Modi Govt's Foreign Borrowing Claims
A politician, Saket Gokhale, said the Indian government took out a lot of loans from other countries.
He said this was around ₹8 lakh crore in seven years.
He also said that India is paying a lot of interest on these loans.
Others say that he didn't tell the whole story and the loans weren't just taken by the Central government.
This story is about who took out loans and how much it's costing.
TMC MP Saket Gokhale claimed the Modi government borrowed ₹8 lakh crore from foreign banks in 7 years.
Gokhale cited data from a Ministry of Finance response in the Rajya Sabha.
The article points out that the loans were not only taken by the Central government but also by several state governments.
Gokhale has been previously accused of spreading misinformation in other claims.
The article highlights outstanding debt of West Bengal's TMC government as context.
- Who
- Saket Gokhale, TMC MP, and the Modi government.
- What
- Claims and counter-claims about the amount of foreign borrowing by the Indian government.
- When
- The claim is based on data from 2018 onwards, and Gokhale made the claim on September 17th, 2025.
- Where
- India, involving loans from international banks.
- Why
- Political accusations and fact-checking regarding government financial practices.
- Main Claim
- Modi government borrowed ₹8 lakh crore from foreign banks in 7 years, as alleged by TMC MP Saket Gokhale.
- Loan Amount Claimed
- $91 billion (₹8,035,300 crore).
- Timeframe
- 7 years, from 2018
- Source
- Reply by Minister of Finance's Department of Economic Affairs to Rajya Sabha in December 2023
- Interest Paid
- ₹45,000 crore annually.