India had the second highest debt, after Brazil, in the Emerging Market and Middle-Income Economies category. But the figure is projected to steadily go down here on, from 68.9 per cent this year to 61.4 per cent by 2023.

\"People know that when they say something, the Government will listen and do it. Days of incremental change are over,\" Prime Minister Modi said while speaking at the 'Bharat Ki Baat, Sabke Saath' programme at the iconic Central Hall Westminster in London.

At a time when the country is scrambling with cash crunch in several states across the country, BusinessToday.In finds out the real reasons which could be attributed to this cash shortage. The sudden and unexpected demand for cash has put the government and the Reserve Bank of India (RBI) on the back foot. Though efforts are on to pump in adequate money into the circulation, it's unclear when the situation will normalise.

The parliamentary panel scrutinising the expenditure plans of the Department of Food and Public Distribution in the Union Budget 2018/19 made an interesting observation.

An SBI report has said that India's currency shortfall may be Rs 70,000 crore, which is nearly three times the government's estimate.

A recent RBI provisional figure report says the total outstanding money deposited in the country's banks by March 30 stood at Rs 114.75-lakh crore compared to Rs 107.58 lakh crore a year earlier, which is lowest in the past 54 years.

While there are many speculations for this shortage, the government and the Reserve Bank have said it's a temporary disruption and normalcy will return within three days. Also, the RBI is ready to go in for a five-fold increase in the printing of Rs 500 notes to deal with cash shortages.