India won't face situation like Sri Lanka or Pakistan, But..?
For the time being, there would be no such economic crisis in India. Because, regardless of whether it was the previous manmohan singh administration, the Atal Bihari Vajpayee-led bjp administration, or the prior narasimha Rao administration. They didn't take out any loans from other countries. In 1994-95, we also paid off our existing foreign debt. indian corporations have borrowed abroad in recent years, but the indian government has not. We owe it to all prior leaders to thank them for not establishing the circumstances for foreign debt in the current situation. There is no discrimination based on political party in this.
State governments frequently borrow from international financial institutions. The loan will be repaid in rupees. The World bank has also borrowed rupee bonds from the indian market. india has previously borrowed money from other countries in the form of bonds. Never received in the form of foreign currency. The international Monetary Fund has given us a loan (IMF). The world was in a recession in 2008. manmohan singh, the then-Prime minister of india, was given gold by the international Monetary Fund and had to pay for it. His economic decision in 2009 was also a crucial influence in India's debt relief.