🔆A World of Debt 2024: Key Insights for India 📍Global Debt Surge ✅Global public debt reached $97 trillion in 2023, nearly doubling since 2010. ✅Developing countries are allocating a significant portion(30%)of revenues to debt servicing, often exceeding spending on key services like health and education. 📍India’s Debt and Development Challenges ✅India’s total public debt is around $2.9 trillion (2023), with a debt-to-GDP ratio of 82.7%. ✅The increasing debt burden limits India’s capacity to invest in essential sectors like education, healthcare, and infrastructure. ✅Rising debt is linked to issues like modern slavery and forced labor, where vulnerable populations are exploited due to economic hardship.