India spends a third of its revenue just servicing its debt — the most among major economies.
| Country | Interest-to-revenue | Debt-to-GDP |
|---|---|---|
| India | ~37% | ~84% |
| United States | ~19% | ~124% |
| United Kingdom | ~13% | ~102% |
| Japan | ~13.5% | ~207% |
| Germany | ~3–4% | ~63% |
Interest-to-revenue = the share of what the government collects that goes straight to interest.
The reading — and its limits
The two columns don't line up — and that's the point. Japan owes far more relative to its economy (~207%) yet pays a smaller share of revenue in interest than India does on ~84% debt. The reason is the rate at which the debt was raised: India borrows at much higher rates, so a given amount of debt costs far more to service each year. The burden is set by the rate, not just the size of the debt.
Method Interest-to-revenue from each country's own treasury/budget primary (India = Union Budget interest payments / revenue receipts). Debt-to-GDP from the IMF (general government gross debt, 2025).
Computed 22 June 2026