Global debt jumps to a new high of $226 trillion; India debt jumps to 89.6% in 2020: IMF In its 2021 Fiscal Monitor report, the IMF said India#39;s debt increased from 68.9 percent of its GDP in 2016 to 89.6 percent in 2020. It is projected to jump to 90.6 percent in 2021 and then decline to 88.8 percent in 2022, to gradually reach 85.2 percent in 2026.