No.
Particulars
Public Debt
Private Debt
1
Burden of debt
Burden of public debt is not imposed directly on Government. Government collects it from the public of the country
Burden of individual debt is directly imposed on individual
2
Borrow money
Government can borrow from the citizens forcefully
Individual can borrow if the lender wishes to lend him/her
3
Benefit
Public will get benefit if they lend money to Government
Lender will not get any benefit from borrower if he/she lends money to any individual
4
Issue of note
If necessary, Government can issue notes to pay debt
There is no scope to issue note in case of individual
5
Payment of debt
Generally. Government imposes tax on public to pay debt
Individual has to pay debt from his/her income
6
Types of debt
Government can borrow from both internal and external sources
Individual can only borrow from external source
7
Irredeemable debt
Government can borrow money on irredeemable basis
Individual has to borrow money on redeemable basis
8
Interest rate on debt
Interest rate on debt is less in case of public debt
Interest rate on debt is more in case of individual debt
Judiesiz answered the question on August 22, 2018 at 04:50
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