Global Debt Clock is ticking

Debt is a major problem afflicting almost all major economies. It arises when a country's government runs up expenditure which is greater than its revenues; the difference is called deficit. 

To fund this deficit, the country has to borrow, either from internal sources or from external bodies (like foreign banks). This borrowing is called debt. 

(Read The Explainer: The eurozone Debt Crisis)

So, what is the size of total debt of different nations, especially India? The Economist has an interactive graphic on government debt.