| Date: |
29-03-2013 |
| Subject: |
India's external debt put at $376.3 billion at end-December 2012 |
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India's total external debt stock stood at $ 376.3 billion at the end of December 2012, up $ 30.8 billion (8.9 per cent) over the level of $ 345.5 billion at the end of March 2012, according to the latest quaterly statistics released by the Department of Economic Affairs.
The rise in external debt during the period was due to both long-term as well as short-term components, an official press release said.
The increase in long-term debt was mainly on account of non-resident Indian (NRI) deposits and commercial borrowings, while short-term debt stood higher on account of trade related credits, it said.
The Department of Economic Affairs in the Ministry of Finance has been compiling and releasing quarterly statistics on India's External Debt for the quarters ending September and December every year.
According to the latest figures, India's long-term debt stood at $ 284.4 billion at end-December 2012, recording an increase of $ 17.1 billion (6.4 per cent) over the end-March 2012 level, while short-term debt increased by $ 13.7 billion (17.5 per cent) to $ 91.9 billion.
Short-term debt accounted for 24.4 per cent of India’s total external debt, while the remaining (75.6 per cent) was long-term debt. Within long-term, components such as commercial borrowings accounted for 30.0 per cent of the total external debt, followed by NRI deposits (18.0 per cent) and multilateral debt (13.7 per cent).
Government (sovereign) external debt stood at $ 81.7 billion, (21.7 per cent of total external debt) at end-December 2012 as against $ 81.9 billion (23.7 per cent) at end-March 2012.
The share of US dollar denominated debt was the highest in external debt stock and stood at 56.8 per cent at end-December 2012, followed by debt denominated in terms of the Indian rupee (23.1 per cent), SDR (7.9 per cent), Japanese yen (7.6 per cent) and euro (3.2 per cent).
India’s external debt to GDP ratio stood at 20.6 per cent at end-December 2012 vis-à-vis 19.7 per cent at end-March 2012.
Source : netindian.in
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