India's External Debt Expands By 8.2% To $620.7 Billion

Gujarat News, Gujarati News, Latest Gujarati News, Gujarat Breaking News, Gujarat Samachar.

Latest Gujarati News, Breaking News in Gujarati, Gujarat Samachar, ગુજરાતી સમાચાર, Gujarati News Live, Gujarati News Channel, Gujarati News Today, National Gujarati News, International Gujarati News, Sports Gujarati News, Exclusive Gujarati News, Coronavirus Gujarati News, Entertainment Gujarati News, Business Gujarati News, Technology Gujarati News, Automobile Gujarati News, Elections 2022 Gujarati News, Viral Social News in Gujarati, Indian Politics News in Gujarati, Gujarati News Headlines, World News In Gujarati, Cricket News In Gujarati

India’s External Debt Expands By 8.2% To $620.7 Billion Till March 2022

| Updated: September 6, 2022 13:30

India’s external debt escalated by 8.2% to $620.7 billion in March 2022 compared to 2021, per the Union Ministry of Finance. According to the reports, 53.2% of India’s external debt is in the form of US dollars. However, the debt payable in Indian currency is 31.2%.

Ministry of Finance said, “India’s external debt remains restricted in an ever-increasing manner. At the end of March 2022, the external debt stood at $620.7 billion, an 8.2% hike from a year ago. The external debt as gross domestic product (GDP) ratio was 19.9%. Further, the foreign exchange reserve to external debt ratio was 97.8%.”

Read More: State BJP’s Top Brass Plan Damage Control To Take Stock Of Situation Ahead Of Elections

Moreover, the Ministry of Finance data shows that India’s long-term debt is $499.1 billion, 80.4% of total debt. On the other hand, the share of short-term debt is $121.7 billion is 19.6%. Sovereign debt grew by 17.1% to $130.7 billion, while non-sovereign debt grew by 6.1% to $490 billion. The NRI deposits declined by 2% to $139 billion. Further, the commercial credit grew by 5.7% to $209.71 billion, and short-term credit rose b 20.5% to $117.4 billion.

Read More: Demat Accounts Cross 100 Million Mark For First Time In India

Your email address will not be published. Required fields are marked *