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India's external debt rises by 3.5% by December-end

By TIOL News Service

NEW DELHI, MAR 31, 2015: INDIA's External Debt at December-end stood at USD 461.9 Billion, reflecting an increase of USD 15.5 Billion (3.5 per cent) over the level at end-March 2014. External Debt to GDP ratio stood at 23.2 per cent at end-December 2014 vis-à-vis 23.7 per cent at March-end 2014.
 
The rise in external debt during the period was due to an increase in long-term debt such as commercial borrowings and NRI deposits. Short-term external debt, however witnessed a decline during the period.
 
Department of Economic Affairs, Ministry of Finance, Government of India has been compiling and releasing quarterly statistics on India’s External Debt for the quarters ending September and December every year. This press release relates to India’s external debt at December-end 2014.
 
Long-term debt at December-end 2014 was USD 376.4 billion, reflecting an increase of 6.1 per cent over the level at end-March 2014. Long-term debt accounted for 81.5 per cent of total external debt at end-December 2014 vis-à-vis 79.5 per cent at end-March 2014.
 
Short-term external debt was USD 85.6 billion at end-December 2014, showing a decline of 6.7 per cent over the level at end-March 2014. Short-term debt accounted for 18.5 per cent of total external debt at end-December 2014 as against 20.5 per cent at end-March 2014.
 
The shares of Government (Sovereign) and non-Government debt in the total external debt were 19.5 per cent and 80.5 per cent respectively, at end-December 2014.
 
The share of US Dollar denominated debt was the highest in the external debt stock and stood at 58.7 per cent at end-December 2014, followed by debt denominated in Indian rupee (26.4 per cent), SDR (6.3 per cent), Japanese yen (4.1 per cent) and euro (2.9 per cent).
          


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