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India External Debt: Foreign debt on India increased, by 8.2 percent to $ 620.7 billion by March 2022

India External Debt: India’s external debt grew by 8.2 per cent to $620.7 billion at the end of March 2022 from a year earlier. According to the data released by the Finance Ministry on Friday, 53.2 percent of the country’s external debt is in the form of US dollars while the debt payable in the form of Indian rupees is 31.2 percent.

Finance Ministry released data
The Finance Ministry said, “India’s external debt continues to be well-managed. Its size stood at $620.7 billion at the end of March 2022, an increase of 8.2 percent from a year ago. Gross Domestic Product (GDP) The external debt as a ratio was 19.9 per cent. The ratio of foreign exchange reserves and external debt was 97.8 per cent.

External Debt Figure
However, the foreign exchange reserves as a ratio of external debt at 97.8 per cent shows a decline as compared to 100.6 per cent a year ago. The Finance Ministry’s report says that the country’s long-term debt is $ 499.1 billion, which is 80.4 percent of the total external debt, while the share of short-term debt with $ 121.7 billion is 19.6 percent. Sovereign debt grew 17.1 percent to $130.7 billion compared to a year ago, while non-sovereign debt grew 6.1 percent to $490.0 billion.

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According to the report, NRI deposits declined by two per cent to $139.0 billion, while commercial borrowings rose 5.7 per cent to $209.71 billion and short-term trade credit increased by 20.5 per cent to $117.4 billion.

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