​​​
  1. ECBs, NRI deposits push external debt to $475.8 bn

ECBs, NRI deposits push external debt to $475.8 bn

India's total external debt rose by USD 29.5 billion, or 6.6 per cent, to USD 475.8 billion during 2014-15 fiscal, mainly due to increase in external commercial borrowings and NRI deposits.

By: | Published: June 30, 2015 8:18 PM

India’s total external debt rose by USD 29.5 billion, or 6.6 per cent, to USD 475.8 billion during 2014-15 fiscal, mainly due to increase in external commercial borrowings and NRI deposits.

However, as percentage of the Gross Domestic Product (GDP), the country’s external debt works out to be 23.8 per cent at the end of March 2015, marginally up from 23.6 per cent as on March 2014.

“India’s external debt at end-March 2015 showed an increase of USD 29.5 billion (6.6 per cent) over end-March 2014, due to the rise in commercial borrowings and NRI deposits,” RBI said in a release.

“Further, the increase in the magnitude of external debt was partly offset by the valuation gains resulting from the appreciation of the US dollar vis-a-vis Indian rupee and other major currencies,” it said.

The long-term debt at the end of March was USD 391.1 billion, reflecting an increase of 10.3 per cent over the March 2014 level.

The short-term external debt was USD 84.7 billion in March, showing a decline of 7.6 per cent over the March 2014 level.

Short-term debt, the release said, accounted for 17.8 per cent of the total external debt as at March-end as against 20.5 per cent at March 2014.

The shares of government (sovereign) and non-government debt in the total external debt increased to 18.9 per cent and 81.1 per cent, respectively, at the end of March 2015.

According to the release, the share of US Dollar denominated debt was the highest in the external debt stock at 58.3 per cent at the end of March 2015, followed by debt denominated in Indian rupee (27.9 per cent), SDR (5.8 per cent), Japanese yen (4 per cent) and Euro (2.4 per cent).

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Go to Top