External debt rises 5.8% to $365 billion in Apr-Sept

India’s external debt went up by 5.8 per cent during April-September at $365.3 billion on the back of higher NRI deposits, short-term debt and commercial borrowings. This is higher than the country’s foreign exchange reserves that stood at $294.8 billion for the week ended September 28.

This represented a cover of 80.7 per cent to the total external debt stock at the end of September vis-à-vis 85.2 per cent at beginning of this financial year.

As per data released by finance ministry on Monday, the long-term debt stood at $280.8 billion as on September 30 marking an increase of 5.1 per cent while the short-term debt jumped by 8.1 per cent to $84.5 billion. Long-term debt accounts for 76.9 per cent of India’s total external debt while the remaining 23.1 per cent is accounted by shot-term debt.

Component-wise, share of commercial borrowings was highest at 29.8 per cent in this financial year, followed by NRI deposits (18.3 per cent) and multilateral debt (13.9 per cent). Government (sovereign) external debt stood at $81.5 billion, (22.3 per cent of total external debt) at the end of the second quarter vis-à-vis $81.9 billion (23.7 per cent) at end of March. The ratio of short-term external debt to foreign exchange reserves increased to 28.7 per cent at end-September from 26.6 per cent at March-end.

yogimassharma@mydigitalfc.com

EDITORIAL OF THE DAY

  • No ifs and buts, please, in India’s engagement with Iran

    Some foreign policy purveyors in this country have for long insisted that India does not leverage its civilisational connections as it should or is ca

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Urs Schoettli

New masters of the Financial Times

A few days ago, Japan’s leading financial daily Nihon Keizai ...

Anuja Sharma

Focus mindfully to get the result

Have you ever tried to light a fire using the ...

Gautam Gupta

Our fashion schools need to notch it up

“Creativity is the key to success and primary education is ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture