NEW DELHI: India’s exterior debt rose via 8.2 in step with cent year-on-year to $620.7 billion as of March 2022, which in keeping with the finance ministry is sustainable.
While 53.2 in step with cent of it was once denominated in america greenback, Indian rupee-denominated debt, estimated at 31.2 in step with cent, was once the second one greatest, as in step with the standing document on India’s exterior debt launched via the ministry.
“India’s external debt continues to be sustainable and prudently managed. As of end-March 2022, it stood at $620.7 billion, growing by 8.2 per cent over the level a year ago. External debt as a ratio to GDP was 19.9 per cent, while reserves to external debt ratio were 97.8 per cent,” it stated.
Foreign forex reserves as a ratio to exterior debt stood reasonably decrease at 97.8 in step with cent as of end-March 2022 than 100.6 in step with cent a 12 months in the past.
The document stated the long-term debt estimated at $499.1 billion constituted the most important bite of 80.4 in step with cent, whilst the momentary debt at $121.7 billion accounted for 19.6 in step with cent of the overall.
The momentary industry credit score was once predominantly within the type of industry credit score (96 in step with cent) financing imports.
The sovereign debt at $130.7 billion rose upper via 17.1 in step with cent over its degree a 12 months in the past, principally as a result of the extra allocation of Special Drawing Rights (SDR) via the International Monetary Fund (IMF) all over 2021-22.
The non-sovereign debt, alternatively, grew 6.1 in step with cent to $490.0 billion over the extent as of end-March 2021, it stated, including industrial borrowings, NRI deposits and momentary industry credit score are the 3 largest parts of the non-sovereign debt, accounting for up to 95.2 in step with cent.
While NRI deposits declined via 2 in step with cent to $139 billion, industrial borrowings at $209.71 billion and momentary industry credit score at $117.4 billion rose via 5.7 in step with cent and 20.5 in step with cent, respectively, it stated.
Observing that the debt vulnerability signs persisted to be benign, the document stated the debt provider ratio fell considerably to five.2 in step with cent all over 2021-22 from 8.2 in step with cent within the earlier 12 months, reflecting buoyant present receipts and moderating exterior debt provider bills.
The debt provider fee duties coming up out of the inventory of exterior debt as of end-March 2022 are projected to development downwards over the approaching years, it stated, including that from a cross-country standpoint, India’s exterior debt is simple.
In phrases of quite a lot of debt vulnerability signs, India’s sustainability was once higher than the Low- and Middle-Income Countries (LMICs) as a bunch and vis-a-vis lots of them personally, it stated.
While 53.2 in step with cent of it was once denominated in america greenback, Indian rupee-denominated debt, estimated at 31.2 in step with cent, was once the second one greatest, as in step with the standing document on India’s exterior debt launched via the ministry.
“India’s external debt continues to be sustainable and prudently managed. As of end-March 2022, it stood at $620.7 billion, growing by 8.2 per cent over the level a year ago. External debt as a ratio to GDP was 19.9 per cent, while reserves to external debt ratio were 97.8 per cent,” it stated.
Foreign forex reserves as a ratio to exterior debt stood reasonably decrease at 97.8 in step with cent as of end-March 2022 than 100.6 in step with cent a 12 months in the past.
The document stated the long-term debt estimated at $499.1 billion constituted the most important bite of 80.4 in step with cent, whilst the momentary debt at $121.7 billion accounted for 19.6 in step with cent of the overall.
The momentary industry credit score was once predominantly within the type of industry credit score (96 in step with cent) financing imports.
The sovereign debt at $130.7 billion rose upper via 17.1 in step with cent over its degree a 12 months in the past, principally as a result of the extra allocation of Special Drawing Rights (SDR) via the International Monetary Fund (IMF) all over 2021-22.
The non-sovereign debt, alternatively, grew 6.1 in step with cent to $490.0 billion over the extent as of end-March 2021, it stated, including industrial borrowings, NRI deposits and momentary industry credit score are the 3 largest parts of the non-sovereign debt, accounting for up to 95.2 in step with cent.
While NRI deposits declined via 2 in step with cent to $139 billion, industrial borrowings at $209.71 billion and momentary industry credit score at $117.4 billion rose via 5.7 in step with cent and 20.5 in step with cent, respectively, it stated.
Observing that the debt vulnerability signs persisted to be benign, the document stated the debt provider ratio fell considerably to five.2 in step with cent all over 2021-22 from 8.2 in step with cent within the earlier 12 months, reflecting buoyant present receipts and moderating exterior debt provider bills.
The debt provider fee duties coming up out of the inventory of exterior debt as of end-March 2022 are projected to development downwards over the approaching years, it stated, including that from a cross-country standpoint, India’s exterior debt is simple.
In phrases of quite a lot of debt vulnerability signs, India’s sustainability was once higher than the Low- and Middle-Income Countries (LMICs) as a bunch and vis-a-vis lots of them personally, it stated.
