India's external debt up 11.9 per cent to $251.4 billion in April - December 2009

31 Mar 2010

1

India's total external debt stood at $251.4 billion as of end-December 2009, up $26.8 billion (or 11.9 per cent) from the end-March 2009 estimates of $224.6 billion, figures releases by the finance ministry showed.

DollarThe country's long-term debt increased by $25.0 billion (or 13.8 per cent) to $206.2 billion, while short-term debt increased by $1.8 billion (4.3 per cent) to $45.2 billion, compared with the end-March estimates of $181.2 billion and $43.4 billion, respectively.

Of the total $26.8 billion increase in India's external debt at end-December 2009, about $9.9 billion (or 40 per cent) was on account of valuation effect of the depreciation of the US dollar against major international currencies. This implies that if the US dollar had not depreciated against the major currencies, the increase in total external debt would have been only $16.9 billion to $241.5 billion.

Government (sovereign) external debt was $66.9 billion (a share of 26.6 per cent in total external debt) as at end-December 2009 as against $55.9 billion (a share of 24.9 per cent of total external debt) as at end-March 2009. The ratio of government external debt to GDP has remained around 5.0 per cent in the last three years.

US dollar denominated debt accounted for 52.0 per cent of total external debt at end-December 2009, followed by the Indian rupee (17.2 per cent), Japanese yen (12.7 per cent), SDR (11.4 per cent) and Euro (4.2 per cent).

The debt-service ratio, ie, the ratio of total debt service payments to current receipts worked out to 5.1 per cent during April-December 2009 against 4.0 per cent for April-December 2008. The ratio of short-term external debt to foreign exchange reserves decreased from 17.2 per cent at end-March 2009 to 15.7 per cent at end-December 2009.

Business History Videos

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

Vijay Mallya’s Kingfisher Ai...

It is about Kingfisher Airlines, a company that once soared...

By Aniket Gupta | Presenter: Sheetal Gaekwad

The story of Cadbury | Compa...

Today’s video is about the history of a brand we are all fa...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

view more