External Debt
External debt (also called foreign debt) is the total debt which the residents of a country owe to foreign creditors. The debtors can be the government, corporations or citizens of that country. The debt includes money owed to private commercial banks, foreign governments, or international financial institutions such as the International Monetary Fund (IMF) and World Bank.
India classifies external debt under the 8 heads - Multilateral, Bilateral, Trade credit, Commercial borrowings, IMF loans, NRI and PIO deposits, Rupee debt, NPR debt
External debt (also called foreign debt) is the total debt which the residents of a country owe to foreign creditors. The debtors can be the government, corporations or citizens of that country. The debt includes money owed to private commercial banks, foreign governments, or international financial institutions such as the International Monetary Fund (IMF) and World Bank.
India classifies external debt under the 8 heads - Multilateral, Bilateral, Trade credit, Commercial borrowings, IMF loans, NRI and PIO deposits, Rupee debt, NPR debt
SUBJECT Variables
TOTAL EXTERNAL DEBT
- India’s total external debt as on 31 Mar'23 rose by 0.9% year-on-year to touch a record high of USD 624.6 billion.
- In rupee terms, India's external debt as of 31 Mar'23 stood at 5,136K crore.
- Sovereign (government) debt, comprising 21.3% of India's total external debt, increased by 1.9% to USD 133.3 billion, as of Mar'23.
- Non-sovereign (non-government) debt, comprising 78.7% of India's total external debt, increased marginally by 0.6% to USD 499.3 billion, as of Mar'23.
- The US dollar continues to be the predominant currency for India's external debt comprising 54.6% of the total external debt as of Mar'23.
- The US dollar appreciated vis-à-vis the Indian rupee as of end-March 2023 over the level a year ago. As a result, the valuation gains due to the appreciation of the US dollar were placed at USD 20.6 billion. Excluding the valuation effect, external debt would have increased by USD 26.2 billion instead of USD 5.6 billion at end-March 2023 over end-March 2022.
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