India’s Finance Ministry Ministry said that India’s external debt was over $573 billion at the end of March, last year
The Indian government released data pointed out that the external debt of the country surged by 8.2% to more than $620 billion at the end of March this year.
The 28th edition of the Status Report on India’s External Debt 2021-22 released by the Department of Economic Affairs of Union Finance Ministry said that India’s external debt was over $573 billion at the end of March, last year.
The external debt as a ratio to Gross Domestic Product (GDP) fell marginally to 19.9% as of March this year. It was at 21.2% in March, last year
Commercial borrowings, Non-resident Indians (NRIs) deposits, short-term trade credit and multilateral loans together accounted for 90% of the total external debt.
The external debt as a ratio to Gross Domestic Product (GDP) fell marginally to 19.9% as of March this year. It was at 21.2% in March, last year.
*********************************************************************
Readers
These are extraordinary times. All of us have to rely on high-impact, trustworthy journalism. And this is especially true of the Indian Diaspora. Members of the Indian community overseas cannot be fed with inaccurate news.
Pravasi Samwad is a venture that has no shareholders. It is the result of an impassioned initiative of a handful of Indian journalists spread around the world. We have taken the small step forward with the pledge to provide news with accuracy, free from political and commercial influence. Our aim is to keep you, our readers, informed about developments at ‘home’ and across the world that affect you.
Please help us to keep our journalism independent and free.
In these difficult times, to run a news website requires finances. While every contribution, big or small, will makes a difference, we request our readers to put us in touch with advertisers worldwide. It will be a great help.
For more information: pravasisamwad00@gmail.com
