India’s External Debt fell by $19.3 billion, or 3.6%, to $510.4 billion during the 6-month period ended September 2018.
According to Reserve Bank Of India (RBI)’s latest report, the country’s external debt fell by $19.3 billion, or 3.6%, to $510.4 billion during the 6-month period ended September 2018.
The REASON?
The reason behind external debt’ fall was due to a decrease in commercial borrowings, Non-Resident Indian (NRI) deposits and valuation gains resulting from appreciation of US dollar against Indian rupee and other major currencies.
Commercial borrowings were the largest element of external debt with 37.1% of share.
India’s external debt data is published quarterly, with a lag of one quarter. Statistics for the first two quarters of the calendar year are compiled and published by the Reserve Bank of India.
Data for the last two quarters is compiled and published by the Ministry of finance.
The Government of India also publishes an annual status report on the debt which contains detailed statistical analysis of the country’s external debt position.
