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Short-Term Debt’s Share of India
July 1 , 2024
146 days
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- The share of short-term debt with an original maturity of up to one year in total external debt declined to 18.5 per cent at end-March 2024 from 20.6 per cent at end-March 2023.
- The ratio of short-term debt to foreign exchange reserves declined to 19.0 per cent at end-March 2024 from 22.2 per cent at end-March 2023.
- India’s external debt stood at $663.8 billion at the end of March 2024.
- This is an increase of $39.7 billion over its level at end-March 2023.
- Excluding the valuation effect, the external debt would have increased by $48.4 billion instead of $39.7 billion at end-March 2024 over end-March 2023.
- The external debt to gross domestic product ratio declined to 18.7 per cent at end-March 2024 from 19.0 per cent at end-March 2023.
- The long-term debt (with an original maturity of above one year) was $541.2 billion at the end of March 2024.
- This is an increase of $45.6 billion over its level at end-March 2023.
- Components of the largest component of external debt:
- Share of Loans 33.4 per cent
- Currency and deposits (23.3 per cent)
- Trade credit and advances (17.9 per cent), and
- Debt securities (17.3 per cent).
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