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India’s external debt rose 8.2% to $620 billion in 2021-22

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Indias external debt rose 8.2 percent to $620.7 billion as of March 31, 2022, compared to $573.7 billion as of March 31, 2021.



Of this, 53.2 percent of the foreign debt was denominated in US dollars, the Indian rupee debt was estimated at 31.2 percent and was the second largest, according to the status report on India2021-22 external debt, released by the Ministry of Finance on Monday.

According to the report, external debt relative to GDP fell marginally to 19.9 percent in March 2022, compared to 21.2 percent in the same period a year ago. Foreign exchange reserves, relative to external debt, were slightly lower at 97.8 percent than in March 2022, compared to 100.6 percent in the same period a year ago.

Long-term debt, estimated at $499.1 billion, made up the bulk of 80.4 percent, while short-term debt, at $121.7 billion, makes up 19.6 percent of total external debt. Short-term trade credit was mainly in the form of trade credit (96 percent) that financed imports, the report added.

Commercial loans, deposits from NRAs, short-term trade credits and multilateral loans all accounted for 90 percent of total external debt. While NRI In contrast, deposits that had contracted marginally during the end of March 2021 and the end of March 2022, commercial loans, short-term trade credits and multilateral loans increased over the same period.

The increase in commercial loans, short-term trade credits and multilateral loans combined was significantly larger than the contraction in NRA deposits, the report said.

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