India's external debt rises to $629.1 billion at end-June 2023
Click here! At end-June 2023, long-term debt (with original maturity of above one year) was placed at USD 505.5 billion, recording an increase of USD 9.6 billion over its level at end-March 2023, the report said. The share of short-term debt (with original maturity of up to one year) in total external debt declined to 19.6% at end-June 2023 from 20.6% at end-March 2023.
Similarly, the ratio of short-term debt (original maturity) to foreign exchange reserves declined to 20.8% at end-June 2023 (22.2% at end-March 2023). The RBI report further said the outstanding debt of the general government decreased, while non-government debt increased at end-June 2023.
The share of outstanding debt of non-financial corporations in total external debt was the highest at 39.8%, followed by deposit-taking corporations (except the central bank) (26.6%), general government (21.1 %) and other financial corporations (7.6%), the report added. Loans remained the largest component of external debt, with a share of 32.9%, followed by currency and deposits (22.9%), trade credit and advances (19.0%) and debt securities (16.8$)"Exciting news! Mint is now on WhatsApp Channels
. Read more on livemint.com
