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India’s External Debt

India’s External Debt:

As per the External Debt management Unit.India’s external debt rose to US$ 620.7 bnas on March 2022 (an increase of over 8% compared to the previous year)

  • A country’s gross external debt is the liabilities that are borrowed from outside the country and have to be paid back in the same currency.
  • The debtors can be governments, corporations or citizens.
  • External debt may be denominated in domestic or foreign currency. (Most of India’s external debt is linked to the U.S. dollar).

External debt is classified as:

  • External Commercial Borrowing
  • Currency Convertible Bonds
  • Government Borrowings (sovereign debt)
  • NRI deposits