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
