India Short Term External Debt stood at $426 bn in December 2013
India Short Term External Debt stood at $426 bn in December 2013
India’s external debt was at $426 billion — including the government’s debt of $76.4 billion — at the end of December.
“Government (Sovereign) external debt stood at $76.4 billion, (17.9 per cent of total external debt) at end-December 2013 as against $81.7 billion (20.2 per cent) at end-March 2013,”
The total external debt of $426 billion showed an increase of $21.1 billion over the March-end level.
The Finance ministry said that long-term debt was $333.3 billion at the end of December, showing an increase of 8.1 per cent over March, 2013 level,
Short-term debt declined by 4.1 per cent to $92.7 billion.
The share of US dollar denominated debt, as expected, was the highest in external debt stock and stood at 63.6% at end-December 2013, followed by debt denominated in Indian rupee at19.4%, International Monetary Fund's special drawing rights at7.1%, Japanese yen at 5% and Euro at 3.1%
Short-term debt comprises money coming for redemption within a year, it means at least $92.71 bn will mature by December 31, 2014.
China has much greater foreign exchange reserves; $3.18 trillion in 2012 against $296.57 bn for India. In fact, India's forex cover to total external debt has been declining over the years.
One of the reason is waste of money by Politicians
Just One example –
India need roads, dams, infrastructure, connecting all the rivers, bullet proof jackets for police department the list is never ending but last 65 years our leaders waste the money on building statue of leaders and they forget about the good deeds and living standards of those leaders
Suggested Reading –
Part One - How Currency Exchange Rate is decided? How Currency exchange rate of Indian Rupee and Dollar is decided?
Part Two - How Currency Exchange Rate is decided? How Currency exchange rate of Indian Rupee and Dollar is decided?
Reality views by sm –
Saturday, March 29, 2014
Tags – India External Debt
