India's External Debt Rises to $663 Billion.

National

As of the end of March 2024, India's external debt stood at $663.8 billion, marking an increase of $39.7 billion from March 2023. The Reserve Bank of India has provided a detailed breakdown of these figures, highlighting several key developments. India's external debt to GDP ratio saw a slight decline, dropping to 18.7% in March 2024 from 19.0% a year earlier. This decrease reflects a relative improvement in managing the country's debt levels against its economic output


      A significant portion of the debt increase can be attributed to the appreciation of the US dollar against the Indian rupee and other major currencies like the yen, euro, and Special Drawing Rights (SDR).

      This currency valuation effect amounted to $8.7 billion. Excluding this factor, the actual increase in external debt would have been $48.4 billion instead of $39.7 billion.

     

 

     


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