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RBI (file image)
– Photo: ANI
expansion
India’s external debt increased to $663.8 billion by March 2024. Compared to March 2023, this debt increased by $39.7 billion. Even so, India’s external debt ratio improved marginally to 18.7 percent of GDP in 2023-24, the lowest level in 13 years. In 2022-23, the ratio stood at 19 percent. RBI released data on Thursday and said that if we remove The impact of the valuation caused by the increase in the value of the US dollar against the rupee, India’s external debt increased by 48.4 billion dollars in one year instead of 39.7 billion dollars.
The highest loan taken out in dollars
According to RBI data, the share of loans in the total external debt of the country till March 2024 was the highest at 33.4 percent. During this period, a maximum of 58.8% of external loans were taken in US dollars. 31.5 percent of the loan was taken in Indian rupees. At the same time, the share of the yen was 5.8 percent, the Singapore dollar was 5.4 percent and the euro was 2.8 percent.
According to the data, the government’s share of the external debt ratio of 18.7 percent was 4.2 percent, while the contribution of the non-governmental sectors was 14.5 percent.
(Except translation, this story has not been edited by achinews staff and is published from a syndicated feed.)
source link https://www.amarujala.com/india-news/rbi-data-country-external-debt-ratio-of-663-8-billion-has-come-down-to-lowest-level-in-13-years-2024-06-26
