RBI Reports Decline in Short-Term Debt's Share of India's External Debt
India’s Reserve Bank (RBI) has announced a notable decline in the proportion of short-term debt within the country’s total external debt, marking a decrease of 2.1 percentage points by March 2024 compared to the previous year. This reduction is indicative of India’s strengthened external sector resilience. The ratio of short-term debt to foreign exchange reserves also fell from 22.2% to 19.0% over the same period, underlining improved stability.
India’s external debt reached $663.8 billion by March 2024, up $39.7 billion from the previous year. Excluding valuation effects due to currency fluctuations, the increase would have been $48.4 billion.
US dollar-denominated debt remains predominant at 53.8%, followed by Indian rupee (31.5%), yen (5.8%), SDR (5.4%), and euro (2.8%).
Long-term debt, with maturities exceeding one year, amounted to $541.2 billion, reflecting an increase of $45.6 billion year-on-year. Loans constitute the largest component at 33.4%, followed by currency and deposits (23.3%), trade credit and advances (17.9%), and debt securities (17.3%).
The ratio of debt service obligations to current receipts rose to 6.7% by March 2024, up from 5.3% in March 2023, indicating higher repayment burdens.
Bharat Petroleum Corporation Limited (BPCL) has appointed Sanjay Khanna as the Chairman and Managing Director…
India is full of cities, and many of them have special nicknames. These names show…
Global trade showcased the strong performance in the 2025 as the exports of goods reached…
Every year on 10th of April World Homoeopathy Day is observed. This day is marking…
Onions are one of the most commonly used vegetables in the world. They are used…
India's central bank has taken a new step to support small businesses by making it…