New Delhi, Sep 29 (SocialNews.XYZ) India's external debt has risen by 7.1 per cent as it stood at $617.1 billion in June 2022, against $575.3 billion during the corresponding period of last year, according to data released by the Reserve Bank of India (RBI).
US dollar-denominated debt remained the largest component of India's external debt, with a share of 54.7 per cent at end-June 2022, followed by debt denominated in the Indian rupee (30.4 per cent), SDR or special drawing rights (6.3 per cent), yen (5.1 per cent), and euro (2.8 per cent).
Short-term debt on residual maturity basis (i.e., debt obligations that include long-term debt by original maturity falling due over the next twelve months and short-term debt by original maturity) constituted 45.4 per cent of total external debt at end-June 2022 (43.2 per cent at end-March 2022) and stood at 47.6 per cent of foreign exchange reserves.
Loans remained the largest component of external debt, with a share of 31.1 per cent, followed by currency and deposits (22.3 per cent), trade credit and advances (20.6 per cent) and debt securities (18.0 per cent).
Compared to March 2022, when external debt had stood at $619 billion, there has been a marginal drop in external debt in June 2022, which was $617 billion.
Source: IANS
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