Press Information Bureau
Government of India
Ministry of Finance
15-September-2017 18:44 IST
Ministry of Finance releases India’s ‘External Debt: A Status Report 2016-17’;India’s External Debt stock stood at US$ 471.9 billion at end-March 2017, decreasing by US$ 13.1 billion (2.7 per cent) over the level at end-March 2016.
The 23rd Issue of the Annual Publication ‘India’s External Debt: A Status Report 2016-17’ prepared by the Department of Economic Affairs, Ministry of Finance, Government of India presents a detailed analysis of India’s External Debt position at end-March 2017, based on the data released by the Reserve Bank of India (RBI) on June 30, 2017 and data and information available from other sources. Apart from analysing the trend, composition and debt service of India’s external debt, the Report provides a comparative picture of India’s external debt vis-a-vis other countries, particularly developing countries.
The salient features of the Report are:
|India’s Key External Debt Indicators (per cent)|
|Year||2012-13||2013-14||2014-15||2015-16 R||2016-17 P|
|External Debt (US$ billion)||409.4||446.2||474.7||485.0||471.9|
|Growth in External Debt (%)||13.5||9.0||6.4||2.2||-(2.7)|
|Total External Debt to GDP||22.4||23.9||23.9||23.5||20.2|
|Debt Service Ratio||5.9||5.9||7.6||8.8||8.3|
|Concessional Debt to Total External Debt||11.1
|Foreign Exchange Reserves to Total External Debt||71.3||68.2||72.0||74.3||78.4
|Short term External Debt# to Foreign Exchange Reserves||33.1||30.1||25.0||23.1||23.8|
|Short term External Debt# to Total Debt||23.6||20.5||18.0||17.2||18.6|
|Short term debt (Residual Maturity) to total debt||42.1||39.7||38.5||42.7||41.5|
|Short term debt (Residual Maturity) to foreign exchange reserves||59.0||58.2||53.5||57.4||52.9|
Notes: R: Revised; P: Provisional # Short term debt is based on original maturity.
Debt Service Ratio is the proportion of gross debt service payments to current account receipts (net of official transfers)
A cross country comparison based on “International Debt Statistics 2017” of the World Bank which presents the debt data for 2015, shows thatIndia continues to be among the less vulnerable countries with its external debt indicators comparing well with other indebted developing countries. The ratio of India’s external debt stock to gross national income (GNI) at 23.4 per cent was the fifth lowest and in terms of the cover provided by foreign exchange reserves to external debt, India’s position was sixth highest at 69.7 per cent in 2015.
‘India’s External Debt: A Status Report 2016-17’ is available at the website of the Ministry of Finance –www.dea.gov.in.