India's External Debt Rises

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Home : News : Economy : India's External Debt Rises Email to a friend \| Print version \| India's External Debt Rises By Indiapressagency.com on September 11,2006 Related news » Exports From India On An Upswing by Newsdesk posted on Jul 14,2006 » Some interesting economic facts about India by correspondent posted on Aug 03,2006 » Trade deficit drops to Nu. 5.1 billion in 2005-2006 - Kuensel, Buhutan's National Newspaper by India export exports - Google posted on Mar 23,2007 » SA Aims For $12bn Trade With India By 2010 by reporter posted on Sep 12,2006 » Investors Free To Invest In Foreign Mutual Funds by correspondent posted on Jul 28,2006 India's external debt has risen to $125.2 billion as on March 2006, as compared to $123.2 billion in the previous fiscal. "The increase in external debt was $2 billion during 2005-06 compared to $11.6 billion a year ago," an official statement said. The lower level of accumulation of external debt in 2005-06 has been attributed to redemption of $5.5 billion India Millennium Deposits (IMDs) by State Bank of India in December 2005. Component-wise, the increase in debt stock during 2005-06 was mainly due to escalation in NRI deposits and surge in short-term credits, which were partially offset by contraction in commercial borrowings and bilateral loans. Source: PTI 1017 times read
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