<p> External debt stood at 262.3 billion at the end of fiscal 2009-10 and increased by 33.5 billion dollars during the April-September period of current fiscal 2010-11, data released by the Finance Ministry show.<br /><br />Analysis of data shows rupee appreciation led to rise in external debt by $6.3 billion posting a massive 188 per cent of the total increase, during the period.<br /><br />The long-term debt rose by 9.5 per cent to $229.8 billion, while short-term debt increased by 25.8 per cent to $66 billion during the first half. Amongst the components of long-term debt, which accounted for nearly 80 per cent of the total debt, the share of commercial borrowings stood at 27.8 per cent.<br /><br />“The increase in India’s external debt at end-September 2010 over end-March 2010 level was mainly on account of higher commercial borrowings and short-term debt,” the Finance Ministry said.<br /><br />The surge in India Inc’s commercial borrowing was primarily due to surge in demand for dollar to meet the import requirements following revival in the economy.<br /><br />The share of government debt in total external debt stood at $72.3 billion (24.4 per cent of total debt) as against $67.1 billion at the end of March.<br /><br />The break up of the external debt shows the share of US dollar in the external debt portfolio was at 53.9 per cent at end-September. While the share of NRI deposits was at 16.9 per cent, multilateral debt accounted for 15.8 per cent of the total debt at the end of September.<br /><br />The share of US dollar denominated debt was the highest in external debt stock at 53.9 per cent at end-September 2010 followed by the Indian Rupee (18.8 per cent), the Finance Ministry said.</p>
<p> External debt stood at 262.3 billion at the end of fiscal 2009-10 and increased by 33.5 billion dollars during the April-September period of current fiscal 2010-11, data released by the Finance Ministry show.<br /><br />Analysis of data shows rupee appreciation led to rise in external debt by $6.3 billion posting a massive 188 per cent of the total increase, during the period.<br /><br />The long-term debt rose by 9.5 per cent to $229.8 billion, while short-term debt increased by 25.8 per cent to $66 billion during the first half. Amongst the components of long-term debt, which accounted for nearly 80 per cent of the total debt, the share of commercial borrowings stood at 27.8 per cent.<br /><br />“The increase in India’s external debt at end-September 2010 over end-March 2010 level was mainly on account of higher commercial borrowings and short-term debt,” the Finance Ministry said.<br /><br />The surge in India Inc’s commercial borrowing was primarily due to surge in demand for dollar to meet the import requirements following revival in the economy.<br /><br />The share of government debt in total external debt stood at $72.3 billion (24.4 per cent of total debt) as against $67.1 billion at the end of March.<br /><br />The break up of the external debt shows the share of US dollar in the external debt portfolio was at 53.9 per cent at end-September. While the share of NRI deposits was at 16.9 per cent, multilateral debt accounted for 15.8 per cent of the total debt at the end of September.<br /><br />The share of US dollar denominated debt was the highest in external debt stock at 53.9 per cent at end-September 2010 followed by the Indian Rupee (18.8 per cent), the Finance Ministry said.</p>
