Given the increase in non-resident deposits, short-term debt and commercial borrowings by companies, India's external debt increased by 5.8% in April-September to $365.3 billion. The long-term debt, which forms 76.9% of total external debt, stood at $280.8 billion at end-September, showing an increase of 5.1% over the March-end 2012 level.
While, short-term debt which accounts for 23.1% of the country's total external debt registered 8.1% growth at $84.5 billion. Component-wise, the share of commercial borrowings stood highest at 29.8%, followed by NRI deposits at 18.3% and multilateral debt at 13.9%.
Debt denominated in US dollars topped the chart with a share of 55.7% in total external debt followed by the Indian rupee (22.9%) and Japanese yen (8.6%). Meanwhile, India’s foreign exchange reserves provided a cover of 80.7% to the total external debt stock at end-September against 85.2% at end-March, 2012.
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