Thursday, July 3, 2014

India's external debt increase at 7% over the previous fiscal

India's external debt for FY 2013-14 came in at $440.6 bn, a 7% increase over the previous fiscal. This $32 bn increase was led mainly by the FCNR(B) swaps introduced by the RBI and increased external commercial borrowings by the banks. Short term debt stood at $89.2 bn.