New Delhi [India], June 30 (ANI): The external debt of the country for the year ending March 2020 stood at USD 558.5 billion, the Reserve Bank of India (RBI) on Tuesday said.
The external debt has recorded an increase of USD 15.4 billion over its level at end-March 2019, the RBI said.
However, during this period the valuation gains due to the appreciation of the US dollar vis-a-vis Indian rupee and other major currencies were placed at USD 16.6 billion.
"Excluding the valuation effect, the increase in external debt would have been USD 32.0 billion instead of USD 15.4 billion at end-March 2020 over end-March 2019," according to a release.
Commercial borrowings, with a share of 39.4 per cent, are the largest components of the country's external debt, followed by non-resident deposits (23.4 per cent) and short-term trade credit (18.2 per cent), among others.
It also said that US dollar-denominated debt is still the largest component of India's external debt with a share of 53.7 per cent at end-March 2020, followed by the Indian rupee (31.9 per cent), yen, and so forth.
At end-March 2020, long-term debt (with an original maturity of above one year) was placed at USD 451.7 billion, recording an increase of USD 17.0 billion over its level at end-March 2019.
The share of short-term debt (with an original maturity of up to one year) in total external debt declined to 19.1 per cent at end-March 2020 from 20.0 per cent at end-March 2019; the ratio of short-term debt (original maturity) to foreign exchange reserves declined to 22.4 per cent at end-March 2020 (26.3 per cent at end-March 2019), according to the release. (ANI)