Long-term debt forms the large part of the debt at 82.2%, while India's short-term debt exposure, which was 20.5% in March 2014, came down to 17.8% of the total external debt.
India's external debt increased by $29.5 billion (approximately Rs 1.9 lakh crore) to stand at $475.8 billion (approximately Rs 31.4 lakh crore) at the end of March 2015, a 6.6% increase over the last year's debt of $446.3 billion (approximately Rs 29.4 lakh crore), according to a report by the department of Economic Affairs.
According to the report 'India's External Debt: A Status Report 2014-15', India's external debt increased in the last fiscal on the back of a rise in long-term debt, mainly commercial borrowings and NRI deposits.
Long-term debt forms the large part of the debt at 82.2%, while India's short-term debt exposure, which was 20.5% in March 2014, came down to 17.8% of the total external debt.
In March 2015, long term debt was at $391.1 billion (approximately Rs 25.8 lakh crore), an increase of 10.3% over the March 2014. Short-term debt in the period was $84.7 billion (approximately Rs 5.6 lakh crore).
Moreover, Government's external debt stood at 18.9% of the total external debt in March this year, at $89.7 billion (approximately Rs 5.9 lakh crore), as compared to $83.7 billion (approximately Rs 5.5 lakh crore) in March 2014.
The ministry has said that India's external debt is within manageable limits as indicated by the external debt to GDP ratio of 23.8% during 2014-15. “External debt of the country continues to be dominated by the long-term borrowings," the report said.
According to a cross country comparison of the external debt data carried out by the Finance Ministry based on “International Debt Statistics 2015” released by the World Bank, India continues to be among the less vulnerable countries with its external debt indicators comparing well with other indebted developing countries.
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