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India’s Foreign Debt Drops by 2.7%
September 25, 2017
According to a recent Finance Ministry report, the external debt of India now stands at $471.9 billion, which is 2.7% lower than last year’s $485 billion (recorded in March 2016).
The report titled “India’s External Debt: A Status Report 2016-17” said that the decline in the debt is on the account of reduction in the long-term debt, particularly in the commercial borrowings and the NRI deposits.
The report is the 23rd issue of an annual publication and offers a detailed insight into India’s external debt position using the RBI data.
