INDIA'S CURRENT DEBT and AMOUNT SPENT on INTEREST??

Question

hi frnds... can i know India's current debt and the amount of money spent on interest?? plllsssssssssss... reply as soon as possible!!

Answer 1

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Answer 2

India's external debt increased to 120.9 billion dollars at the end of December 2004 as against 112.8 billion dollars during the corresponding period of 2003.

During this period, the external debt stock rose by 8.1 billion dollar, of which 3.1 billion dollar or 38 per cent was contributed by valuation effects arising from depreciation of the US dollar, according to the Eleventh Status Report on India's External Debt.

Significantly, between December 2002 and December 2004, India's external debt rose by 15.5 billion dollar, of which 8.7 billion dollar (56 per cent) was on account of weakening of the US currency, the report released by the Department of Economic Affairs on Friday, said.

During the same period, the sovereign debt rose by 879 million dollar. If the US dollar had not depreciated, sovereign debt would have actually declined by 3.9 billion dollar during this period.

External debt indicators continued to show improvement over the years though the magnitude of debt has increased. The external debt-to-GDP ratio has gradually declined over the years to 17.8 per cent in 2003-04 and debt service payments as a proportion of gross current receipts (debt-service ratio) dropped to 16.2 per cent in 2003-2004 and further to 6.1 per cent during April-December 2004.

Similarly, ratios of short-term debt to total debt and short-term debt to forex assets too have improved over the years. India's ability to service external debt has substantially enhanced consequent on the improvement in the ratios of total debt service payments and interest payments to current receipts.

The debt accumulation was moderate and debt sustainability indicators have improved progressively in the recent past mirroring essentially the sustained efforts of the Government to keep external debt within manageable limits.

In terms of international comparison, India's external debt indicators such as short-term debt to total debt and short-term debt to forex reserve ratio are the lowest among the top ten debtor countries.

Proportion of concessional loans in total debt is the highest for India, while debt to Gross National Income ratio is the second lowest after China in the year 2003.

World Bank upgraded India from moderately indebted to less indebted country in 1999.

Among the top ten debtor countries of the world, India improved its rank from third debtor after Brazil and Mexico in 1991 to eighth in 2003.