External Debt QDEC2011

GOVERNMENT OF INDIA
INDIAS EXTERNAL DEBT

AS AT
END-DECEMBER 2011
MINISTRY OF FINANCE
DEPARTMENT OF ECONOMIC AFFAIRS
EXTERNAL DEBT MANAGEMENT UNIT
MARCH, 2012
www.finmin.nic.in

AS AT
END-DECEMBER 2011
MINISTRY OF FINANCE
DEPARTMENT OF ECONOMIC AFFAIRS
EXTERNAL DEBT MANAGEMENT UNIT
MARCH, 2012
www.finmin.nic.in
CONTENTS
Page No.
Major Highlights
1.
2.
3.
4.
5.
6.
7.
8.
External Debt Stock

Valuation Effect
External Debt by Original Maturity
Government and Non-Government External Debt
Currency Composition of External Debt
External Debt Indicators
International Comparison
External Debt Management
1
1
3
4
5
6
8
9
10
Charts
I
II
IIIA
IIIB
Component-wise share of Indias External Debt at end-December 2011

Share of Government and Non-Government External Debt in Total External Debt
Currency Composition of Indias External Debt at end-December 2011
Currency Composition of Governments External Debt at end-December 2011
4
6
7
8
Text Tables
1.
2.
3.
4.
5.
6A.
6B.
7.
8.
Composition of Indias External Debt

External Debt Outstanding
Valuation Effect and Rise in External Debt
External Debt by Creditor Category
Currency Composition of Indias External Debt
Currency Composition of Governments External Debt
Indias Key External Debt Indicators
International Comparison of Top Twenty Developing Debtor Countries, 2010
2
3
3
4
5
6
7
8
9
Indias External Debt Outstanding (Quarterly) ` crore

Indias External Debt Outstanding (Quarterly) - US$ million
Creditor-wise Sovereign External Debt - ` crore
Creditor-wise Sovereign External Debt - US$ million
Key External Debt Indicators
Gross External Debt Position by Original Maturity of Select Developing Countries
11
14
17
18
19
20
Annex
I
II
III
IV
V
V1

(at end-December 2011)
As per the standard practice, India's external debt data are disseminated on a quarterly basis.
Statistics for the first two quarters of the calendar year (ending March and June) are compiled and
released by the Reserve Bank of India, while the data for the last two quarters (ending September
and December) are compiled and released by the Ministry of Finance, Government of India, with a
lag of one quarter. In addition, Government of India brings out an annual Status Report on External
Debt that contains detailed analysis of external debt position of the country. The major developments
relating to India's external debt at end-December 2011 are presented below.
Major Highlights
(i)
At end-December 2011, India's external debt stock was US$ 334.9 billion, recording an
increase of US$ 28.8 billion (9.4 per cent) over the level of US$ 306.1 billion at end-March
2011. In rupee terms, it increased from `13,67,177 crore at end-March 2011 to `17,83,654
crore at end-December 2011, reflecting an increase of 30.5 per cent.
(ii)
The rise in external debt could largely be attributed to higher commercial borrowings and
short-term debt. These two components together accounted for 84.7 per cent of the rise in
total external debt at end-December 2011 over the level of end-March 2011.
(iii) The valuation effect due to appreciation of US dollar vis--vis most major international
currencies contributed a decline of US$ 12.2 billion in the debt stock at end-December 2011
over the end-March 2011. This implies that excluding the valuation effect, the increase in
debt would have been higher by US$ 41.0 billion at end-December 2011 over the endMarch 2011 level.
(iv)
Short-term debt (original maturity) accounted for 23.3 per cent of India's external debt while
the remaining (76.7 per cent) was long-term debt. Component-wise, the share of commercial
borrowings stood highest at 29.9 per cent in total external debt, followed by NRI deposits
(15.7 per cent) and multilateral debt (14.9 per cent).
(v)
The share of Government (Sovereign) and non-Government debt in the total external debt
were 24.3 per cent and 75.7 per cent respectively, at end-December 2011.
(vi)
The share of US dollar denominated debt was the highest in external debt stock at 56.9 per
cent at end-December 2011, followed by the Indian rupee (18.6 per cent), Japanese yen
(10.4 per cent), SDR (8.9 per cent) and euro (3.8 per cent).
(vii) India's external debt to GDP ratio stood at 20.0 per cent at end-December 2011 vis--vis
17.8 per cent at end-March 2011.
(viii) The ratio of short-term external debt (original maturity) to foreign exchange reserves increased
to 26.3 per cent at end-December 2011 as compared to 21.3 per cent at end-March 2011.
(ix)
The ratio of concessional debt to total external debt declined to 14.4 per cent at end-December
2011 from 15.5 per cent at end-March 2011.
1.
External Debt Stock
1.1
At end-December 2011, India's total external debt stock was US$ 334.9 billion, reflecting
an increase of US$ 28.8 billion (9.4 per cent) over end-March 2011 estimates of US$ 306.1 billion
(Table 1). The long-term debt increased by US$ 15.8 billion (6.5 per cent) to US$ 256.9 billion,
while short-term debt showed an increase of US$ 13.1 billion (20.1 per cent) to US$ 78.1 billion.
Annex I and II present the quarter-wise disaggregated data on external debt outstanding for the
period from March 2010 to December 2011 in Indian rupee and US dollar, respectively.
Table 1: Composition of Indias External Debt

Sl.
No.
Components
10
Absolute Variation
(US$ million)
Percentage
Variation
March
2011
PR
June
2011
PR
Sept.
2011
PR
Dec.
2011
QE
Dec.
2011
over
March
2011
(6-3)
Dec.
2011
over
Sept.
2011
(6-5)
Dec.
2011
over
March
2011
Dec.
2011
over
Sept.
2011
10
48,474
49,374
49,122
49,910
1,436
788
3.0
1.6
(15.8)
(15.6)
(15.2)
(14.9)
25,708
26,168
27,077
27,125
1,417
48
5.5
0.2
(8.4)
(8.3)
(8.4)
(8.1)
6,308
6,367
6,213
6,108
-200
-105
-3.2
-1.7
(2.1)
(2.0)
(1.9)
(1.8)
18,616
18,695
19,484
19,860
1,244
376
6.7
1.9
(6.1)
(5.9)
(6.0)
(5.9)
Commercial Borrowings 88,750
93,352
96,781
100,088
11,338
3,307
12.8
3.4
(29.0)
(29.5)
(29.9)
(29.9)
51,682
52,897
52,304
52,497
815
193
1.6
0.4
(16.9)
(16.7)
(16.1)
(15.7)
1,601
1,568
1,422
1,307
-294
-115
-18.4
-8.1
(0.5)
(0.5)
(0.4)
(0.4)
241,139
248,421
252,403
256,895
15,756
4,492
6.5
1.8
(78.8)
(78.4)
(77.9)
(76.7)
64,990
68,474
71,530
78,052
13,062
6,522
20.1
9.1
(21.2)
(21.6)
(22.1)
(23.3)
306,129
316,895
323,933
334,947
28,818
11,014
9.4
3.4
Multilateral
Bilateral
IMF
Export credit
NRI Deposits
Rupee Debt
Long-term debt
(1 to 7)
External Debt Outstanding

at end of (US$ million)
Short-term debt
Total External Debt

(8+9)
PR: Partially Revised
QE: Quick Estimates
Figures in parenthesis indicate their respective percentages to total external debt.
1.2
The increase in India's external debt at end-December 2011 over end March 2011 level was
mainly on account of higher commercial borrowings and short-term debt. These two components
together contributed 84.7 per cent of the total increase in India's external debt. The increase in
commercial borrowings and short-term trade credits reflected improved access to global financial
markets and the need for financing import demand.
1.3
Quarter-wise change in external debt position since March 2009 is given in Table 2 below.
Table 2: External Debt Outstanding
(US$ million)
At the end of
Total External Debt
Variation
Over corresponding Quarter
Over Previous Quarter
of Previous year
Amount
Per cent
Amount
Per cent
March 2009
224,498
91
0.0
-5,205
-2.3
June 2009
229,888
4,543
2.0
5,390
2.4
September 2009
243,171
18,087
8.0
13,283
5.8
December 2009
252,809
23,106
10.0
9,638
4.0
March 2010
260,935
36,436
16.2
8,125
3.2
June 2010
270,246
40,358
17.6
9,311
3.6
September 2010
288,519
45,348
18.6
18,273
6.8
December 2010
295,687
42,878
17.0
7,168
2.5
March 2011
306,129
45,194
17.3
10,442
3.5
June 2011
316,895
46,649
17.3
10,766
3.5
September 2011
323,933
35,414
12.3
7,038
2.2
December 2011
334,947
39,260
13.3
11,014
3.4
2.
Valuation Effect
2.1
The valuation effect* arises because external debt is denominated in different currencies,
and the US dollar value which is the international numeraire for indicating debt numbers, fluctuates
over time vis--vis other currencies. The US dollar has appreciated against most major international
currencies between March 2011 and December 2011. Excluding the valuation effect, the increase in
external debt between end-March 2011 and end-December 2011 would have been higher by US$
12.2 billion, to US$ 347.1 billion (Table 3).
Table 3: Valuation Effect and Rise in External Debt
(US$ billion)
1
External debt at
end-December 2011
Total Variation over

end-March 2011
Valuation Effect
Variation net of
Valuation Effect (2-3)
28.8
(-)12.2
41.0
Total Variation over

end-September 2011
Valuation Effect
Variation net of
Valuation Effect (2-3)
11.0
(-)7.1
18.1
334.9
The Valuation Effect during a period (e.g. end-March to end-December) is calculated by applying
start-of-the-period (e.g. end-March) exchange rates to end-of-the-period (e.g. end-December) currency
components of the debt stock and comparing the resultant figure with the nominal end-of-the-period (e.g. endDecember) debt-stock.
3.
External Debt by Original Maturity
3.1
At end-December 2011, long-term debt accounted for 76.7 per cent of total external debt. The
long-term debt increased by US$ 15.8 billion (6.5 per cent) between end-March and end-December
2011. The increase in long-term debt could largely be attributed to rise in commercial borrowings.
Short-term debt, led mainly by trade related credits stood at US$ 78.1 billion, reflecting an increase of
US$ 13.1 billion (20.1 per cent) over end-March 2011 level. The percentage share of different
components in total external debt is presented in Table 4.
Table 4: External Debt by Creditor Category
(Per cent)
Sl.
No.
Category
at end-March
2006
2007
2008
2009
2010
2011
endJune
2011 PR
endSept.
2011PR
end
Dec.
2011QE
10
11
Multilateral
23.4
20.5
17.6
17.6
16.4
15.8
15.6
15.2
14.9
Bilateral
11.3
9.3
8.8
9.2
8.7
8.4
8.3
8.4
8.1
IMF
0.7
0.6
0.5
0.5
2.3
2.1
2.0
1.9
1.8
Export Credit
3.9
4.2
4.5
6.5
6.5
6.1
5.9
6.0
5.9
Commercial
Borrowings
19.0
24.0
27.8
27.8
27.1
29.0
29.5
29.9
29.9
NRI Deposits
26.1
23.9
19.5
18.5
18.3
16.9
16.7
16.1
15.7
Rupee Debt
1.5
1.1
0.9
0.7
0.6
0.5
0.5
0.4
0.4
Total Long Term

(1 to 7)
85.9
83.6
79.6
80.8
79.9
78.8
78.4
77.9
76.7
Short-term
14.1
16.4
20.4
19.2
20.1
21.2
21.6
22.1
23.3
10
Grand Total
100
100
100
100
100
100
100
100
100
(8+9)
PR: Partially Revised; QE: Quick Estimates.
3.2
Chart I gives a diagrammatic representation of the break-up of Indias external debt at endDecember 2011.
Chart I: Component-wise share of India's External Debt at end-
December 2011 (per cent)

Rupee debt (0.4)
Export credit (5.9)
IMF (1.8)
Commercial Borrowings (29.9)
Bilateral (8.1)
Multilateral (14.9)
Short-term debt (23.3)

NRI Deposits (15.7)
4.
4.1
At end-December 2011, Government debt stood at US$ 81.2 billion, while non-Government
debt amounted to US$ 253.8 billion. The share of Government debt in total external debt declined
from 25.5 per cent at end-March 2011 to 24.3 per cent at end-December 2011. The ratio of Government
debt to GDP remained around 5.0 per cent in the last four years. Details of Government and nonGovernment debt are presented in Table 5 and Chart II. Creditor-wise details of sovereign external
debt in Indian rupee and US dollar are placed at Annex III and IV, respectively.
Table 5: Government and Non-Government External Debt
(US$ million)
Sl.
Components
at end-March
No.
1
A
end-
end-
end
June
Sept.
Dec.
2006
2007
2008
2009
2010
2011PR
2011PR
2011PR
2011QE
10
11
67,067
78,071
78,603
79,178
81,195
Government Debt
(I+II)
As per cent of GDP
46,259
49,360
58,070 55,870
5.6
5.0
4.7
5.1
4.7
4.6
4.0
4.3
4.7
33.3
28.6
25.9
24.9
25.7
25.5
24.8
24.5
24.3
43,510
46,155
52,541 51,816
55,235
62,294
62,849
63,319
63,686
2,749
3,205
5,529
4,054
11,832
15,777
15,754
15,859
17,509
2,609
2,879
4,914
3,115
10,314
12,935
12,820
12,635
11,768
140
326
615
939
1,518
2,842
2,934
3,224
5,741
92,855
123,000
238,292
244,755
253,752
11.2
12.5
13.4
15.2
13.6
13.3
11.9
13.5
15.3
66.7
71.4
74.1
75.1
74.3
74.5
75.2
75.5
75.7
139,114
172,360
316,895
323,933
334,947
16.8
17.5
15.9
17.8
20.0
As per cent of total

external debt
I.
External Debt on
Govt. Account under
External Assistance
II.
Other Govt. External

Debt ( 1+2)
1)

Debt - Long-term
2)

Debt - Short-term
B.
Non-Government
Debt
As per cent of GDP
166,337 168,628
193,868 228,059
As per cent of total

external debt
C.
Total External
Debt (A+B)
As per cent of GDP
224,407 224,498
18.0
260,935 306,129
20.3
18.3
17.8

Notes:
(i)
External debt to GDP ratio for the period ending June, September and December 2011 is based on the advance estimates of
GDP for 2011-12 released by the CSO and is provisional in nature.
(ii) From March 2005 onwards, Other Government Short-term external debt includes FII investment in Treasury Bills and from
March 2007 onwards, it also includes investment in Treasury Bills by foreign central banks and international institutions.
(iii) The increase in 'Other Government External Debt-Long-term' from 2010 onwards is on account of SDR allocations of SDR
3082.5 million on August 28, 2009 and SDR 214.6 million on September 9, 2009 and the consequent increase in cumulative
SDR allocations to US$ 6.2 billion at end-December 2009. SDR allocations fall in the category of 'long-term reserve-related
liability' of the country to the other participants of the IMF's SDR Department.
6
Chart II: Share of Government and Non-Government External Debt in Total External Debt
80
75.1
74.1
70
74.5
74.3
71.4
75.5
75.2
75.7
66.7
60
Per cent
50
40
33.3
28.6
30
25.9
25.7
24.9
25.5
24.8
24.5
24.3
20
10
0
Mar-06
Mar-07
Mar-08
Mar-09
Mar-10
Government Debt
5.
Mar-11
Jun-11
Sep-11
Dec-11
Non-Government Debt
Currency Composition of External Debt
5.1
The currency composition of India's total external debt is presented in Table 6A and Chart
IIIA. US dollar denominated debt accounted for 56.9 per cent of total external debt at end-December
2011, followed by the Indian rupee (18.6 per cent), Japanese yen (10.4 per cent), SDR (8.9 per cent)
and euro (3.8 per cent).
Table 6A: Currency Composition of Indias External Debt
(As per cent to total external debt)
Sl.
Currency
at end March
at end of
No.
1
June
Sept.
Dec.
2006
2007
2008
2009
2010
2011PR
2011PR
2011PR
2011QE
10
11
US dollar
48.8
51.1
55.3
54.1
53.2
53.6
54.3
55.8
56.9
Indian rupee
18.8
18.5
16.2
15.4
18.7
19.5
19.1
18.2
18.6
Japanese yen
10.9
11.4
12.0
14.3
11.5
11.4
11.1
12.1
10.4
SDR
14.3
12.4
10.6
9.8
10.7
9.7
9.5
9.1
8.9
Euro
4.4
3.9
3.5
4.1
3.6
3.7
3.7
3.5
3.8
Pound sterling
2.6
2.4
2.2
1.9
1.8
1.7
1.7
0.8
0.8
Others
0.2
0.3
0.2
0.4
0.5
0.5
0.6
0.5
0.6
Total (1 to 7)
100
100
100
100
100
100
100
100
100
Chart III A: Currency Composition of India's External Debt at endDecember 2011 (per cent)
Pound sterling (0.8)
Euro (3.8)
SDR (8.9)
Others (0.6)
Japanese yen (10.4)
US dollar (56.9)
Indian rupee (18.6)
5.2
The currency composition of Government debt indicates pre-dominance of SDR
denominated debt (36.6 per cent), which is attributed to borrowing from International Development
Association (IDA) i.e., the soft loan window of the World Bank under the multilateral agencies
and SDR allocations by the International Monetary Fund (IMF). Share of US dollar denominated
debt was 26.2 per cent at end-December 2011, followed by the Japanese yen (19.4 per cent)
(Table 6B and Chart IIIB).
Table 6B: Currency Composition of Government External Debt
(As per cent to total Government external debt)
Sl.
Currency
at end-March
at end of
No
June
Sept.
Dec.
2009
2010
2011PR
2011PR
2011PR
2011QE
SDR
39.5
41.7
38.1
38.2
37.3
36.6
US dollar
29.6
26.5
26.8
26.7
26.5
26.2
Japanese yen
19.9
18.6
18.8
18.9
19.9
19.4
Indian rupee
5.7
8.9
12.4
12.2
12.5
14.2
Euro
5.2
4.3
3.9
3.9
3.8
3.6
Pound sterling
0.1
0.0
0.0
0.0
0.0
0.0
Total (1 to 6)
100
100
100
100
100
100
PR: Partially revised; QE: Quick Estimates.
Chart III(B): Currency Composition of Government's External Debt at endDecember 2011 (per cent)
Euro (3.6)
US Dollar (26.2)
Japanese Yen (19.4)
Indian Rupee (14.2)
SDR (36.6)
6.
External Debt Indicators
6.1
India's foreign exchange reserves provided a cover of 88.6 per cent to the external debt stock at
end-December 2011 (99.6 per cent at end-March 2011). The ratio of short-term to total external debt
stood at 23.3 per cent at end-December 2011 (21.2 per cent at end-March 2011) while the ratio of
short-term to foreign exchange reserves was 26.3 per cent at end-December 2011, as compared to 21.3
per cent at end-March 2011. The ratio of concessional debt to total external debt declined to 14.4 per
cent at end-December 2011 from 15.5 per cent at end-March 2011, reflecting the increasing share of
non-Government debt. The key external debt indicators are presented in Table 7 and Annex V.
Table 7: Indias Key External Debt Indicators
(Per cent)
Year
External
Debt
(US$ billion)
Total
External
Debt to
GDP
Debt
Service
Ratio
Foreign
Exchange
Reserves
to Total
External
Debt
Concessional
Debt to
Total
External
Debt
Short-term
External
Debt* to
Foreign
Exchange
Reserves
Short-term
External
Debt*
to Total
Debt
139.1
172.4
224.4
224.5
260.9
306.1
316.9
323.9
334.9
16.8
17.5
18.0
20.3
18.0
17.8
15.9
17.8
20.0
10.1#
4.7
4.8
4.4
5.5
4.2
4.6
-
109.0
115.6
138.0
112.1
106.8
99.6
99.6
96.2
88.6
28.4
23.0
19.7
18.7
16.8
15.5
15.1
14.8
14.4
12.9
14.1
14.8
17.2
18.8
21.3
21.7
23.0
26.3
14.0
16.3
20.4
19.3
20.1
21.2
21.6
22.1
23.3
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11PR
End-June 2011 PR
End-Sept. 2011 PR
End-Dec. 2011 QE

- : Not worked out for the broken period. *: Short-term debt is based on original maturity.
#: Works out to 6.3 %, with the exclusion of India Millennium Deposits (IMDs) repayments of US$ 7.1 billion and pre-payment of
US$ 23.5 million.
Notes: (i) Debt-service ratio is the proportion of gross debt service payments to External Current Receipts (net of official
transfers).
(ii) External debt to GDP ratio for the period ending June, September and December 2011 is based on the advance
estimates of GDP for 2011-12 released by the CSO and is provisional.
7.
International Comparison
7.1
A cross country comparison of external debt of twenty most indebted developing countries,
based on the data given in World Bank's publication titled Global Development Finance, 2012
which contains the debt numbers for the year 2010 and has a time lag of two years, showed that
India was the fifth most indebted country, after the China, Russian Federation, Brazil and Turkey in
2010 in terms of stock of external debt. The ratio of India's external debt stock to gross national
income (GNI) at 16.9 per cent was fourth lowest with China having the lowest ratio at 9.3 per cent
(Table 8).
7.2
In terms of the cover of external debt provided by foreign exchange reserves, India's position
was fifth highest at 103.5 per cent after China, Thailand, Malaysia and Russia. A comparison of the
share of short-term debt in total external debt across countries reveals that India's position was
eighth lowest with Pakistan having the lowest ratio.
Table 8: International Comparison of Top Twenty Developing Debtor Countries, 2010
Sl.
Country
No.
Total
Total external
Short-term
Foreign
External
debt to Gross
to total
Exchange
Debt Stock
National
external
reserves/
(US$ million)
Income
Debt
total debt
(Per cent)
(Per cent)
(Per cent)
China
548,551
9.3
63.4
531.2
Russian Federation
384,740
26.9
10.1
124.6
Brazil
346,978
16.9
18.9
83.2
Turkey
293,872
40.4
26.6
29.3
India
290,282
16.9
19.4
103.5
Mexico
200,081
19.5
19.5
60.3
Indonesia
179,064
26.1
17.5
53.7
Argentina
127,849
36.1
27.4
40.8
Romania
121,505
76.4
20.6
39.5
10
Kazakhstan
118,723
94.3
7.6
23.8
11
Ukraine
116,808
85.9
22.7
29.6
12
Chile
86,349
45.9
30.0
32.2
13
Malaysia
81,497
35.4
43.0
130.7
14
Philippines
72,337
36.2
8.7
86.2
15
Thailand
71,263
23.4
54.0
241.4
16
Colombia
63,064
22.8
13.0
44.5
17
Pakistan
56,773
31.3
4.0
30.4
18
Venezuela
55,572
14.3
27.8
53.4
19
Bulgaria
48,077
104.8
32.0
35.8
20
South Africa
45,165
12.7
27.2
97.0
Note: Countries are arranged based on the magnitude of debt presented in column no.3 in the Table.
Source: World Banks Global Development Finance, 2012.
10
7.3
The Quarterly External Debt (QEDS) database, jointly developed by the World Bank and
the International Monetary Fund, brings together detailed external debt data of countries that are
subscribing to IMF's Special Data Dissemination Standard/General Data Dissemination System.
The position in respect of the highly indebted developing countries and subscribers to this arrangement
for the second and third quarters of the calendar year 2011, which has been published by the World
Bank [http://go.worldbank.org/GWMYALHYQ0], is placed at Annex VI.
8.
External Debt Management
8.1
India's external debt has remained within manageable limits due to prudent debt
management policy that emphasizes raising sovereign loans on concessional terms with longer
maturities, regulating external commercial borrowings through end-use and all-in-cost restrictions,
rationalizing interest rates on Non Resident Indian (NRI) deposits and monitoring long as well as
short-term debt.
*****
6,743
a) Public Sector
(i) Concessional
B.Non-Government borrowing
ii) Non-concessional
(i) Concessional
A.Government borrowing
II. BILATERAL
1,121
3,169
1,295
3,561
32,699
30,392
74,238
74,238
106,937
71,584
71,584
101,976
2,410
IBRD
ii) Others
2,692
2,692
2,410
i)
4,153
4,042
ii) Others
c) Private Sector
5,501
6,375
5,385
8,861
8,544
15,604
23,797
23,797
1,348
IBRD
39,389
27,415
1,343
i)
b) Financial Institutions
ii) Others
IBRD
14,919
i)
a) Public Sector
22,714
(i) Concessional
22,714
b) Others
B. Non-Government Borrowing
28,874
25,802
a) IBRD
1,523
66,804
1,494
54,676
Others
b)
117,548
184,352
208,149
June 2010 PR
116,025
116,046
170,722
193,436
Mar. 2010 PR
114,552
IDA
a)
(i) Concessional
A. Government Borrowing
I. MULTILATERAL
S.No. Components of External Debt
1,472
3,886
33,853
77,428
77,428
111,281
2,673
2,673
4,887
1,813
6,700
6,454
9,003
15,457
24,830
24,830
27,691
38,834
66,525
1,543
116,854
118,397
184,922
209,752
Sept. 2010 PR
1,467
3,899
34,267
79,170
79,170
113,437
2,889
2,889
5,238
1,786
7,024
6,567
8,939
15,506
25,419
25,419
30,226
39,651
69,877
1,524
116,126
117,650
187,527
212,946
Dec.2010 PR
1,621
4,101
34,482
80,406
80,406
114,888
3,033
3,033
5,612
1,899
7,511
6,609
9,193
15,802
26,346
26,346
30,455
39,218
69,673
1,585
119,068
120,653
190,326
216,672
March 2011 PR
At the end of
Indias External Debt Outstanding (Quarterly)
1,687
4,188
36,171
81,610
81,610
117,781
4,020
4,020
6,447
2,067
8,514
6,783
9,293
16,076
28,610
28,610
31,597
39,803
71,400
1,632
120,882
122,514
193,914
222,524
June 2011 PR
1,802
4,573
40,318
92,182
92,182
132,500
4,168
4,168
7,135
2,213
9,348
7,645
10,255
17,900
31,416
31,416
35,290
42,815
78,105
1,782
129,095
130,877
208,982
240,398
Sept. 2011 PR
Contd..
3,620
6,535
45,607
98,818
98,818
144,425
4,847
4,847
7,706
2,483
10,189
8,605
11,130
19,735
34,771
34,771
39,660
47,668
87,328
1,914
141,707
143,621
230,949
265,720
10
Dec. 2011 QE
(` crore)
Annex - I
11
Financial Institutions
b)
EXPORT CREDIT
IV.
Export credit component of
c)
(I TO VII)
TOTAL LONG TERM DEBT
942,450
771
b) Civilian
VIII.
6,709
Defence
a)
7,480
33,453
c) NRO Deposits
RUPEE DEBTe
64,625
b) FCNR (B)
217,062
118,984
(Above one year maturity)d
NRI DEPOSITS
a) NR(E) RA
VII.
VI.
multilateral/bilateral guarantee + IFC(W)
c) Loans/securitized borrowings etc., with
3,694
113,177
Securitized borrowings c
b)
202,350
319,221
6,225
2,937
66,849
76,011
27,264
9,942
3,436
13,845
a) Commercial bank loans b
V. COMMERCIAL BORROWINGS
bilateral credit
Suppliers credit
b)
a) Buyers credit
IMFa
c) Private Sector
Public Sector
a)
27,223
2,048
Mar. 2010 PR
c) Private Sector
b)
III.
995,779
745
6,635
7,380
35,712
66,887
121,340
223,939
3,663
117,488
219,812
340,963
6,455
2,942
71,597
80,994
27,417
11,371
3,428
14,339
29,138
2,266
June 2010 PR
1,027,464
743
6,630
7,373
37,878
68,374
121,062
227,314
3,496
129,283
229,016
361,795
6,733
2,874
72,532
82,139
27,810
12,179
3,690
14,098
29,967
2,414
Sept. 2010 PR
1,051,026
743
6,631
7,374
40,370
67,657
119,010
227,037
3,351
129,870
244,800
378,021
6,884
2,915
74,959
84,758
27,453
12,537
3,691
14,140
30,368
2,432
Dec.2010 PR
At the end of
1,077,028
731
6,416
7,147
43,352
69,658
117,802
230,812
3,266
130,455
262,502
396,223
6,992
2,861
73,270
83,123
28,163
12,857
3,754
13,770
30,381
2,480
March 2011 PR
1,112,827
705
6,311
7,016
47,106
71,970
116,769
235,845
3,055
128,068
286,396
417,519
7,097
2,834
73,738
83,669
28,473
14,399
3,790
13,794
31,983
2,501
June 2011 PR
1,234,811
703
6,254
6,957
54,470
77,404
123,970
255,844
2,723
133,040
337,642
473,405
8,016
2,990
84,303
95,309
30,398
16,856
4,008
14,881
35,745
2,771
Sept. 2011 PR
Contd..
1,367,990
703
6,256
6,959
62,260
81,884
135,425
279,569
2,767
143,035
387,215
533,017
8,593
3,382
93,789
105,764
32,536
18,958
4,242
15,872
39,072
2,915
10
Dec. 2011 QE
(` crore)
12
SHORT-TERM DEBT
IX.
Commercial banks
2)
1,178,638
3,162
3,139
1,258,728
3,196
2,977
6,173
393
15,086
96,039
145,258
241,297
262,949
June 2010 PR
1,299,371
4,554
2,808
7,362
385
19,725
97,854
146,581
244,435
271,907
Sept. 2010 PR
1,324,968
3,100
2,980
6,080
200
17,854
98,964
150,844
249,808
273,942
Dec.2010 PR
1,367,177
4,011
Note:
1,419,075
3,846
597
4,443
214
26,391
110,018
165,182
275,200
306,248
June 2011 PR
1,584,698
3,731
604
4,335
322
30,210
126,561
188,459
315,020
349,887
Sept. 2011 PR
1,783,654
10,409
626
11,035
310
47,324
145,152
211,843
356,995
415,664
10
Dec. 2011 QE
(` crore)
international institutions have been included in external debt from the quarter ended March, 2007.
quarter ended March 2005. Vostro balances / Nostro overdrafts of commercial banks, balances of foreign central banks/international institutions with RBI and investment in T-bills/securities by foreign central banks/
NRO Deposits are included under NRI Deposits from the quarter ended June 2005. Suppliers Credits upto 180 days and FII investment in short-term debt instruments are included under short-term debt from the

IFC(W): International Finance Corporation, Washington D.C.
FII:
Foreign Institutional Investors
a
Relates to SDR allocations from March 2004 onwards.
b
Includes Financial Lease since 1996.
c
Also includes India Development Bonds (IDBs), Resurgent India Bonds (RIBs), India Millennium Deposits (IMDs),
also includes Foreign Currency Convertible Bonds (FCCBs) and net investment by 100% FII debt funds.
FCCB debt has been adjusted since end-March, 1998 after netting out conversion into equity and redemptions.
d
Figures include accrued interest.
e
Rupee denominated debt owed to Russia and payable through exports.
693
4,704
225
24,214
103,200
157,806
261,006
290,149
March 2011 PR
Source: Ministry of Finance (Department of Economic Affairs), Ministry of Defence, Reserve Bank of India, Securities & Exchange Board of India.
X. GRAND TOTAL ( VIII+IX )
Central Bank
1)
6,301
467
15,153
87,876
126,391
214,267
236,188
Mar. 2010 PR
central banks and international institutions etc.
Investment in Treasury Bills by foreign
Treasury Bills and other instruments
FII Investment in Govt.
Up to 6 months
upto 1 year
6 Months and above/
d) External Debt Liabilities of:
c)
b)
2)
1)
a) Trade - Related Credits
At the end of
13
IDA
327
ii) Others
a) Public Sector
(i) Concessional
B. Non-Government borrowing
(i) Concessional
A. Government borrowing
II. BILATERAL
248
702
6,733
15,860
15,860
22,593
278
764
7,034
15,934
15,934
22,968
578
534
i) IBRD
ii Others
898
289
578
895
298
1,187
1,457
1,193
1,412
534
Others
IBRD
c) Private Sector
ii)
i)
1,902
3,359
5,124
5,124
5,884
8,454
1,893
3,305
IBRD
a) Public Sector
i)
5,032
(i) Concessional
5,032
5,717
B. Non-Government Borrowing
6,397
IBRD
14,338
331
12,114
24,904
25,231
39,569
44,693
June 2010 PR
25,380
25,711
37,825
42,857
Mar. 2010 PR
b) Others
a)
b) Others
a)
(i) Concessional
A. Government Borrowing
I. MULTILATERAL
327
865
7,525
17,235
17,235
24,760
595
595
1,083
403
1,486
1,431
2,004
3,435
5,516
5,516
6,164
8,644
14,808
343
26,011
26,354
41,162
46,678
Sept. 2010 PR
327
873
7,636
17,667
17,667
25,303
645
645
1,162
398
1,560
1,457
1,995
3,452
5,657
5,657
6,746
8,850
15,596
340
25,918
26,258
41,854
47,511
Dec.2010 QE
362
917
7,720
17,988
17,988
25,708
679
679
1,256
425
1,681
1,479
2,057
3,536
5,896
5,896
6,813
8,774
15,587
354
26,637
26,991
42,578
48,474
March 2011 PR
At the end of
Indias External Debt Outstanding (Quarterly)
374
929
8,064
18,104
18,104
26,168
899
899
1,433
459
1,892
1,507
2,061
3,568
6,359
6,359
7,009
8,829
15,838
362
26,815
27,177
43,015
49,374
June 2011 PR
368
934
8,241
18,836
18,836
27,077
852
852
1,458
452
1,910
1,562
2,096
3,658
6,420
6,420
7,211
8,748
15,959
365
26,378
26,743
42,702
49,122
Sept. 2011 PR
680
Contd..
1,227
8,564
18,561
18,561
27,125
910
910
1,447
466
1,913
1,616
2,090
3,706
6,531
6,531
7,449
8,953
16,402
360
26,617
26,977
43,379
49,910
10
Dec. 2011 QE
(US$ million)
Annex - II
14
Commercial bank loans
761
(I TO VII)
208,606
171
VIII. TOTAL LONG TERM DEBT
1,487
b) Civilian
1,658
47,890
819
25,075
44,832
70,726
1,379
651
14,811
16,841
6,041
2,198
a) Defence
RUPEE DEBTe
(Above one year maturity)d
NRI DEPOSITS
multilateral/bilateral guarantee + IFC(W)
c) Loans/securitized borrowings etc., with
COMMERCIAL BORROWINGS
b) Securitized borrowings c
a)
VII.
VI.
V.
of bilateral credit
c) Export credit component
b) Suppliers credit
Buyers credit
EXPORT CREDIT
a)
IV.
c)
IMFa
Private Sector
b)
3,072
6,031
Public Sector
a)
454
Mar. 2010 PR
c) Private Sector
III.
213,807
160
1,424
1,584
48,108
786
25,218
47,180
73,184
1,386
632
15,367
17,385
5,885
2,441
740
3,089
6,270
486
June 2010 PR
227,993
165
1,476
1,641
49,907
778
28,778
50,977
80,533
1,499
640
16,145
18,284
6,190
2,711
818
3,131
6,660
538
Sept. 2010 PR
234,545
166
1,480
1,646
50,672
748
28,985
54,637
84,370
1,536
650
16,730
18,916
6,127
2,798
820
3,145
6,763
546
Dec.2010 QE
241,139
164
1,437
1,601
51,682
732
29,221
58,797
88,750
1,564
641
16,411
18,616
6,308
2,880
840
3,083
6,803
555
March 2011 PR
At the end of
248,421
157
1,411
1,568
52,897
683
28,635
64,034
93,352
1,574
634
16,487
18,695
6,367
3,220
842
3,073
7,135
555
June 2011 PR
252,403
144
1,278
1,422
52,304
557
27,198
69,026
96,781
1,638
611
17,235
19,484
6,213
3,446
819
3,042
7,307
566
Sept. 2011 PR
548
Contd..
256,895
132
1,175
1,307
52,497
520
26,858
72,710
100,088
1,614
635
17,611
19,860
6,108
3,560
797
2,981
7,337
10
Dec. 2011 QE
(US$ million)
15
3,357
19,470
2)
20.1
52,329
16.8
43,931
260,935
701
695
1,396
20.9
56,439
16.1
43,513
270,246
686
639
1,325
84
3,238
20,614
31,178
51,792
56,439
June 2010 PR
21.0
60,526
16.0
46,095
288,519
1,014
625
1,639
86
4,391
21,782
32,628
54,410
60,526
Sept. 2010 PR
20.7
61,142
15.7
46,444
295,687
692
665
1,357
45
3,985
22,088
33,667
55,755
61,142
Dec.2010 QE
21.2
64,990
15.5
47,497
306,129
898
155
1,053
Relates to SDR allocations from March 2004 onwards.
Includes Financial Lease since 1996.
Also includes India Development Bonds (IDBs), Resurgent India Bonds (RIBs), India Millennium Deposits (IMDs),
The definition of concessional debt here includes concessional categoreis under multilateral and bilateral debt and rupee debt under item VII.
NRO Deposits are included under NRI Deposits from the quarter ended June 2005. Suppliers Credits upto 180 days and FII investment in short-term debt instruments are included under short-term debt from the
Note:
international institutions have been included in external debt from the quarter ended March, 2007.
quarter ended March 2005. Vostro balances / Nostro overdrafts of commercial banks, balances of foreign central banks/international institutions with RBI and investment in T-bills/securities by foreign central banks/
Rupee denominated debt owed to Russia and payable through exports.
23.3
78,052
14.4
48,072
334,947
1,955
118
2,073
58
8,886
27,256
39,779
67,035
78,052
10
Dec. 2011 QE
Figures include accrued interest.
22.1
71,530
14.8
47,935
323,933
763
123
886
66
6,176
25,874
38,528
64,402
71,530
Sept. 2011 PR
21.6
68,474
15.1
47,778
316,895
860
133
993
48
5,901
24,599
36,933
61,532
68,474
June 2011 PR
FCCB debt has been adjusted since end-March, 1998 after netting out conversion into equity and redemptions.
also includes Foreign Currency Convertible Bonds (FCCBs) and net investment by 100% FII debt funds.
Foreign Institutional Investors
FII:
IFC(W): International Finance Corporation, Washington D.C.
50
5,424
23,116
35,347
58,463
64,990
March 2011 PR
Source: Ministry of Finance (Department of Economic Affairs), Ministry of Defence, Reserve Bank of India, Securities & Exchange Board of India.
external debt (per cent)
Short-term debt to total
Short-term debt
external debt (per cent)
Concessional Debt to total
Concessional Debtf
Memo Items :
(VIII+IX)
Central Bank
Commercial banks
1)
External Debt Liabilities of:
central banks and international institutions etc. 103
X. GRAND TOTAL
d)
c) Investment in Treasury Bills by foreign
Bills and other instruments
b) FII Investment in Govt. Treasury
Up to 6 months
2)
28,003
47,473
6 Months and above/upto 1 year
a) Trade - Related Credits
1)
52,329
SHORT-TERM DEBT
IX.
Mar. 2010 PR
At the end of
(US$ million)
16
194,076
133,799
104,457
19,625
8,322
1,189
206
60,277
39,896
10,190
3071
2,469
4,627
24
12,258
11,634
624
206,334
620,522
17,553
12,479
5,074
208,700
586,305
2006
191,147
127,782
103,671
16,500
6,169
1,211
231
63,365
42,275
11,217
3,458
2807
3,576
32
2005
External Debt on Govt.

Account under External
Assistance (A+B)
A. Multilateral (1 to 5)
1 IDA
2 IBRD
3 ADB
4 IFAD
5 Others
B. Bilateral (6 to 11)
6 Japan
7 Germany
8 United States
9 France
10 Russian Federation
11 Others
II Total Other Govt.
External Debt [C+D]
C. Other Govt. External
Debt (Long-term)
D. Other Govt. External
Debt (Short-term)
III. Total Government
External Debt (I+II)
IV. Total External Debt
Category
Sl. No.
215,178
751,402
1,419
12,548
13,967
201,211
141,746
107,019
21,864
11,434
1,219
210
59,465
38,015
10,658
2,567
2,441
5,761
23
2007
232,198
897,290
2,460
19,652
22,112
210,086
144,630
105,944
22,638
14,594
1,247
207
65,456
43,207
11,393
2,049
2,446
6,336
25
2008
4,784
15,891
20,675
263,976
181,997
126,127
29,948
24,278
1,437
207
81,979
56,600
12,485
2,216
2,406
8,246
26
2009
284,651
1,142,125
at end-March
302,693
1,178,638
6,855
46,550
53,405
249,288
170,720
114,552
28,872
25,803
1,300
193
78,568
56,156
11,090
1,715
1,901
7,684
22
2010 PR
Creditor-wise Sovereign External Debt
348,895
1,367,177
12,692
57,748
70,440
278,455
190,326
119,067
39,218
30,455
1,398
188
88,129
65,907
11,899
1,489
1,750
7,062
22
2011 PR
15,770
61,782
77,552
309,884
208,982
129,095
42,815
35,290
1,579
203
100,902
77,654
12,807
1,534
1,730
7,156
21
11
2011 PR
at endSept.
354,426
387,436
1,419,075 1,584,698
13,120
57,981
71,101
283,325
193,913
120,882
39,803
31,597
1,444
187
89,412
67,403
12,188
1,473
1,689
6,638
21
10
2011 PR
at endJune
17,129
63,950
81,079
339,063
230,949
141,707
47,668
39,660
1,698
216
108,114
83,691
13,725
1,626
1,811
7,240
21
13
2011 QE
333,631
420,142
1,324,968 1,783,654
9,753
49,572
59,325
274,306
187,525
116,125
39,651
30,226
1,337
186
86,781
65,019
11,047
1,540
1,654
7,500
21
12
2010 PR
at end-December
(` crore)
Annex-III
17
Bilateral (6 to 11)
6. Japan
7. Germany
8. United States
9. France
10. Russian Federation
11. Others
31.1
33.2
PR: Partially Revised; QE: Quick Estimates
68.9
66.8
46,259
139,114
47,697
III. Total Sovereign External

Debt (I+II)
140
2,609
2,749
13,513
8,944
2,285
688
554
1,037
5
43,510
29,997
23,418
4,400
1,866
267
46
2006
134,002
1,159
D. Other Govt. External

Debt (Short-term)
IV. Total External Debt

Memo Items :
Multilateral debt to External
Assistance ( Per cent)
Bilateral debt to External
Assistance (Per cent)
2,852
4,011
14,482
9,662
2,564
790
642
817
7
43,686
29,204
23,693
3,771
1,410
277
53
2005
C. Other Govt. External

Debt (Long term)
II. Total Other Govt.

External Debt [C+D]
External Debt on Govt.

Account under External
Assistance (A+B)
A Multilateral (1 to 5)
1. IDA
2. IBRD
3. ADB
4. IFAD
5. Others
I.
Category
Sl. No.
29.6
70.4
172,360
49,360
326
2,879
3,205
13,640
8,720
2,445
589
560
1,321
5
46,155
32,515
24,548
5,015
2,623
280
49
2007
31.2
68.8
224,407
58,070
615
4,914
5,529
16,370
10,806
2,849
512
612
1,585
6
52,541
36,171
26,496
5,662
3,650
312
51
2008
7
2009
31.1
68.9
224,498
55,870
939
3,115
4,054
16,092
11,110
2,451
435
472
1,619
5
51,816
35,724
24,758
5,878
4,766
282
40
at end-March
31.5
68.5
260,935
67,067
1,518
10,314
11,832
17,410
12,444
2,458
380
421
1,702
5
55,235
37,825
25,380
6,397
5,717
288
43
2010
31.6
68.4
306,129
78,071
2,842
12,935
15,777
19,715
14,744
2,662
333
392
1,579
5
62,294
42,579
26,637
8,774
6,813
313
42
2011 PR
Creditor-wise Sovereign External Debt
31.6
68.4
316,895
78,603
2,934
12,820
15,754
19,834
14,952
2,704
327
374
1,472
5
62,849
43,015
26,815
8,829
7,009
320
42
10
2011 PR
at end-June
32.6
67.4
323,933
79,178
3,224
12,635
15,859
20,617
15,867
2,617
313
354
1,462
4
63,319
42,702
26,378
8,748
7,211
323
42
11
2011 PR
at end-Sept.
31.6
68.4
295,687
74,463
2,177
11,064
13,241
19,368
14,511
2,466
344
369
1,674
4
61,222
41,854
25,918
8,850
6,746
299
41
12
2010 PR
31.9
68.1
334,947
81,195
5,741
11,768
17,509
20,307
15,720
2,578
305
340
1,360
4
63,686
43,379
26,617
8,953
7,449
319
41
13
2011 QE
at end-December
(US$ million)
Annex-IV
18
4.6
*e
*e
316,895
323,933
334,947
3
35.3
30.2
27.5
25.4
25.9
26.2
23.0
19.5
18.7
17.1
16.6
13.7
16.0a
16.1 b
5.9 c
10.1d
4.7
4.8
4.4
5.5
4.2
83,801
85,285
90,023
92,695
99,008
93,730
93,470
93,531
96,886
98,263
101,326
98,843
104,914
112,653
134,002
139,114
172,360
224,407
224,498
260,935
306,129
Debt Service
Ratio
External Debt
(US$ million)
88.6
96.2
99.6
7.0
10.8
10.9
20.8
25.4
23.1
28.3
31.4
33.5
38.7
41.7
54.7
72.5
100.3
105.6
109.0
115.6
138.0
112.1
106.8
99.6
Foreign
Exchange Reserves to
Total Debt
20.0
17.8
15.9
28.7
38.7
37.5
33.8
30.8
27.0
24.6
24.3
23.6
22.0
22.5
21.1
20.3
18.0
18.1
16.8
17.5
18.0
20.3
18.0
17.8
Total
External Debt to
GDP
14.4
14.8
15.1
45.9
44.8
44.5
44.4
45.3
44.7
42.2
39.5
38.5
38.9
35.4
35.9
36.8
35.8
30.7
28.4
23.0
19.7
18.7
16.8
15.5
Concessional
Debt to Total Debt

a
Works out to 12.4 %, with the exclusion of pre-payment of US$ 3.4 billion.
b
Works out to 8.2 %, with the exclusion of pre-payment of US$ 3.8 billion and redemption of Resurgent India Bonds (RIBs) of US$ 5.5 billion.
c
Works out to 5.7 % with the exclusion of pre-payment of US$ 381 million.
d
Works out to 6.3 %, with the exclusion of India Millennium Deposits (IMDs) repayments of US$ 7.1 billion and pre-payment of US$ 23.5 million.
*e
Not worked out for the broken period.
1990-91
1991-92
1992-93
1993-94
1994-95
1995-96
1996-97
1997-98
1998-99
1999-00
2000-01
2001-02
2002-03
2003-04
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10 PR
2010-11 PR
2011-12(EndJune 2011) PR
2011-12(EndSept. 2011) PR
2011-12(EndDec.2011) QE
Year
Key External Debt Indicators (per cent)
26.3
23.0
21.7
146.5
76.7
64.5
18.8
16.9
23.2
25.5
17.2
13.2
10.3
8.6
5.1
6.1
3.9
12.5
12.9
14.1
14.8
17.2
18.8
21.3
Short-term
Debt to Foreign
Exchange Reserves
23.3
22.1
21.6
10.2
8.3
7.0
3.9
4.3
5.4
7.2
5.4
4.4
4.0
3.6
2.8
4.5
3.9
13.2
14.0
16.3
20.4
19.3
20.1
21.2
Shortterm Debt to
Total Debt
Annex - V
19
Russian Federation
Brazil
India
Turkey
Mexico
Indonesia
Argentina
Romania
Ukraine
Kazakhstan
Thailand
South Africa
Czech Republic
Chile
Malaysia
Colombia
Slovak Republic
Croatia
Slovenia
Bulgaria
10
11
12
13
14
15
16
17
18
19
20
15,664
11,456
8,051
34,159
10,007
40,662
21,763
28,680
20,261
54,957
11,105
28,704
22,549
32,311
38,256
55,662
84,959
68,474
54,686
73,724
Short-term
3
38,138
49,790
60,888
41,744
59,008
48,857
74,713
77,112
94,473
57,022
113,499
94,683
120,985
102,744
184,560
224,180
225,313
249,010
341,517
465,104
2011 Q2
Long-term
4
53,802
61,246
68,938
75,903
69,015
89,519
96,476
105,792
114,734
111,979
124,604
123,387
143,535
135,055
222,816
279,842
310,272
317,484
396,203
538,828
Total
5
Source: Quarterly External Debt Statistics (QEDS) (http://go.worldbank.org/GWMYALHYQ0)
Countries
S.No.
14,315
11,024
6,831
31,424
10,250
42,816
22,082
30,117
19,057
54,973
8,878
29,074
21,319
35,438
38,933
47,520
89,154
71,530
45,932
67,403
Short-term
6
Gross External Debt Position by Original Maturity of Select Developing Countries
35,602
46,633
56,576
40,265
61,808
49,053
76,069
71,510
88,701
60,632
113,988
94,075
112,453
100,952
184,744
227,684
220,440
255,071
354,374
459,672
2011 Q3
Long-term
7
49,917
57,657
63,407
71,689
72,058
91,869
98,151
101628
107,758
115,605
122,865
123,149
133,772
136,390
223,676
275,203
309,594
326,601
400,306
527,076
Total
8
(US$ million)
Annex - VI
20

External Debt QDEC2011

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External Debt QDEC2011

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GOVERNMENT OF INDIA

INDIAS EXTERNAL DEBT

INDIAS EXTERNAL DEBT

External Debt Stock

Component-wise share of Indias External Debt at end-December 2011

Composition of Indias External Debt

Indias External Debt Outstanding (Quarterly) ` crore

INDIAS EXTERNAL DEBT

Table 1: Composition of Indias External Debt

Commercial Borrowings 88,750

External Debt Outstanding

Total External Debt

PR: Partially Revised

QE: Quick Estimates

Figures in parenthesis indicate their respective percentages to total external debt.

Total External Debt

Over Previous Quarter

Total Variation over

Total Variation over

External Debt by Original Maturity

Total Long Term

PR: Partially Revised; QE: Quick Estimates.

December 2011 (per cent)

Commercial Borrowings (29.9)

Short-term debt (23.3)

Government and Non-Government External Debt

As per cent of total

Other Govt. External

Other Govt. External

Other Govt. External

As per cent of total

PR: Partially Revised; QE: Quick Estimates.

Currency Composition of External Debt

PR: Partially Revised; QE: Quick Estimates.

Japanese yen (10.4)

PR: Partially revised; QE: Quick Estimates.

Japanese Yen (19.4)

Indian Rupee (14.2)

External Debt Indicators

PR: Partially Revised; QE: Quick Estimates.

External Debt Management

S.No. Components of External Debt

Indias External Debt Outstanding (Quarterly)

Export credit component of

TOTAL LONG TERM DEBT

(Above one year maturity)d

multilateral/bilateral guarantee + IFC(W)

c) Loans/securitized borrowings etc., with

a) Commercial bank loans b

S.No. Components of External Debt

PR: Partially Revised; QE: Quick Estimates.

X. GRAND TOTAL ( VIII+IX )

central banks and international institutions etc.

Investment in Treasury Bills by foreign

Treasury Bills and other instruments

FII Investment in Govt.

6 Months and above/

d) External Debt Liabilities of:

a) Trade - Related Credits

S.No. Components of External Debt

S.No. Components of External Debt

Indias External Debt Outstanding (Quarterly)

Commercial bank loans