With a rise in long term debt particularly NRI deposits, India's external debt stock rose by 2. 2 percent to $485. 6 billion by end of last fiscal, an official report said on Monday.
According to "India's External Debt: A Status Report 2015 - 16" prepared by the Department of Economic Affairs of Union Ministry of Finance, the external debt, in absolute term, rose by $10. 6 billion by end of March 2016 over the same level previous year.
"At end - March 2016, long - term external debt was $402. 2 billion, showing an increase of 3. 3 per cent over the level of 2015 (end - March).
Long - term external debt accounted for 82. 8 per cent of total external debt at end - March 2016 as compared to 82 per cent at end - March 2015, " a statement said.
The report said the short - term external debt declined by 2. 5 per cent from $84. 7 billion at end - March 2015 to $83. 4 billion at end - March 2016.
"This was mainly due to the decline in trade related credits.
The share of short - term external debt in total external debt declined from 18 per cent at end - March 2015 to 17. 2 per cent at end - March 2016, " it said.
Government (sovereign) external debt stood at $93. 4 billion at end - March 2016 vis - a - vis $89. 7 billion at end - March 2015.
The share of Government external debt in total external debt was 18. 9 per cent at end - March 2016 vis - a - vis 18. 8 per cent at end - March 2015.
According to a government note, India's external debt has remained within manageable limits in 2015 - 16 as indicated by the increase in foreign exchange reserves to debt ratio to 74. 2 per cent, the external debt - GDP ratio of 23. 7 per cent, and fall in short term debt to 17. 2 per cent.
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