India’s external debt not a cause to worry: Experts

Chennai, July 12 (IANS) India’s external debt of $620.7 billion need not be a concern as $490 billion is non-government and the share of government is only $130.8 billion, said experts.

According to Reserve Bank of India (RBI), India’s provisional external debt was put at $620.7 billion at the end of March 2022.

The non-government debt was $490 billion of which the share of non-financial corporation was about $250.2 billion.

Further the total debt of $620.7 billion as a percentage of gross domestic product (GDP) was 19.9 per cent and the debt service ratio was 5.2 per cent.

Experts also said India cannot be compared with Sri Lanka that is into severe economic crisis.

The share of central government in short term debt – maturing in a year’s time – is only $7.7 billion out of the total $267 billion.

–IANS

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