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India sees 12.9% rise in external debt in FY13
July 1, 2013July 1, 2013by In ECONOMY & POLICY

India sees 12.9% rise in external debt in FY13

According to a government data, India's external debt rose 12.9 per cent to $390 billion as at end March 2013 from the previous year. Of the total external debt, external commercial borrowings (ECB) by Indian companies contributed almost a third. Deposits from Non-Resident Indians (NRIs) constituted 18.2 per cent of the external debt. Worryingly, short-term debt constituted about a fourth of the countryÂ’s