INDIA’S EXTERNAL DEBT A Status Report 2011-12

Though India’s external debt has remained within manageable limits, there are signs of rising external debt burden, especially in view of increasing share of short-term and commercial debt in total external debt, widening current account deficit, implications of falling value of rupee on the corporate
balance sheets and fluid global economic situation

At end-March 2012, India’s external debt stock stood at US$ 345.8 billion, increasing by US$ 39.9 billion (13.0 per cent) over the end-March 2011 level of US$ 305.9 billion. The valuation effect reflecting the appreciation of US dollar in the international market had the effect of reducing the increase in India’s external debt. Excluding the valuation effect, the stock of external debt at end-March 2012 would have increased by US$ 51.8 billion over the level at end-March 2011.

Full report can be downloaded at


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