India’s External Debt Manages to Stay within Safe Boundary, Affirms Finance Minister Sitharaman

  • India’s external debt to GDP ratio lessened to 18.9% in 2022-23 from 20% a year earlier.
  • Long-term and short-term debts make up 79.4% and 20.6% of the total external debt respectively, offering stability.
  • Despite a slight increase in debt service payments, 92.6% of the external debt is covered by foreign exchange reserves as of March-end 2023.
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