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Economic Times
12 hours ago
- Business
- Economic Times
India's foreign debt jumps 10% to $736.3 bn; external debt-to-GDP also rises
India's external debt increased by 10 per cent to USD 736.3 billion at the end of March 2025 compared to USD 668.8 billion in the year-ago period, the Reserve Bank said on a percentage of the GDP, the external debt increased to 19.1 per cent at the end of the recently concluded financial year from 18.5 per cent a year ago, it a year which saw some volatilities in the currency markets, the RBI said the "valuation effect" due to the appreciation of the US dollar against the rupee and other currencies amounted to USD 5.3 billion, while if one were to exclude the valuation effect, external debt would have increased by USD 72.9 billion instead of USD 67.5 billion in the overall debt included USD 261.7 billion of loans taken by non-financial corporations, USD 168.4 billion by the government and USD 202.1 billion by deposit-taking corporations, excluding the central bank, the RBI said. At March-end 2025, long-term debt (with an original maturity of above one year) was USD 601.9 billion, an increase of USD 60.6 billion over the year. The share of short-term debt (with original maturity of up to one year) in total external debt declined to 18.3 per cent at March-end 2025 from 19.1 per cent a year ago, but the ratio of short-term debt to foreign exchange reserves increased to 20.1 per cent in FY25 against 19.7 per cent at the end of March dollar-denominated debt remained the largest component of India's external debt with a share of 54.2 per cent at March-end 2025, followed by debt denominated in the rupee (31.1 per cent), yen (6.2 per cent), SDR2 (4.6 per cent), and euro (3.2 per cent), the RBI said. Loans remained the largest component of external debt, with a share of 34 per cent, followed by currency and deposits (22.8 per cent), trade credit and advances (17.8 per cent) and debt securities (17.7 per cent).
Time of India
13 hours ago
- Business
- Time of India
India's foreign debt jumps 10% to $736.3 bn; external debt-to-GDP also rises
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel India's external debt increased by 10 per cent to USD 736.3 billion at the end of March 2025 compared to USD 668.8 billion in the year-ago period, the Reserve Bank said on a percentage of the GDP, the external debt increased to 19.1 per cent at the end of the recently concluded financial year from 18.5 per cent a year ago, it a year which saw some volatilities in the currency markets, the RBI said the "valuation effect" due to the appreciation of the US dollar against the rupee and other currencies amounted to USD 5.3 billion, while if one were to exclude the valuation effect, external debt would have increased by USD 72.9 billion instead of USD 67.5 billion in the overall debt included USD 261.7 billion of loans taken by non-financial corporations, USD 168.4 billion by the government and USD 202.1 billion by deposit-taking corporations, excluding the central bank, the RBI March-end 2025, long-term debt (with an original maturity of above one year) was USD 601.9 billion, an increase of USD 60.6 billion over the share of short-term debt (with original maturity of up to one year) in total external debt declined to 18.3 per cent at March-end 2025 from 19.1 per cent a year ago, but the ratio of short-term debt to foreign exchange reserves increased to 20.1 per cent in FY25 against 19.7 per cent at the end of March dollar-denominated debt remained the largest component of India's external debt with a share of 54.2 per cent at March-end 2025, followed by debt denominated in the rupee (31.1 per cent), yen (6.2 per cent), SDR2 (4.6 per cent), and euro (3.2 per cent), the RBI remained the largest component of external debt, with a share of 34 per cent, followed by currency and deposits (22.8 per cent), trade credit and advances (17.8 per cent) and debt securities (17.7 per cent).
The Print
13 hours ago
- Business
- The Print
India's foreign debt jumps 10 pc to USD 736.3 bn; external debt-to-GDP also rises
In a year which saw some volatilities in the currency markets, the RBI said the 'valuation effect' due to the appreciation of the US dollar against the rupee and other currencies amounted to USD 5.3 billion, while if one were to exclude the valuation effect, external debt would have increased by USD 72.9 billion instead of USD 67.5 billion in the year. As a percentage of the GDP, the external debt increased to 19.1 per cent at the end of the recently concluded financial year from 18.5 per cent a year ago, it added. Mumbai, Jun 27 (PTI) India's external debt increased by 10 per cent to USD 736.3 billion at the end of March 2025 compared to USD 668.8 billion in the year-ago period, the Reserve Bank said on Friday. The overall debt included USD 261.7 billion of loans taken by non-financial corporations, USD 168.4 billion by the government and USD 202.1 billion by deposit-taking corporations, excluding the central bank, the RBI said. At March-end 2025, long-term debt (with an original maturity of above one year) was USD 601.9 billion, an increase of USD 60.6 billion over the year. The share of short-term debt (with original maturity of up to one year) in total external debt declined to 18.3 per cent at March-end 2025 from 19.1 per cent a year ago, but the ratio of short-term debt to foreign exchange reserves increased to 20.1 per cent in FY25 against 19.7 per cent at the end of March 2024. US dollar-denominated debt remained the largest component of India's external debt with a share of 54.2 per cent at March-end 2025, followed by debt denominated in the rupee (31.1 per cent), yen (6.2 per cent), SDR2 (4.6 per cent), and euro (3.2 per cent), the RBI said. Loans remained the largest component of external debt, with a share of 34 per cent, followed by currency and deposits (22.8 per cent), trade credit and advances (17.8 per cent) and debt securities (17.7 per cent). PTI AA BAL BAL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
18 hours ago
- Business
- Time of India
Finance Minister nudges PSU banks to raise credit growth, maintain profitability
Finance Minister Nirmala Sitharaman on Friday asked public sector banks (PSBs) to take advantage of Reserve Bank's jumbo 50 basis points rate cut to increase lending toward productive sectors of the economy. During a meeting to review financial performance of PSBs, Sitharaman asked their chiefs to maintain profitability momentum in FY26, sources said. Cumulative profit of 12 PSBs rose to record Rs 1.78 lakh crore in FY25, registering a growth of 26 per cent over the previous year. The year-on-year increase in profit in absolute terms was about Rs 37,100 crore in FY25. According to sources, the minister expected that PSBs credit growth should improve post 50-bps rate cut by RBI. Banks were also directed to try maintain the FY25 credit growth level or increase during the current financial year. On June 6, the RBI's six-member monetary policy committee, headed by Governor Sanjay Malhotra lowered the benchmark repurchase or repo rate by 50 basis points to 5.5 per cent. Live Events It also slashed the cash reserve ratio by 100 basis points to 3 per cent in tranches that will add Rs 2.5 lakh crore to already surplus liquidity in the banking system. She also emphasised that banks should also onboard more customers on government's schemes in a bid to increase financial inclusion. Comprehensive review of various segments and progress in government schemes including Kisan Credit Card, PM Mudra and three social security schemes -- Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Suraksha Bima Yojana and Atal Pension Yojana (APY) were done during the meeting. Besides, the banks were also advised to work on ways to garner more low cost deposits. On the asset quality side, the finance minister appreciated the low level of non-performing assets in the banking sector and exuded confidence that the top management will ensure to keep it at that level.
AU Financial Review
a day ago
- Business
- AU Financial Review
Lowe backs GST, company tax shake-up
Former Reserve Bank governor Philip Lowe has urged the Albanese government to consider raising and broadening the GST and lowering company taxes as part of a broader overhaul of the taxation system that ensures future generations enjoy higher living standards than their parents. In a wide-ranging interview with AFR Weekend that also touched on housing, monetary policy and artificial intelligence, Lowe said lifting the 10 per cent GST while encouraging greater investment through cuts to income and company taxes could be 'a sensible reform'.
