India's external debt at $426 billion in December

-
India's external debt was at $426 billion - including the government's debt of $76.4 billion - at the end of December.

"Government (Sovereign) external debt stood at $76.4 billion, (17.9% of total external debt) at end- December 2013 as against $81.7 billion (20.2%) at end-March 2013," the Finance Ministry said today.

The total external debt of $426 billion showed an increase of $21.1 billion over the March-end level.

"The rise in external debt during the period was due to long-term debt particularly NRI deposits. A sharp increase in NRI deposits reflected the impact of fresh FCNR(B) deposits mobilised under the swap scheme during September-November 2013," it said in the latest quarterly report.

The ministry further said that the long-term debt was $333.3 billion at the end of December, showing an increase of 8.1% over March, 2013 level, while short-term debt declined by 4.1% to $92.7 billion.

"The share of US dollar denominated debt was the highest in external debt stock and stood at 63.6% at end- December 2013, followed by debt denominated in Indian rupee (19.4%), SDR (7.1%), Japanese yen (5.0%) and Euro (3.1%)," it added.

India's foreign exchange reserves provided 69% cover to the total external debt as of December end, as against 72.1% as of March-end, 2013.

The ministry said the debt has remained within manageable limits as indicated by the external debt to GDP ratio of 23.3%, vis-a-vis 21.8% at end-March 2013, and debt service ratio of 5.9% in 2012-13.

"India's external debt has remained within manageable limits due to prudent external debt management policy of the Government of India," it said.

The policy continues to focus on monitoring long and short-term debt, raising sovereign loans on concessional terms with longer maturities, regulating external commercial borrowings through end-use, all-in-cost and maturity restrictions, and rationalising interest rates on Non-Resident Indian deposits, it added.

Business Standard
Thanking you

Regards,

Rajesh Kumar Kathpalia ¤ SMC Global
17,Netaji Subhash Marg,Daryaganj,
New Delhi-110002 Mobile No 9891645052
Email Id: rajesh.ipo@smcindiaonline.com


--
You received this message because you are subscribed to the Google Groups "Product Updates for AMC" group.
To unsubscribe from this group and stop receiving emails from it, send an email to Productupdatesforamc+unsubscribe@googlegroups.com.
For more options, visit https://groups.google.com/d/optout.

Comments

Post a Comment

You are requested to mentioned your full name with email id while commenting.




I would like to request you to join our following services.
It is the smartest way to stay on top of latest Mutual fund, Bonds & IPO News .

 Product Updates on whatsapp


 Product Updates on Email 

                                                   
 Product Updates on Telegram



You will get daily news updates for FREE. 
I also request you to spread the world by referring us to the smartest people you know.  

To share it with your friends, 
just Copy below message it & paste in your group

Subscribe to Our WhatsApp, Email & Telegram Update Service ! https://bit.ly/3ryhxBM
     

Popular Posts

FinMin to give in-principle approval for UTI Mutual Fund IPO soon

-
FinMin to give in-principle approval for UTI Mutual Fund IPO soon Country's oldest fund house UTI Mutual Fund may revive its initial public offer (IPO) plan after Finance Ministry's nod which is expected soon. "There is proposal for IPO of UTI Mutual Fund and the Finance Ministry is looking at it. The Ministry after consideration can give in-principle approval for public offer," sources said. Government has stake in the UTI Mutual Fund through public sector banks and insurance companies. State Bank of India, Punjab National Bank, Bank of Baroda and LIC holding stake in UTI Mutual Fund on behalf of government of India. State Bank of India, Punjab National Bank, Bank of Baroda and LIC jointly owns 74 per cent stake in the fund house while remaining 26 per cent stake is with the US-based investment firm T Rowe Price. In 2008, UTI Asset Management Company deferred its IPO ownin g to uncertain market conditions. The fund house had proposed to sell 4.8 cror...
Read more

Key Trigger Points for Market

-
All eyes in the market will be on Friday's nonfarm payrolls data, which will provide new clues on how well the US economy is recovering and how fast the Federal Reserve might unwind its stimulus programme, which it began to taper last month, and how long it will keep its interest rates low. Before Friday's jobs report, investors will focus on the minutes of the Fed's December policy meeting {for insights on the voting members' stance on the bond-buying programme, known as quantitative easing } ,due out on Jan 8 thursday. India will release November factory output on January 10, the first important data ahead of the Reserve Bank of India's monetary policy review on January 28. Industrial output data, IIP, will be followed by the more important December consumer and wholesale inflation data in the week starting Monday, January 13, amid widespread expectations food prices have substantially eased last month. Thanking you Regards, Rajesh Kumar Kathpalia...
Read more

Reliance Mutual Fund lowest bidder for managing NPS

-
Reliance Mutual Fund lowest bidder for managing NPS MUMBAI: Reliance Mutual Fund has emerged as the lowest bidder among the fund managers qualified to manage funds in National Pension Scheme (NPS) for private sector on behalf of the sector regulator PFRDA. Its bid of 1 paise for every Rs 100 worth of NPS funds was way below the other nine bidders, which included UTIMF, DSP Blackrock MF and HDFC Pension Fund Management, a wholly-owned subsidiary of HDFC Standard Life. Bids by all the other nine entities were between 15 paise and 25 paise per Rs 100 worth of funds, sources said. In the next stage, according to PFRDA's request for proposal for bids that was published earlier, all the bidders who bid higher than Reliance MF, will be asked to match the lowest bid, that is Reliance MF's. The fund managers who finally qualify under this round of bidding will manage NPS funds of between Rs 500 crore and Rs 1,000 crore, sources said. Industry players, however, said that Relianc...
Read more