India’s external debt remains stable; declines to 18.9% of GDP from 20% last year: Finance Ministry
India's external debt decreased to 18.9% of GDP by the end of March 2023, down from 20% the previous year, according to the status report by the Finance Ministry. The report stated that external debt stood at $624.7 billion, showing a marginal growth of 0.9%. Commercial borrowings remained the largest component of external debt, accounting for 89.6% of the total.
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