Table 3 of India's External Debt Report

Table 3 of the report classifies external borrowings on the basis of borrowers, that is, government and non-government

RBI Notifications

:rbi: India’s External Debt as the end of September 2018, (released on Dec 31, 2018)
https://rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=47442

Understanding India’s External Debt (at the end of March 2019)

Table 1. India’s External Debt (at the end of March 2019)

Table 4. India’s External Debt (at the end of March 2019)

Table 3

A. Sovereign Debt

Sovereign debt is the debt that is issued by the Union Government of India and state governments. It includes money borrowed for assistance, defence debt, investment made by foreigners -FPIs, foreign central banks, international institutions and IMF - in government securities/treasury bills.

It is further categorised into two groups:

I. External Debt on Government Account under External Assistance

It is the loans and grants, received from friendly foreign countries . India receives bilateral development assistance from various countries and multilateral assistance from various institutions.

Receipts Budget, 2019-2020

II. Other government external debt

This includes defence debt, investment in Treasury Bills/ government securities by Foreign Portfolio Investors, foreign central banks and international institutions and IMF

B. Non-Sovereign/Non Government Debt

All other forms of external debt are included under this head.

  • At end of March 2018 PR, India’s total external debt stood at $529.3 billion.

  • India’s GDP for 2017-18 as after 1st Revised Estimate of National Income and Expenditures on GDP, 2017-18 ( At Current Prices) stood at Rs 1,70,95,005 crore.

  • RBI’s reference rate as per FBIL for last trading day of March 2018 was 65.04
    https://www.fbil.org.in/securities?op=referencerate&mq=o

  • Thus, the ratio of total external debt as a % of GDP for March 2018 PR stood at

    \frac{(529.3 \times 65.04 \times 100)}{17095005} = 20.13%, rounded off to 20.1%

  • At end of March 2019, India’s total external Sovereign debt stood at $103.8 billion.

  • India’s GDP for 2018-2019 as per Provisional Estimates of National Income and Expenditures on GDP, 2018-19 ( At Current Prices) stood at Rs 19,010,164 crore.
    http://www.mospi.gov.in/

  • RBI’s reference rate as per FBIL for last trading day of March 2019 is 69.17
    https://www.fbil.org.in/securities?op=referencerate&mq=o

  • Thus, the ratio of Sovereign debt to total external for March 2019 P stood at

    \frac{(103.8 \times 69.17 \times 100)}{19010164} = 3.77%, rounded off to 3.8%