The external debt of India grew 2.4 per cent or $5.3 billion to $229.9 billion for the financial year ended March 31, the Reserve Bank of India (RBI) said on Tuesday. India, which has an external debt equivalent to 22 per cent of its gross domestic product (GDP), was already the fifth most indebted country in the world in 2007, the RBI said in a statement.
The current account that includes external trade deficit and remittances from overseas, had a deficit of $29.82 billion for last fiscal as compared to a deficit of $17.03 billion in the previous year.
Moreover, the capital account that comprises of components like foreign investment as well as external loans and foreign assistance, had a surplus of $9.15 billion for 2008-09 as compared to $107.94 billion in the year-ago period.
The current account that includes external trade deficit and remittances from overseas, had a deficit of $29.82 billion for last fiscal as compared to a deficit of $17.03 billion in the previous year.
Moreover, the capital account that comprises of components like foreign investment as well as external loans and foreign assistance, had a surplus of $9.15 billion for 2008-09 as compared to $107.94 billion in the year-ago period.
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