%20(500%20%C3%97%20280%20px)%20(500%20x%20300%20px)%20(51).png "India’s external debt rises to USD 717.9 bn by December 2024")
Highlights:
a) USD 675.4 billion
b) USD 690.2 billion
c) USD 717.9 billion
d) USD 750.6 billion
- India's external debt rose to USD 717.9 billion by December 2024, a 10.7% increase from December 2023.
- The external debt-to-GDP ratio stood at 19.1%.
- The rise was attributed to the valuation effect due to the US Dollar's appreciation against the Indian Rupee and other currencies.
- Key components included US Dollar-denominated debt (54.8%), Indian Rupee debt (30.6%), and others like Japanese Yen, SDR, and Euro.
- Loans were the largest component, followed by currency deposits, trade credit, and debt securities.
- Debt servicing ratio slightly declined to 6.6% from 6.7% in September 2024.
Question:
Q.1 As per the Quarterly External Debt Report (December 2024), what was India’s total external debt by December 2024?a) USD 675.4 billion
b) USD 690.2 billion
c) USD 717.9 billion
d) USD 750.6 billion
Answer: c) The report released by the Ministry of Finance on March 31, 2025, stated that India’s external debt rose to USD 717.9 billion by December 2024, marking a 10.7% increase from December 2023.
