![India’s external debt surges 6% to $663.8 bn in FY24](https://images.assettype.com/fortuneindia%2F2024-06%2F409ae4ae-2d7c-4782-a872-7f6ff85607f8%2FDebt1.jpg?rect=0,63,612,306&w=300&q=95)
India’s external debt surges 6% to $663.8 bn in FY24
Despite this increase, the external debt-to-GDP ratio fell to 18.7% by the end of March 2024, down from 19% at the end of March 2023.
Despite this increase, the external debt-to-GDP ratio fell to 18.7% by the end of March 2024, down from 19% at the end of March 2023.
The debt-GDP ratio at 18.6%.
External debt grew marginally by 0.9% over the previous year, while external debt as a ratio to GDP declined to 18.9% as of March 2023
Except for sound forex reserve and external debt, other indicators like weak and K-shaped recovery, high fiscal deficits, high trade and current account deficits point to a prolonged crisis.
FinMin says India’s external debt position, both over time and in cross-country comparison, is comfortable and prudently managed