DOLLAR DROP SENDS INDIA'S DEBT LOAD HIGHER

India’s external debt rose 2.1 per cent year-on-year to $570 billion in FY2021, with most of the increase coming from depreciation of the US dollar against the rupee and other major currencies

The external debt-to-GDP ratio rose from 20.6 per cent to 21.1 per cent. Long-term debt increased 3.8 per cent to $468.9 billion, while short-term debt slid 5.4 per cent to $101.1 billion

In long-term debt, external commercial borrowings fell 2.9 per cent, while non-resident Indian deposits jumped 8.7 per cent