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India's external debt stood at $442.3 billion at the end of March 2014, said the Economic Survey for 2014-15 which was tabled in parliament by Finance Minister Arun Jaitley Friday.
"Post 1991 BoP (balance of payment) crisis India's prudent external debt policy and management with a focus on sustainability, solvency and liquidity have helped contain the increase in size of external debt to moderate level," the survey said.
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According to the annual report card on the state of the country's economy, the rise in external debt during the period was due to long term debt particularly NRI (non-resident Indian) deposits and commercial borrowings.
The survey pointed-out that at the end of September, 2014, the long term debt accounted for 81.1% of the total external debt vis-a-vis 79.8% at the end of March, 2014.
While, short term debt accounted for 18.9% of the total external debt vis-à-vis 20.2% at the end of March, 2014.
The survey, which was tabled a day ahead of the union budget showed that the net external commercial borrowing has also increased from $2.4 billion in 2013-14 to $3.4 billion in 2014-15.
