(a) the quantum of foreign debts as on 31 July, 2000 on India along with details of the countries and institutions from whom these loans have been taken;
(b) the details of debt during each of the last three years;
(C) the amount of interest being paid by the Government on foreign debts every year; and
(d) the concrete steps being taken by the Government to reduce the debt burden of the country?
Minister of State in the Ministry of Finance (Shri Balasaheb Vikhe Patil)
(a)&(b) As per Annexure attached.
(c) The amount of interest paid on the Government Account from 1997-98 to 1999-2000 are as follows:
Interest paid 97-98 98-99 99-2000 (in US $ billion) 1.10 1.04 1.04(d) The improvement in India`s External Debt position since early 1990`s is due to a conscious debt management policy followed by Government that focuses on high growth rate of exports, keeping the maturity structure as well as the total commercial debt under manageable limits, limiting short-term debt and encouraging non-debt creating flows.
As on As on As on 31.3.1998 31-3-1999 31-3-2000
1. Multilateral: 29.55 30.54 31.32 Of which+ IDA 17.54 18.30 18.70 IBRD 8.34 8.11 8.03 ADB 3.15 3.63 4.09
2.Bilateral: 16.97 17.46 18.06 of which+ Japan 6.93 8.05 9.59 Germany 3.45 3.46 2.99 USA 1.69 1.57 1.44 France 1.01 0.98 0.84
3. IMF: 0.66 0.29 0.03
4. Export Credit 6.53 6.89 6.65
5. Commercial Borrowings: 16.99 21.04 19.37 6. NRI & FC (B&O) Deposits: 11.91 12.34 14.58
7 Rupee Debt: 5.87 4.73 4.39
8. Short Terms Debt: 5.05 4.39 4.04
TOTAL: 93.53 97.68 98.44
+ On Government and non-Government Account.