MINISTER OF THE STATE IN THE MINISTRY OF FINANCE (SHRI NAMO NARAIN MEENA)
(a) As per the latest available data, India`s external debt stood at US$ 334.9 billion at end-December 2011.
(b) At end-December 2011, India`s external debt outstanding from the International Development Association (IDA), International Bank for Reconstruction and Development (IBRD) and the Asian Development Bank (ADB) stood at US$
26.6 billion, US$ 8.9 billion and US$ 7.4 billion respectively. India`s external debt outstanding to IMF stood
at US$ 6.1 billion on account of IMF Special Drawing Rights (SDR) allocations to the country.
(c) Loans from multilateral financial institutions are accessed primarily to finance projects in infrastructure and social sector(s). Details of Government loans taken from major multilateral institutions during the last ten years are contained
in the Table below.
Table: Government Loans from Major Multilateral Institutions (Thousands of US Dollar)
Year Institution
IDA % increase in IBRD % increase in ADB % increase in IDA loans IBRD loans ADB loans
2002-03 665170.6 — 570287.1 - 330273 -
2003-04 627320.4 -5.7 765556 34.2 482146 46.0
2004-05 680176.7 8.4 729140.4 -4.8 414978 -13.9
2005-06 834295 22.7 758210.6 4.0 479510 15.6
2006-07 635225.3 -23.9 869330.3 14.7 833328.7 73.8
2007-08 519819 -18.2 836114.1 -3.8 1050883 26.1
2008-09 712312.3 37.0 613972 -26.6 1270903 20.9
2009-10 753922.7 5.8 848336.8 38.2 1046435 -17.7
2010-11 697156.4 -7.5 2837460 234.5 1270305 21.4
2011-12 978978.8 40.4 620153.3 -78.1 976261.6 -23.1
Note Figures reported for IDA are in thousands of SDR. IDA loans denominated in US Dollars have been converted to SDRs
for the years 2005-06 to 2008-09 using the annual average US Dollar-SDR exchange rate. # Includes the single tranche disbursement of USD 1995 million for Banking Sector Support Loan. Source; Office of the Controller of Aid. Audit and Accounts, Government of India.
(d) & (e) The Government of India has instituted a new set of principles and a Finance Plus criterion to govern the
selection of projects to be posed to multilateral agencies (World Bank, ADB etc.). The basic goal of framing these
principles and the criteria is to maximize access and leverage of Multilateral Financial Institutions` (MFIs`)/Multilateral Development Banks (MDBs`) knowledge base, international experience and familiarity with best practices, making the best use of limited external resources available.
Project implementation and monitoring is done on a regular basis by stakeholders including the Ministry of Finance
and the implementing authority.
India`s external debt on Government Account under External Assistance has remained within manageable limits due to
a prudent debt management policy that emphasises raising sovereign loans on concessional terms with longer maturities.
