Trends & Structure of External Debt in India
Journal Title: Research Journal of Philosophy & Social Sciences - Year 2017, Vol 0, Issue 1
Abstract
The process of trade liberalization and market-oriented economic reform that had started in many developing countries in early 1980s intensified in the 1990s. The reform undertaken varied in ownership and contents in different countries. Broadly speaking, trade policy reforms are a part of external sector reforms in India. The external sector reforms include reforms for external trade in goods and services, reforms for foreign exchange regimes and for determination of foreign exchange rates, reforms for attracting foreign investment, and ways and means of reducing external debt and its servicing. India’s external debt has remained within limits as indicated by external debt indicators. The prudent external debt management policy of the government of India has helped in containing rise in external debt and maintaining a comfortable debt position. The policy continues to focus on monitoring long and short term debt, raising sovereign loans in concessional terms with longer maturation, regulating external commercial borrowings and rationalizing interest rates on non-resident Indian deposits.
Authors and Affiliations
Virendra Kumar Gautam
Keywords
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