Annual Report

(As at the end of March)

Item

Rupees crore

US $ million

1999P

1998

1997

1999P

1998

1997

1

2

3

4

5

6

7

I.

Multilateral

1,29,725

1,16,900

1,05,066

30,545

29,551

29,218

A.

Government borrowing

1,14,529

1,04,218

94,824

26,967

26,344

26,369

i)

Concessional

78,979

70,560

63,418

18,596

17,836

17,636

a)

IDA

77,725

69,392

62,343

18,301

17,541

17,337

b)

Others

1,254

1,168

1,075

295

295

299

ii)

Non-concessional

35,550

33,658

31,406

8,371

8,508

8,733

a)

IBRD

25,746

25,438

24,354

6,062

6,430

6,772

b)

Others

9,804

8,220

7,052

2,309

2,078

1,961

B.

Non-Government borrowing

15,196

12,682

10,242

3,578

3,207

2,849

i)

Concessional

-

-

-

-

-

-

ii)

Non-concessional

15,196

12,682

10,242

3,578

3,207

2,849

a)

Public sector

10,780

8,763

4,738

2,538

2,216

1,318

IBRD

6,349

5,217

3,341

1,495

1,319

929

Others

4,430

3,546

1,397

1,043

897

389

b)

Financial institutions

2,722

2,171

2,391

641

549

665

IBRD

1,057

1,012

1,618

249

256

450

Others

1,665

1,159

773

392

293

215

c)

Private sector

1,694

1,748

3,113

399

442

866

IBRD

1,312

1,321

1,639

309

334

456

Others

382

427

1,474

90

108

410

II.

Bilateral

74,252

67,164

62,891

17,486

16,982

17,494

A.

Government borrowing

57,045

51,411

49,092

13,432

12,996

13,652

i)

Concessional

56,366

50,574

48,165

13,272

12,784

13,394

ii)

Non-concessional

679

837

927

160

212

258

B.

Non-Government borrowing

17,207

15,753

13,799

4,054

3,986

3,842

i)

Concessional

2,739

1,772

3,409

645

448

948

a)

Public sector

527

194

1,054

124

49

293

b)

Financial institutions

2,213

1,578

2,355

521

399

655

c)

Private sector

-

-

-

-

-

-

ii)

Non-concessional

14,468

13,980

10,390

3,409

3,538

2,894

a)

Public sector

5,262

5,427

5,216

1,240

1,373

1,453

b)

Financial institutions

4,372

4,217

2,436

1,030

1,067

678

c)

Private sector

4,833

4,337

2,738

1,139

1,098

763

III.

International Monetary Fund

1,218

2,622

4,714

287

664

1,313

IV.

Trade Credit

28,448

25,785

21,044

6,703

6,527

5,861

a)

Buyers’ Credit

17,920

15,435

11,184

4,223

3,908

3,116

b)

Suppliers’ Credit

5,343

5,454

4,791

1,259

1,381

1,335

c)

Export credit component of

bilateral Credit

4,901

4,398

4,189

1,154

1,112

1,165

d)

Export Credit for defence purposes

284

498

880

67

126

245

V.

Commercial Borrowing

92,534

70,155

51,454

21,806

17,763

14,335

a)

Commercial bank loans

43,963

39,420

29,968

10,360

9,981

8,349

b)

Securitised borrowings

(incl. IDBs and FCCBs) #

44,900

26,853

17,320

10,581

6,799

4,825

c)

Loans/securitised borrowings,

etc. with multilateral/bilateral

guarantee and IFC(W)

3,391

3,452

3,521

799

874

981

d)

Self liquidating loans

280

430

645

66

109

180

VI.

NRI & FC(B&O) Deposits (above

one year maturity)

52,382

47,050

39,527

12,344

11,913

11,012

VII.

Rupee Debt *

20,078

23,204

26,978

4,731

5,874

7,511

a)

Defence

18,005

20,976

24,590

4,243

5,311

6,847

b)

Civilian +

2,073

2,228

2,388

488

563

664

VIII.

Total long-term debt (I to VII)

3,98,637

3,52,879

311,674

93,902

89,274

86,744

IX.

Short-term debt

18,370

19,929

24,153

4,329

5,046

6,726

a)

NRI deposits (up to

1 year maturity)

9,331

8,657

13,547

2,199

2,192

3,773

b)

Others (trade related) **

9,039

11,272

10,606

2,130

2,854

2,953

X.

Gross Total

4,17,007

3,72,809

3,35,827

98,231

94,320

93,470

Concessional Debt

1,58,162

1,46,110

1,41,970

37,244

36,942

39,489

As % of Total Debt

37.9

39.2

42.3

37.9

39.2

42.2

Short Term Debt

18,370

19,929

24,153

4,329

5,046

6,726

As % of Total Debt

4.4

5.3

7.2

4.4

5.3

7.2

Memo Items :

Debt Indicators :

Debt Stock - GDP Ratio (in per cent)

23.7

23.8

23.8

23.7

23.8

23.8

Debt Service Ratio(%) (For fiscal year)

18.0

19.1

21.2

18.0

19.1

21.2

(Including debt servicing on

non-civilian credits)

P

Provisional.

#

Includes net investment by 100% FII debt funds.

*

Debt owed to Russia denominated in Rupees and converted at current exchange rates, payable in exports.

+

Includes Rupee suppliers’ credit from end-March 1990 onwards.

**

This does not include suppliers’ credit of up to 180 days for which no estimates are available.

Note :

1.

Multilateral loans do not include revaluation of IBRD pooled loans and exchange rate adjustment under IDA loans for pre-1971 credits.

2.

Debt-service ratio from the year1992-93 includes the revised private transfer contra-entry on account of gold and silver imports.