CURRENT AFFAIRS

Detailed explanation-1: -The foreign currency reserves is at US$ 573 billion as on 05 August 2022. It was US$ 619 billion as on 25th March 2022 compared to US $579 billion at the end of March 2021 & compared to over US $474 billion at the end of March 2020.

Detailed explanation-2: -UPSC Mains. Q. What is the External debt ratio to GDP of India, as of March 2020? Notes: According to the Union Finance Ministry’ status report on India’s external debt, India’s External debt to GDP ratio increased marginally to 21.1% from 20.6% as at end-March 2020.

Detailed explanation-3: -India’s External Debt as at the end of June 2022 The major developments relating to external debt as at end-June 2022 are presented below. At end-June 2022, India’s external debt was placed at US$ 617.1 billion, recording a decrease of US$ 2.5 billion over its level at end-March 2022 (Table 1).

Detailed explanation-4: -At end-September 2022, India’s external debt was placed at US$ 610.5 billion, recording a decrease of US$ 2.3 billion over its level at end-June 2022 (Table 1). 2. The external debt to GDP ratio stood at 19.2 per cent as at end- September 2022 as compared to 19.3 per cent at end-June 2022 (Table 1).