Covid-induced lockdowns hit private sector's overseas borrowing

Total external debt of the country rose by 2.1 per cent to $570 billion as of March-end 2021, against $558.4 billion a year ago

Covid-induced lockdowns resulted in muted growth of overseas debt by private players, while the borrowings by the government rose by a higher rate during 2020-21.
 
However, the absolute amount of private sector’s debt continued to remain much higher than the sovereign borrowings as on March 31, 2021. 
 
Total external debt of the country rose by 2.1 per cent to $570 billion as at March end, 2021, against $558.4 billion a year ago. Of the $11.6 billion rise, around $5.2 billion was accounted for by private players and $6.3 billion by the government, showed a status paper on external