External debt rises to $112.1 bn till Dec 2003

India's external debt rose by over six per cent to $112.1 billion mainly due to surge in NRI deposits till December 2003.Though the tenth st...

India’s external debt rose by over six per cent to $112.1 billion mainly due to surge in NRI deposits till December 2003.

Though the tenth status report released today claimed that external debt indicators had ‘‘improved’’ in recent years, it said the cost of servicing the debt had increased owing to redemptions of resurgent India bonds.

The tenth status report analyses India’s external debt situation covering the data from March 1991 to December 2003.

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The country’s external debt stood at $105.3 billion till December 31, 2002, showing a rise of $6.8 billion in one year, the report said. Highlighting ‘‘improvements’’ in external debt indicators, it said foreign debt to GDP ratio had declined to 20.2 pc in 2002-03 from 28.7 pc during 1990-91.

Quoting World Bank’ global development finance data, the report said India improved its ranking among the top 10 debtor countries of the world by moving down to eighth slot from the earlier third position.

'Remain in US, avoid travel': Microsoft, JP Morgan, Amazon advise visa holders to return before Trump’s $100,000 H-1B fee deadline

‘Stay in US, avoid travel’: Firms advise H-1B visa holders to return before fee deadline

World2 hr ago

Microsoft and JP Morgan have warned their employees on H-1B and H-4 visas to return to the US before September 21 due to President Trump's new visa fee rules. Amazon has also advised against international travel. The policy includes a $100,000 annual surcharge on H-1B visas and has caused market fluctuations. It will be in effect for at least 12 months.

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