India's external debt and govt. finances in check

For the week ended January 2, 2016:
  • India’s external debt numbers for up to September 2015 show a debt situation, which is largely in check and even improving. While the total stock of debt continues to increase, the pace of increase has slowed down.
  • The centre’s finances also continued to look in a much better position in November compared to last year. Fiscal deficit as a proportion of budget estimates is improved despite higher proportion of expenditure, on account of improving receipts, particularly tax revenues. 
  • This is of particular note at a time when other real indicators are still showing a mixed picture. Area sown under rabi crop showed further improvement for the week ended January 1, 2016; while the foreign tourist arrivals in November also increased at a faster clip than that for 2015-16 so far as well.
  • However, core sector growth disappoints, declining in November. Credit growth also lost pace further in November, with industry showing the lowest growth rates.
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