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.