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India's external debt rose marginally to USD 624.7 billion annually at end-March 2023, although the debt-GDP ratio declined, as per a Reserve Bank data released on Friday. The external debt rose by USD 5.6 billion from USD 619.1 billion at end-March 2022.
As per the RBI data, more people are borrowing money to buy SUVs than houses. Vehicle loans have increased by 137% in three years as against a 47% rise in home loans, which have seen a decline in share from 52% pre-pandemic. Analysts believe the trend may continue due to the ticket size and aspirations of Indians.
India's current account deficit narrowed to $1.3 billion or 0.2 per cent of GDP in the January-March quarter of FY23, mainly due to moderation in the
RBI: The net profit margin of the manufacturing sector declined to 8.7 percent in 2022-23, against 10.6 percent in 2021-22
Within the household sector, individuals accounted for 52.8 per cent share in total deposits. More than a half of households’ deposits during 2022-23 came from five states, namely, Maharashtra, Uttar Pradesh, NCT of Delhi, Karnataka and West Bengal.