Government's external liabilities cross $558 billion
Government's external liabilities cross $558 billion

The total external liability on the government has risen to $558.5 billion at the end of March this year. According to the finance ministry, the liability increased due to the spurt in commercial boeing. At the end of March last year, the figure was 543 billion dollars. External liability has risen to 20.6% of GDP at the end of March this year, up from 19.8% in the same period last year.

The status report 2019-20, released by the Finance Ministry, says that the government's debt was down by three percent to $100.9 billion this year as compared to the end of March last year. The main reason for this was that the participation of foreign institutional investment in government securities decreased. According to the report, the non-financial institute was at the forefront of taking loans.

On Saturday, the government said that there was a direct tax collection of Rs 1.92 lakh crore between April and August in the current financial year. This is 31% lower than the corresponding period of the previous financial year. Minister of State for Finance Anurag Thakur told the Lok Sabha that indirect tax collections also declined by 11% to Rs 3.42 lakh crore during April to August. At the same, he also said that no decision has been taken to stop printing of 2,000 rupee notes. In a written reply to a question in the Lok Sabha, Thakur said that in view of the demand, the Government decides on printing of a note after consultation with the Reserve Bank to balance the availability of all notes. 

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