The Reserve Bank of India (RBI) has released data relating to India’s International Investment Position as it stood at the end of March 2020.
Daily Current Affairs Quiz 2020
Key-Points
The ratio of overseas financial assets to India’s GDP in 2019-20 (at current market prices) moved up to 26.5 per cent in March 2020 as compared to 23.4 per cent a year ago.
The ratio of total claims of non-residents to GDP increased to 40.5 per cent in March 2020 from 39.3 per cent a year ago.
The ratio of net IIP to GDP also improved to (-) 14 per cent at end of March 2020.
In total, the net claims of non-residents on India declined by USD 57.6 billion during the year between April-2019 to March 2020.
The release added that for the quarter (January-March 2020) the net claims of non-residents on India lowered by USD 45.8 billion to USD 379.3 billion.
The decline in net foreign-owned assets in India was due to a reduction of USD 28.1 billion in the non-residents’ assets combined with an increase of USD 17.7 billion in Indian residents’ foreign assets.
