Long-term debt increased by a modest 6.8 per cent to $114 billion till December 2004, according to the latest estimates of finance ministry.
Short-term debt went up by 14 per cent to $6.9 billion till December 2004, the quarterly report 'India's External Debt' said.
The external debt was up by 6.4 per cent ($7.3 billion) to $120.9 billion till December 2004 as against $113.6 billion at the end of September 2004.
While long-term debt was up by 6.1 per cent or $6.5 billion, short-term debt was up by 12.7 per cent or $774 million.
"A large part of the increase, about 57 per cent or $4.1 billion, is explained by the valuation change arising out of depreciation of US dollar against major international currencies," it said.
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