Weak rupee raises companies' debt by Rs 80,000 crore
The rupee has declined from 44.65 per dollar on March 31, 2011, to below 54 now.
High interest rates at home had prompted several Indian companies last year to borrow abroad to finance business plans.
RBI data show that Indian companies had external commercial borrowings worth $88.8 billion or Rs 3.96 lakh crore by end-March 2011 on their books.
These have now swelled to Rs 4.76 lakh crore in rupee terms. That is a 19 per cent expansion. However, it must be noted that this is a notional increase. These sums will fall due for repayment in instalments over the next few years.
After BJP swept the Rajasthan Assembly polls, BJP's State CM candidate Vasundhara Raje said that the party will work for the development of the State unlike Congress who had deteriorated the State with its bad governance and corruption.
Date 07-12-13, Duration 2:52, Views 28