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  • India relies on other countries and international organisations for financial assistance
  • Financial assistance has been in the form of grants and loans
  • Loans are repayable but grants are not
  • Indebtedness among top 15 debtor countries of world, India improved its rank from 3rd in 1991 to 9th in 2001 and fell to 4th in 2010.
  • India’s external debt is ` 17,50,000 crores in March 2012.
  • India has received the external assistance (around 90%) in the form of loans.

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