Is India really Poor.....

India for long has been considered as a developing economy....As of 2007, the total outstanding loan on the Indian government was worth 41.57 billion US dollars, among which some portions belonged to global financial organizations and some were meant for bilateral financial assistance. The actual breakdown of the outstanding loan
->World Bank will receive 25.49 billion dollars
->14.05 billion dollars will go to the bilateral assistance

In an nutshell, the external debt condition in India declined from March 2006 to March 2007 when the debt stock increased from US$126.5 billions (2006) to US$ 155.0 billions (2007). In 2007, the accumulation of debt worth US$ 28.2 billions represented an escalation of 22.6%.

I googled to find what's our debt today....According to the financial ministry,India's external debt stood at $222.61 billion up to the end of September '08, down $2.1 billion from the end of the last fiscal year in March. According to a financial ministry report, Long-term debt was at $172.5 billion, while short-term debt stood at $50.1 billion. Private debt accounted for $166 billion (74.6 percent) and government debt amounted to $56.6 billion (25.4 percent) of the total external debt as of end September 2008.

Why does our debt position never becomes favorable...despite the booming economy the debt is on the rise...Why do we borrow???? duh we don't have money that's why we borrow...well think again....

Recently,During the Vibrant Gujarat Global Investors' Summit (VGGIS) 2009, Investors from various parts of the country have pledged several billions of investment across different industrial sectors in Gujarat....How much are we talking about...get ready.... a grand total of $570 Billion....an that too Just for one State!!!!


Larsen & Toubro has pledged Rs 250 billion, The State Bank of India Rs 300 billion, ONGC Rs 300 Billion, Suzlon energy Rs 90 Billion, Bharat Forge Rs 70 billion, Sterling Biotech Ltd Rs 210 billion, Wellspun Group Rs 45 billion, Air Deccan Rs 30 billion, Tata Rs 210 billion, Essar Rs 240 billion, Aditya Birla Group Rs 200 billion, Videocon Rs 120 billion, Adani Group Rs 270 Billion, SRF Group Rs 30 billion, Cellular Operators Association Rs 200 billion

Now if just a handful of Investors have so much money....Is it even remotely possible for our country to repay our debts....