Indian Economy: Growth -2

[Naresh]

<b>Ravish :</b>

As I see it India’s Foreign Exchange Reserves are USD 143 Billion and India’s External Debt Outstanding is USD 123 Billion.

So it seems India’s <b>Net Foreign Exchange Reserves</b> are about USD 20 Billion.

Now, who owns this Foreign Exchange? Is it fully owned by the Government of India or is it owned by Indian Exporters who have received this Foreign Exchange and would be able to use it, if necessary, to Import Goods via the “Import Entitlement” Route?

Would be grateful if you will kindly explain the <b>mechanics</b> of this <b>Foreign Exchange Reserves</b> being used for India’s Development of Infrastructure as well as for the Social and Economic Uplift of the common Indian.

Thanks in advance

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