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And, despite capital controls that place limits on external borrowings, India's big companies can raise huge amounts of money abroad.
Even traditional weak links like Indonesia and the Philippines have now brought their external borrowings under control.
"While Shire has external borrowings of around £800m, it makes interest payments on intra-company loans worth £10bn to a company it has established in Luxembourg.
Withholding tax on interest payments on external borrowings (ECBs) will be reduced from 20 percent to 5 percent for 3 years; for each of these sectors: power, airlines, roads and bridges, ports and shipyards, affordable housing, fertilizer, and dams.
But for the time being inflation is subdued, interest rates falling, banks hungry for government debt, foreign-exchange reserves ballooning and external borrowings modest.So Mr Singh, who was presenting his first budget since becoming finance minister, faced no really compelling pressure for radical surgery.
cPublic health expenditure consists of recurrent and capital spending from government (central and local) budgets, external borrowings and grants (including donations from international agencies and nongovernmental organizations), and social (or compulsory) health insurance funds.
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As such, external commercial borrowings (ECBs) have taken an increasingly important role.
More than half of these inflows arrived in the final four months of the fiscal year December 2006-March 20077).* External commercial borrowings (ECBs).
Trying to bolster its privatization program, India said yesterday that it would permit companies that take over government stakes in businesses to finance the acquisitions, and the subsequent buybacks of publicly held shares, through external commercial borrowings.
India's balance-of-payments data (available to December 2006) reveal that inflows through external commercial borrowings (ECBs) amounted to an enormous US$12.1bn during April-December 2006, a year-on-year jump of 33%.
We use models of count data to examine the impact of the need for financing, domestic policies, external shocks, and structural and institutional factors on borrowings between 1980 and 1996.
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