DEVELOPMENT AND DISPLACEMENT-Airy-Fairy Policies

crore, foreign debt was Rs 2,82,103 crore or 96.9 per cent. Of the balance, Rs 6,403 crore comprised FDI and portfolio investment of the corporate sector, Rs 1,312 crore represented vostro accounts of banks and Rs 1,170 crore were liabilities of insurance companies in the form of LIC's actuarial reserve value payable to non-residents and reinsurance business and outstanding claims of the GIC. Official liabilities constituted Rs 1,70,485 crore or 58.6 per cent of aggregate foreign liabilities of Rs 2,90,988 crore (including non-civilian debt), the balance being accounted for by the corporate sector (Rs 67,257 crore or 23.1 percent), the banking sector (Rs 52,076 crore or 17.9 per cent) and the insurance sector (Rs 1,170 crore or 0.4 per cent).