The correct answer is: A. Commercial borrowings.
Commercial borrowings are loans that a country takes from commercial banks or other financial institutions. They are usually used to finance large projects or to cover a budget deficit. Commercial borrowings are the largest component of external debt because they are relatively easy to obtain and can be used for a variety of purposes.
Multilateral debt is debt that a country owes to international organizations such as the World Bank or the International Monetary Fund. Multilateral debt is usually used to finance development projects or to support economic reforms.
Short-term debt is debt that a country owes that is due to be repaid within one year. Short-term debt is usually used to finance working capital or to cover temporary cash flow problems.
NRI deposits are deposits that are made by non-resident Indians in Indian banks. NRI deposits are a source of foreign exchange for India and they are used to finance a variety of purposes, including investment and trade.
In conclusion, the single largest component of external debt is commercial borrowings. Commercial borrowings are loans that a country takes from commercial banks or other financial institutions. They are usually used to finance large projects or to cover a budget deficit. Commercial borrowings are the largest component of external debt because they are relatively easy to obtain and can be used for a variety of purposes.