External debt rises to $480.2 billion

India's total external debt inched up marginally to $480.2 billion at end-December compared to end-March last year, Finance Ministry said in a report. The total external debt stock at end-December was recorded an increase of $4.9 billion over its level at end-March.

Government (Sovereign) external debt stood at $90.7 billion at end-December 2015 while non-government debt amounted to $389.5 billion. The report said India's external debt has remained within manageable limits as indicated by external debt indicators.

"The Prudent external debt management policy of government of India has helped in containing rise in external debt and maintaining a comfortable external debt position," it said. The "policy continues to focus" on monitoring long- and short-term debt, raising sovereign loans on concessional terms with longer maturities, regulating ECBs, and rationalising interest rates on Non-Resident Indian deposits.