The external debt outstanding of the government is estimated to have shot up to Rs 3,39,063 crore in the first nine months of FY12 from Rs 278,455 crore (provisional) in 2010-11, Parliament was informed today.
During the last three years the external debt outstanding has risen due to flow of funds to finance infrastructure and social sector projects and changes in the value of the rupee.
In 2009-10, the external debt outstanding was Rs 249,288 crore. It stood at a provisional level of Rs 3,39,063 crore till December 2011, figures tabled by the minister of state for finance Namo Narain Meena in his written reply to the Lok Sabha showed.
The government has proposed a Public Debt Management Agency (PDMA) Bill, 2012 in the budget session of 2012-13, the Minister said adding the external debt has been manageable so far.
"India's external debt...has remained within manageable limits due to prudent debt management policy that emphasises raising sovereign loans on concessional terms with longer maturities," Meena added.