440.6 billion US dollars was the total amount of external debt stock of India at the end of March 2014.
India's national external loan amount reached 440.6 billion at the end of March 2014, which was 7.6% higher than in 2013. As of March 2014, India's long-term external debt was 351.4 billion US$, and short-term external debt was 89.2 billion US$. Compared with the previous year (2013), the long-term debt had increased by 12.4%, and short-term external debts by 7.7%.
Hence, India's total loan amount until 2014 was 440.6 billion US dollars, but not 296 billion dollars.