India’s Balance of PaymentsConcepts, Compilation and Recent Scenario
1950-51 to 2003-04
EPW Research Foundation*February 2005
* An original note on the subject was published in the Economic and Political Weekly (EPW) of November13-20, 1993. The same has been thoroughly revised and updated by Ms. Shilpa Jain for publication onthe website www.epwrf.res.in Mrs. Rema K. Nair undertook page-making.
Contents
Section No. Title Page No.
List of Exhibits and Appendices i
I Key Concepts 1Current and Capital AccountsMerchandise on FOB/ CIF basisInvisiblesCapital Account
II Sources of BOP Data 5Difference between RBI Balance of payments data and customs dataApparent gaps in BOP data
III An Overview of India’s Balance of Payments 10
Notes 12
List of Text Tables
Text Table
1: India’s Foreign Trade:A Comparison of DGCI & S and RBI Data 6
2: Foreign Exchange Reserves:1950-51 to 2003-04 14
3: Financing of Current Account Deficits:1950-51 to 2003-04 15
4: Balance of Payments-Selected Indicators:1950-51 to 2001-02 17
List of Exhibits and AppendicesTitle Page No.
ExhibitsExhibit
A: Estimation of Invisible Accounts -A Comparison of RBI Classification with the IMF Classification (IMF BOP MANUAL) 7
B: Estimation of Invisible Accounts -A Comparison of RBI Classification with the IMF Classification (IMF BOP Yearbook) 8
AppendicesAppendix
1: Balance of Payments:1950-51 to 1989-90 (Rs. Crore / Dollar Million) 191990-91 to 2003-04 (Rs. Crore) 231990-91 to 2003-04 (US Dollar Million) 26
2: Break-up of Invisibles on Current Account 29(A) Travel Account 35
(B) Transportation Account :(i) 1956-57 to 1989-90 (Rs. Crore) 36(ii) 1990-91 to 2001-02 (Rs. Crore/ Dollar Million) 38
(C) Insurance Account :(i) 1956-57 to 1996-97 (Rs. Crore) 40(ii) 1997-98 to 2001-02 (Rs. Crore/ Dollar Million) 41
(D) Investment Income Account :(i) 1956-57 to 1996-97 (Rs. Crore) 42(ii) 1997-98 to 2001-02 (Rs. Crore/ Dollar Million) 45
(E) Government not included elsewhere Account :(i) 1956-57 to 1989-90 (Rs. Crore) 46(ii) 1990-91 to 2001-02 (Rs. Crore/ Dollar Million) 47
(F) Miscellaneous Account :(i) 1956-57 to 1989-90 (Rs. Crore) 48(ii) 1990-91 to 2001-02 (Rs. Crore/ Dollar Million) 50
(G) Official Transfer Payments Account :(i) 1956-57 to 1989-90 (Rs. Crore) 52(ii) 1990-91 to 2001-02 (Rs. Crore/ Dollar Million) 54
(H) Private Transfer Payments Account :(i) 1956-57 to 1989-90 (Rs. Crore) 55(ii) 1990-91 to 2001-02 (Rs. Crore/ Dollar Million) 57
3: Foreign Inevestment(A),(B) Private Foreign Investment 58
(C) Foreign Investment Inflows 59
4: NRI DepositsA Inflows under FCNR and NR(E)RA Accounts 60NRI Deposits Outstanding 61
5: External Transactions as per CSO’s 62National Account Statistics
India’s Balance of PaymentsConcepts, Compilation and Recent Scenario: 1950-51 to 2003-04
IKey Concepts
Abalance of payments statement is essentially a double entry system of record for a given periodof an economy’s two-way international transactions in the form of goods and services, receiptsand payments of incomes, transfers without quid pro quo and financial claims and liabilities. With
a view to standardising the concepts and definitions, classificatory schemes and conventions applied inthe compilation of balance of payment statistics by various countries, the International Monetary Fund (IMF)has prescribed a Balance of Payment Manual.1 India, as in the case of other member countries of the IMF,has adopted the same as a conceptual and methodological basis for compiling her balance of payment account.However, there exist some departures from the IMF framework due to the constraints of data availabilityand to take account of the country’s institutional structure.2
Principally, the balance of payment (BOP) account records transactions between a resident economic entityand the rest of the world. Though the resident status of an individual is conceived in terms of the permanenceof interest within a given territory, the rule of thumb adopted for recognition of such permanence is a stayof one year or more. Tourist and commercial travellers, employees of foreign governments and internationalbodies on a mission of less than one year and seasonal workers from foreign countries, are all consideredas residents of the economy in which they normally live. Major exceptions to this are the official diplomaticand consular representatives, members of armed forces and other government personnel of a foreign countrystationed in a given country who are treated (together with their dependents) as non-residents for the countryof their posting or as residents of the country they represent.
Current and Capital Accounts
In BOP accounting, transactions relating to goods, services and income, and current transfers constitutethe current account, while those relating to claims and liabilities of a financial nature and capital transfersand acquisition or disposals of non-produced, non-financial assets which go to finance the deficit on currentaccount, or to absorb its surplus, form the capital account. The sum of these current and capital accounttransactions together constitutes the basic balance on BOP and theoretically it should be finally roundedup. The double-entry accounting should be closed with the help of: a) purchase and repurchase from theIMF essentially as a multilateral agency for the countries’ BOP support, b) allocation of the IMF’s SpecialDrawing Rights (SDRs) intended to supplement the relatively inadequate international reserves and alsoto serve as a principle reserve asset of the international monetary system, and finally, c) the build-up ordrawdown of the country’s own reserve assets. Incidentally, the objective of SDRs serving as a principalreserve asset was scuttled in the midst of the controversy regarding the justification or otherwise for additionalreserve assets.
The above is the theoretical position; in reality, due to myriad discrepancies arising from differencesin timing, coverage, valuation and possible inaccurate estimation (which also includes clandestine capitalflight through various devices), the credit side of the double entry accounting does not exactly match thesum of all debit entries. Therefore, the balancing act is performed by an item called “errors and omissions”-a negative sign in it implying an overstatement of receipts and an understatement of payments, generallya combination of both, and the positive sign signifying the reverse. It is very often found that in yearsof large depreciation of the rupee, the ‘errors and omissions’ remain negative.
Merchandise on FOB / CIF basis
The transactions relating to goods, services and income, constituting the current account on the BOP,are functionally classified in two broad categories: merchandise and invisibles. As per the IMF Manual,imports and exports of goods (merchandise) should be presented under free-on-board (f.o.b. basis), thatis, without including freight and insurance costs. Such freight and insurance paid to foreign shipping andair carriers should be treated as an outgo (debit) under the invisible sub-items, transportation and insuranceservices, while that earned by domestic carriers has to be treated as receipts (credit) under the same sub-items. However, the BOP data put out by the Indian authorities (Reserve Bank of India as well as theGovernment of India) make a major departure from the IMF manual in that while they present exportson an FOB basis they set out imports on CIF (cost, insurance and freight) basis on the ground of the natureof data availability, that is, while exports declarations are uniformally on f.o.b. basis, import invoices donot distinguish between the cost of merchandise and freight and insurance. Incidentally, it is found thatmany other countries conduct periodical sample studies of import invoices, which facilitate such a distinctionand estimate the proportion of freight, insurance and other distributive services in the total CIF value ofimports and thus apply the results for deriving the f.o.b. values of total imports also. Besides, the IMFin its Year Book on Balance of Payment Statistics, presenting uniform BoP data for its member countries,publishes India’s BOP with merchandise imports also on a f.o.b. basis.3 The IMF apparently has a methodof using global adjustment to the import data for converting c.i.f. into f.o.b. Interestingly, the RBI did conductsuch surveys in the past for converting into f.o.b. basis those export invoices which were on c.i.f. or c.i.basis. Apparently a 1948 survey, which indicated that freight and insurance elements constituted of aboutfour per cent of the c.i.f. values of exports, is broadly considered valid for quite some years as per subsequentsurveys.4 Though, since October 1983 the relevant forms specify the f.o.b. value of exports the above surveyresults are required to be used to estimate the freight and insurance components (i.e., under invisbles) nowon the given basis of fob value.
Foreign trade data relate to merchandise trade through all the recognized seaport, airports, land customsstations and inland container depots of India. Data on exports, which include re-exports, relate to fob valuesand imports relate to c.i.f. values. Exports are based on the general system of recording, according to whichre-exports relate to Indian merchandise previously imported into India.
The item Non-Monetary Gold Movement has been deleted from invisibles in conformity with IMF Manualon BOP (4th edition) from May 1993 onwards; these entries have been included under merchandise. Similarly,in accordance with the provisions of IMF Manual on BOP (5th edition), gold purchased from the governmentof India by RBI has been excluded from the BOP statistics. Data from the earlier period have been amendedby making suitable adjustments in ‘other capital receipts’ and ‘foreign exchange reserves’. Imports relateto foreign merchandise whether intended for home consumption, bonding or re-exploration. Trade balanceis defined as the difference between total exports and total imports (both merchandise).
Invisibles
As distinguished from the ‘visibles’ (merchandise) transactions, the invisibles account comprises costsof services, income and transfer payments (ie, payments and remittances unrequited or without quid proquo or without any repayment obligations). The IMF manual classifies non-merchandise current accounttransactions into as many as thirteen items and also obtains from the reporting country authorities andpublishes (supplemented by its own estimates) in its BOP yearbook fairly disaggregated information ona number of countries. Exhibits I(A) and I(B) provide listings of current account transactions as per theIMF Manual and as per the BOP yearbook, respectively; these also carry alongside the Indian system ofclassifications. It is true that many other countries do not possess such detailed data and hence they clubcertain items together and publish data on fewer heads. In the regular dissemination of BOP data, the Indianauthorities now provide the ‘invisibles’ account data under seven broad heads.
Within the above broad heads, however, the Reserve Bank of India has now begun to provide many moredetails, which may be seen in disaggregated data presented in Appendix Tables 2(A) to 2(H). With a view
Balance of Payments 2
to disseminating more disaggregated data on India’s trade and services, the RBI has published such statisticsseparately for the period 1956-57 to 1998-99 in its monthly bulletins of March and April 1992 and in itscomprehensive publication Balance of Payments: 1948-49 to 1988-89 (July 1993); this practice has beencontinued thereafter on an annual basis. Apart from some broad details presented in Appendix Table 2A,attempts have been made to cull out more disaggregated data on invisibles from the above studies whichare presented in eight separate sets in Appendix Tables 2(A) to 2(H). As may be observed from thesedisaggregated data, India has now begun to provide many more details; earlier income consisted only ofinvestment income whereas now one more sub-category ‘compensation of employees’ is added, in accordancewith the IMF’s Balance of Payments Manual (5th edition), 1993, under the head ‘income’ with effect from1997-98. Earlier, the Indian practice was to record ‘compensation of employees’ under the head ‘services-miscellaneous’. Since 1990-91, the value of defense related imports are recorded under imports (merchandisedebit) with credits financing such imports shown under “loans (external commercial borrowings) to India”in the capital account. Based on the recommendations of a high-level committee in their Reports of PolicyGroup and Task Force on External Debt Statistics of India, 1992, interest payments on defense debt owedto the general currency area (GCA) are recorded under investment income (debit) and principal repaymentsunder debit to “Loans (external commercial borrowings) to India”.
The IMF classifies transfers as ‘current transfers’ and ‘capital transfers’. Transfers basically representreceipts and payments without quid pro quo. Current transfers include those of general government (eg,current international cooperation between different governments, payments of current taxes on income andwealth, etc.) and other transfers (eg, workers remittances, premiums-less service charges), and claims onnon-life insurance. Definitionally, capital transfers should include:
(i) Transfer of ownership of fixed asset or(ii) The forgiveness of a liability by a creditor when no counter-part is received in return, or(iii) A transfer of cash when linked to, or conditional on, the acquisition or disposal of a fixed asset
(eg investment grant) by one or both parties to the transaction.Finally, capital transfer should result in a commensurate change in the stocks of assets of one or both
parties to the transaction. Due to non-availability of data, the RBI is unable to provide such segregationinto current and capital transfers; instead it has segregated transfers into private and official. The term‘transfers’ is used in India’s Balance of Payments in the same sense as unrequited transfers. Unrequitedtransactions are transations such as gifts, grants, taxes, etc. where one transactor provides something ofeconomic value to another but doesnot receive a quid pro quo on which economic value can be assignedin return. The economic value that is lacking on one side has to be balanced by an entry which is referredto as unrequited transfers.
Government not included elsewhere represents remittances towards maintenances of foreign embassies,diplomatic missions and international/ regional institutions.
Miscellaneous services encompass communication services, software services, construction services,royalties, copyrights and licence fees, news agency services and others. Because of the emergence of softwareservices as a highly focused and dynamic area of export activity in the 1990s, it is shown as a separatesub-item under ‘Miscellaneous’ since 2000-01.
Investment incometransactions are in the form of interest, dividend, profit and others for servicing ofcapital transactions. Investment income receipts comprise interest received on loans to non-residents,dividend/profit received by Indians on foreign investments, reinvested earnings of Indian FDI companiesabroad, interest received on debentures, floating rate notes (FRNs), commercial papers (CPs), fixed depositsand funds held abroad by ADs out of foreign currency loans/export proceeds, payments of taxes by non-residents/refunds of taxes by foreign governments and interest/discount earnings on RBI holding of foreignassets. Investment income payments comprise payment of interest on non-received deposits, payment ofinterest on loans from non- residents, payment of dividend/profit to non-resident shareholders, reinvestedearnings of the FDI companies, payments of interest on debentures, FRNs, CPs, fixed deposits, governmentsecurities, charges on SDRs and others.
Undistributed income or retained earnings of an enterprise held by non-residents are conceived of as apayment of income to the foreign investor and simultaneous reinvestment of that income by the foreign
3 Balance of Payments
investor in the same resident direct investment enterprise. Such income is recorded as a component of foreigninvestment income payment in the current account matched by the flow of foreign investment in the capitalaccount.
Even so, while the Indian classification of current transactions is found to be fairly comprehensive, someloss of information in it relating to the following items is noticed:
(i) As explained earlier, data on insurance and freight on imports, which would constitute partof the items transportation and insurance, are in fact included under merchandise.
(ii) Under the Indian classification, transactions relating to the life insurance business of the LifeInsurance Corporation of India or those relating to the general insurance business of the Indiangeneral insurance companies abroad for domestic hazards in those countries are clubbed underthe item insurance which also covers the insurance of merchandise trade. The IMF classificationplaces this under a separate item called ‘other goods, services and income’.
Expenditures of diplomatic missions in India or those of Indian missions abroad are not presented separatelyin the Indian data, whereas the IMF publishes such data under the head ‘other foreign official, NIE’ evenfor India separately.
Capital Account
Though the IMF manual distinguishes a large number of items under the capital account, India, as inthe case of many other countries, has dovetailed the accounting classification to fit into its own institutionalstructure and analytical needs. Until the end of the 1980s, key sectors distinguished under the capital accountwere: (i) private capital, (ii) banking capital, and (iii) official capital.
Private capital was sub-divided into (i) long-term and (ii) short-term, with loans of original maturity ofone year or less constituting the relevant dividing line. Long-term private capital, as published in the regularBOP data, covered foreign investments (both direct and portfolio), long-term loans, foreign currency deposits(FCNR and NRE) and an estimated portion of the unclassified receipts allocated to capital account. Bankingcapital essentially covered movements in the external financial assets and liabilities of commercial andco-operative banks authorised to deal in foreign exchange. Official capital transactions, other than thosewith the IMF and movements in RBI’s holdings of foreign currency assets and monetary gold (SDRs areheld by the government), were classified into (i) loans, (ii) amortisation, and (iii) miscellaneous receiptsand payments. In the data base created here, statistical series on BOP for the period 1950-51 to 1989-90are in this format (See Appendix Table 1A). Independent data published by the RBI give disaggregationof FDI by approval categories and that of portfolio investments by types of flow. In FDI, there are threesources of approvals: government [Secretariat of Industrial Approvals (SIA) and Foreign InvestmentPromotion Board (FIPB)]; RBI; and NRI investments (See Appendix Table 3B). Likewise, RBI puts outdata on NRI deposits under different categories of deposits (Appendix Tables 4A and 4B).
For the subsequent period, from 1990-91 onwards, the classification adopted is as follows:(i) Foreign investment, which is bifurcated into Foreign Direct Investment (FDI) and portfolio
investment. The FDI in India could be in the form of inflow of investment (credit) and outflowin the form of disinvestments (debit) or abroad in the reverse manner. The portfolio investment5,on the other had, comes in the form of Foreign Institutional Investors (FIIs), offshore fundsand Global Depository Receipts (GDRs) and American Depository Receipts (ADRs). The dataon acquisition of shares (acquisition of shares of Indian companies by non-residents under section5 of FEMA, 1999) has been included as part of foreign direct investment since January 1996.
(ii) Loans, which are further classified into external assistance, medium and long-term commercialborrowings and short-term borrowings, with loans of original maturity of one-year or lessconstituting the relevant dividing line. The principal repayment of the defense debt to the GeneralCurrency Area (GCA) is shown under the debit to loans (external commercial borrowing toIndia) for the general currency area since 1990-91.
(iii) Banking capital comprises external assets and liabilities of commercial and government banksauthorized to deal in foreign exchange, and movement in balance of foreign central banks and
Balance of Payments 4
international institutions like, World Bank, IDA, ADB and IFC maintained with RBI. Animportant component of banking capital is non-resident (NRI) deposits.
(iv) Rupee debt service contains interest payment on, and principal re-payment of, debt for theerstwhile rupee payments area (RPA). (This is done based on the recommendation of high-levelcommittee on balance of payments.)
(v) Other capital is a residual item and broadly includes delayed exports receipts, funds raised andheld abroad by Indian corporate, India’s subscriptions to international institutions and quotapayments to IMF. Delayed export receipts essentially arises from the leads and lags betweenthe physical shipment of goods recorded by the customs and receipt of funds through bankingchannel. It also includes rupee value of gold acquisition by the RBI (monetization of gold).
(vi) Movement in Reserves comprises changes in the foreign currency assets held by the RBI andSDR balances held by the government of India. These are recorded after excluding changeson account of valuation. Valuation changes arise because foreign currency assets are expressedin US dollar terms and they include the effect of appreciation/depreciation of non-US currencies(such as Euro, Sterling, Yen and others) held in reserves. Furthermore, this item does not includereserve position with IMF.
As per the earlier classification, institutional character of the Indian creditor/debtor formed the dividingline for capital account transaction, whereas now it is the functional nature of the capital transaction thatdominates the classification.
FDI to and by India up to 1999-2000 comprised mainly equity capital. In line with international bestpractices, the coverage of FDI has been expanded since 2000-01 to include, besides equity capital, reinvestedearnings (retained earnings of FDI companies) and ‘other direct capital’ (inter-capital debt transactionsbetween related entities). Data on equity capital include equity of unincorporated bodies. Reinvested earningsfor the latest year (2003-04) are estimated as average of the previous two years as these data are availablewith time-lag of a year. In view of the above revision, FDI data are not comparable with similar data forthe previous years (Appendix Table 3C). In terms of standard practise of BOP compilation, the above revisionof FDI data would not affect India’s overall position as the accretion to the foreign exchange reserves wouldnot undergo any change. The composition of BOP, however, would undergo changes. These changes relateto investment income, external commercial borrowings and ‘errors and omissions’. In case of reinvestedearnings, there is a contra-entry (payments) of equal magnitude under investment income in the currentaccount. ‘Other Capital’ reported as part of FDI inflow has been carved out from the figure reported underexternal commercial borrowings by the same amount. ‘Other Capital’ by Indian companies abroad and equitycapital of unincorporated entities have been adjusted against ‘errors and omissions’ for 2000-01 and 2001-02.
IISources of BOP Data
The compilation of BOP data are considerably facilitated by two important prescriptions under foreignexchange regulations, which are a universal feature in the governance of transactions in foreign exchange,and which therefore have continued in India even after external sector liberalisation and replacement ofthe Foreign Exchange Regulation Act (FERA), 1973 by the Foreign Exchange Management Act (FEMA),1999. The prescriptions are: (i) all foreign exchange transactions are required to be channelled throughthe banking system; and (ii) the authorised dealers (ADs) are required to submit various returns to theRBI on those transactions (RBI 1987).
The compilation is thus done on the basis of such statistical returns submitted by ADs to the RBI. Themost important return is the well-known R returns, which covers export receipts, import payments, andalso non-merchandise transactions (current and capital) beyond a cut-off limit; this cut-off limit prescribedfor the supplementary statement of receipts in respect of purposes other than exports, was varied from timeto time; it was Rs 1 lakh and above for some time up to January 2001 but was raised to $ 10,000 andabove thereafter. These R return schedules, including the supplementary statement of receipts, for non-merchandise transactions are now obtained from about 2,000 AD branches in electronic form. All of the
5 Balance of Payments
R returns data cover forex transactions including their purpose-wise classification up to and above the cut-off limit referred to above, and for the transactions below the limit, only total amount is given. Therefore,to capture such purpose-wise classification in respect of the balance of forex transactions below the cut-off limit of $10,000 now (about Rs 50,000), a sample survey of unclassified receipts is undertaken on aquarterly basis. Thirdly, data on a number of what are called non-R return items, that is, items dealt withdirectly by the government such as defence-related purchases and other official transactions, are supple-mented from government sources and major diplomatic missions abroad (Washington, London and Tokyo).Finally, there are three more other sources which supplement the above BOP data:
(i) a foreign currency gross provisional return (FCGPR) on capital account transactions includingall investment flows;
(ii) a BAL statement on balances in NRE deposit accounts; and(iii) information, through fortnightly section 42(2) returns of banks, on their Nostro balances (normally
in credit) and Vostro balances (normally in debt).In addition, there is yet another class of surveys on India’s ‘foreign liabilities and assets’, which has
finally culminated into a more comprehensive survey on international investment position (IIP). Earlierthis survey of foreign assets and liabilities was periodically undertaken to fill the gap in the capitaltransactions of the private sector; this survey was also used to obtain data on direct investment flows ona non-cash basis such as shares allotted to non-residents against import of plant and equipment or againsttechnical know-how fees, and direct investors’ portion of reinvested earnings. Now, the Indian governmenthas accepted Special Data Dissemination Standards (SDDS)6 prescribed by IMF in the aftermath of thefinancial crisis of 1997-98, according to which, the IIP, amongst others, ‘has become the focus of attentionon account of its comprehensive coverage and the feasibility of assessing the impact of policies on thecomposition of capital flows’ (RBI’s Annual Report, 2002-03, p.112). Under the SDDS, India was committedto compile the IIP for the period ending March 2002. Accordingly, annual IIP of India for the years March1997 to March 2002 have been placed on RBI’s website.
Apparent gaps in balance of payments data: -
(i) As pointed out earlier, there is the need to present import data in fob terms and thus give thevaluesof freight and insurance under invisibles more accurately.
(ii) IMF publications classify data on invisibles under 15 heads, whereas Indian BOP is generallyreported under 7 heads. Now that the RBI has begun collecting substantially more disaggregateddata, BOP classification may be expanded (Exhibit IA).
(iii) RBI was conducting sporadic studies on currency-wise pattern of exports and imports andinvisibles. It is hoped that these will be continued and that an analysis of the available datamay be undertaken more regularly such as once in two years.
(iv) Detailed dissemination of FDI inflows by sectors and by projects is needed. The advisory groupon data dissemination had in fact highlighted this requirement. Currently, the Secretariat ofIndustrial Approvals (GoI) publishes in their SIA Newsletter (monthly) census list of FDIapprovals with brief details on individual proposals and some consolidated data on actual inflows.RBI may attempt publishing similar data on the progress achieved in actual inflow of FDI andtechnical collaborations, along with ‘individual profiles’ for major cases of inflows and projectsunder implementation.
Difference between RBI balance of payments data and customs data.
As repeatedly reported by the RBI, a phenomenon in the external trade statistics of India has been thesignificant divergence between the merchandise transactions, particularly on imports, as revealed by thecustoms data compiled by the Directorate General of Commercial Intelligence and Statistics (DGCI and S)and the BOP data published by the RBI on payment basis (see Table 1 below). Apart from valuation andtiming differences as between the customs data based on the shipment of goods and the booking of, say,
Balance of Payments 6
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s-re
late
dse
rvic
esse
rvic
e tr
ansa
ctio
n co
veri
ng d
ata
base
s,da
ta p
roce
ssin
g, h
ardw
are
cons
ulta
ncy.
8R
oyal
ties
and
licen
ce f
ees
Cov
er r
ecei
pts/
paym
ents
due
to
sale
of
trad
emar
ks,
copy
righ
ts,
pate
nts,
fra
nchi
ses
due
to t
he u
se o
fpr
oduc
ed o
rigi
nals
suc
h as
film
s, m
anus
crip
ts.
9O
ther
bu
sine
ss s
ervi
ces
Ser
vice
s; o
pera
tiona
l le
asin
g se
rvic
es;
and
mis
cella
-ne
ous
busi
ness
, pr
ofes
sion
al,
tech
nica
l se
rvic
es.
10P
erso
nal,
cultu
ral
and
Incl
ude
serv
ices
ass
ocia
ted
with
the
pro
duct
ion
ofre
crea
tiona
l ser
vice
sm
otio
n pi
ctur
es o
n fil
ms
or v
ideo
-tap
e, r
adio
and
tele
visi
on p
rogr
amm
es11
Gov
ernm
ent
serv
ices
n.i.
e.C
over
s se
rvic
es a
ssoc
iate
d w
ith g
over
nmen
tse
ctor
s or
int
erna
tiona
l or
reg
iona
lor
gani
satio
ns a
nd n
ot c
lass
ified
els
ewhe
re.
Inco
me:
-1
Com
pens
atio
n of
Cov
ers
wag
es,
sala
ries
, ot
her
bene
fits
inem
ploy
ees
cash
or
in k
ind
of b
orde
r, s
easo
nal
and
non-
resi
dent
wor
kers
in
emba
ssie
s2
Inve
stm
ent
inco
me
Con
sist
s of
dir
ect
and
port
folio
inc
ome,
and
othe
r in
com
eT
ran
sfer
s:-
1O
ffic
ial t
rans
fers
Incl
udes
cur
rent
int
erna
tiona
l co
oper
atio
nbe
twee
n go
vern
men
ts,
paym
ents
of
curr
ent
taxe
s on
inc
ome
and
wea
lth2
Pri
vate
tra
nsfe
rsIn
clud
es w
orke
rs r
emitt
ance
s, c
laim
s on
nom
n-lif
e in
sura
nce
etc.
Not
e:T
he r
ecor
ding
of
tran
spor
tatio
n an
d in
sura
nce
tran
sact
ions
on
a gr
oss
basi
s an
d th
eir
recl
assi
ficat
ion
from
mer
chan
dise
to
invi
sibl
es f
orm
par
t of
the
ong
oing
eff
orts
to
refin
e an
ddi
sagg
rega
te t
he b
alan
ce o
f pa
ymen
ts s
tatis
tics.
Sou
rce:
IMF
, B
alan
ce o
f P
ymen
ts S
tatis
tics,
Yea
rboo
k, V
olum
e 35
, P
art
I, 1
984
Balance of Payments 8E
XH
IBIT
B:
ES
TIM
AT
ION
OF
IN
VIS
IBL
E A
CC
OU
NT
S -
A C
OM
PA
RIS
ON
OF
RB
I C
LA
SS
IFC
AT
ION
WIT
H T
HE
IM
F C
LA
SS
IFIC
AT
ION
(IM
F B
OP
Yea
rbo
ok)
I .
IMF
Cla
ssif
icat
ion
of
Invi
sib
les
I .
IMF
Cla
ssif
icat
ion
of
Invi
sib
les
Item
Nos
.N
omen
clat
ure
Bri
ef D
escr
iptio
nIt
em N
os.
Nom
encl
atur
eB
rief
Des
crip
tion
(Cre
dit
and
Deb
it)(C
redi
t an
d D
ebit)
3 an
d 4
Shi
pmen
tF
reig
ht a
nd i
nsur
ance
cha
rges
on
expo
rts
and
23 a
nd 2
4O
ther
res
iden
tA
mis
cella
neou
s ca
tego
ry (
like
sale
of
emba
ssy
inpo
rts
offic
ial,
Nie
build
ings
, fo
r in
stan
ce)
5 an
d 6
Pas
seng
er s
ervi
ces
Pas
seng
er f
ares
25 a
nd 2
6O
ther
res
iden
tA
ll fo
reig
n em
bass
y re
ceip
ts a
nd p
aym
ents
for
offic
ial,
Nie
dipl
omat
ic m
issi
ons
abro
ad i
nclu
ding
exp
endi
ture
s7
and
8P
ort
serv
ices
Bun
kers
, su
pplie
s of
jet
fue
l, an
d re
pair
ser
vice
sin
curr
ed b
y U
N a
genc
ies
and
the
agen
cies
lik
eat
por
ts a
nd a
irpo
rts
the
Wor
ld B
ank,
IM
F a
nd A
DB
.
9 an
d 10
Tra
vel
Tou
rist
s an
d ot
her
tem
pora
ry v
isito
rs’s
for
eign
27 a
nd 2
8La
bour
inc
ome,
Nie
.P
erso
nal
inco
me
earn
ed/
rem
itted
in
resp
ect
ofex
chan
ge e
xpen
ditu
rew
orke
rs w
ho s
tay
outs
ide
the
coun
try
of t
heir
resi
denc
e fo
r le
ss t
han
one
year
I.e
. fo
rte
mpo
rary
em
ploy
men
t.11
and
12
Re-
inve
sted
ear
ning
sS
hare
of
undi
stri
bute
d ea
rnin
gs o
f co
mpa
nies
with
on d
irec
t in
vest
men
tfo
reig
n sh
areh
oldi
ngs.
Thi
s in
clud
es e
arni
ngs
of29
and
30
Pro
pert
y in
com
e, N
ieR
ecei
pts/
paym
ents
for
pat
ents
and
roy
altie
s.ab
road
bran
ches
of
fore
ign
com
pani
es u
nrem
itted
(inc
ludi
ng b
anki
ng c
ompa
nies
)
13 a
nd 1
4O
ther
dir
ect
this
sec
tion
cove
rs d
istr
ibut
ed e
arni
ngs
of31
and
32
othe
r go
ods,
ser
vice
sT
his
will
cov
er:
inve
stm
ent
inco
me
fore
ign
cont
rolle
d co
mpa
nies
or
prof
its r
emitt
edan
d in
com
es,
Nie
.(i
) va
lue
adde
d fr
om r
e-ex
port
s(d
istr
ibut
ed e
arni
ngs)
in t
he c
ase
of b
ranc
hes
or i
nter
est
paym
ents
(ii)
loc
al e
xpen
ses
of o
ffsh
ore
com
pani
esm
ade
to p
rinc
ipal
s.(i
ii) m
otio
n pi
ctur
e fil
m r
enta
l an
d m
anag
emen
t fe
es(i
v) n
et t
rans
actio
ns f
rom
life
ins
uran
ce c
orpo
ratio
ns
i.e
all
non-
mer
chan
dise
ins
uran
ce a
nd n
on-t
rade
15 a
nd 1
6O
ther
inve
stm
ent
this
sho
uld
incl
ude
inte
rest
inc
ome
rece
ivab
le o
n
se
rvic
es o
btai
ned
from
abr
oad.
inco
me
of r
esid
ent
fore
ign
curr
ency
ass
ets
held
abr
oad
and
also
int
e-of
ficia
l, in
clud
ing
rest
pai
d on
for
eign
deb
t he
ld b
y go
vern
men
t an
d33
and
34
Mig
rant
s‘ t
rans
fer
Rem
ittan
ce r
ecei
ved
/pai
d fr
om/f
or t
empo
rary
inte
roffi
cial
gove
rnm
ent
owne
d pu
blic
util
ities
and
age
ncie
s.m
igra
nts
abro
ad o
ther
tha
n th
ose
seek
ing
empl
oym
ent
or i
nitia
l ar
riva
ls
17 a
nd 1
8O
ther
inve
stm
ent
For
eign
off
icia
l in
tere
st i
ncom
e pa
id t
o a
non-
35 a
nd 3
6W
orke
r’s
rem
ittan
ces
Rem
ittan
ce o
f w
orke
rs I
.e.
thos
e w
ho a
re f
orin
com
e of
for
eign
offic
ial
orga
nisa
tion
(cre
dit)
and
a p
riva
tere
gula
r em
ploy
men
t bu
t ei
ther
tha
n th
ose
inof
ficia
l ex
clud
ing
orga
nisa
tion
payi
ng i
nter
est
to a
for
eign
off
icia
lbu
sine
ss.
Als
o pe
rson
al r
emitt
ance
by
pers
ons
inte
roffi
cial
orga
nisa
tion
(deb
it)em
ploy
ed u
nder
tec
hnic
al a
ssis
tanc
e.
19 a
nd 2
0O
ther
inve
stm
ent
Cov
ers:
37 a
nd 3
8O
ther
pri
vate
Per
sona
l re
mitt
ance
s of
a s
peci
al n
atur
e su
ch a
sin
com
e (p
riva
te t
o(i
) D
ivid
ends
on
port
folio
inv
estm
ent
tran
sfer
spe
nsio
ns a
nd s
ocia
l se
curi
ty r
ecei
pts/
paym
ents
priv
ate)
i
ncom
e in
equ
ities
and
all
gilts
(ii)
Int
eres
t ea
rned
/pai
d on
ban
k de
posi
ts(i
ii) D
eben
ture
s an
d ot
her
debt
sec
uriti
es39
and
40
Inte
roff
icia
l tra
nsfe
rsO
n th
e re
ceip
ts s
ide,
con
tra-
entr
ies
for
all
gran
ts(i
v) T
his
item
als
o co
vers
int
eres
t pa
id o
n fo
reig
nfo
r te
chni
cal
assi
stan
ce;
also
can
cella
tion
of
deb
t by
pub
lic e
nter
pris
es a
nd a
lso
corp
orat
ions
debt
is
incl
uded
in
this
ite
m.
Deb
its i
nclu
de
who
se d
ebt
is g
uara
ntee
d by
loc
al g
over
nmen
tsac
tual
gra
nt f
igur
es.
21 a
nd 2
2In
ter-
offic
ial,
n.i.e
.T
his
shou
ld c
over
val
ue o
f se
rvic
es o
btai
ned/
41 a
nd 4
2O
ther
tra
nsfe
rs o
fT
his
incl
udes
som
e tr
ansf
ers
to r
esid
ent
gove
rn-
rend
ered
und
er a
id p
rogr
amm
es w
hich
are
fin
ance
dre
side
nt o
ffic
ial
men
ts l
ike
taxe
s fr
om n
on-r
esid
ents
(lik
e fo
reig
nby
gra
nts
and
whi
ch h
as a
con
tra
entr
y un
der
com
pany
reg
istr
atio
n fe
es)
or o
n th
e de
bt s
ide
item
no
39 b
elow
.of
ficia
l tr
ansf
ers
to p
riva
te e
ntiti
es a
broa
d lik
epe
nsio
n pa
ymen
ts.
43 a
nd 4
4O
ther
tra
nsfe
rs o
fT
his
cove
rs c
laim
s re
ceiv
ed f
rom
for
eign
soc
ial
fore
ign
offic
ial
secu
rity
ins
titut
ion,
pen
sion
s an
d sc
hola
rshi
ps,
etc.
on t
he d
ebit
side
, pa
ymnt
s by
pri
vate
ind
ivid
uals
and
orga
nisa
tions
to
fore
ign
gove
rnm
ents
(fo
reig
nso
cial
sec
urity
ins
titut
ions
) an
d co
nsul
ar a
ndvi
sa-f
ee p
aym
ents
.
(Con
td)
9 Balance of Payments
EX
HIB
IT B
: E
ST
IMA
TIO
N O
F I
NV
ISIB
LE
AC
CO
UN
TS
- A
CO
MP
AR
ISO
N O
F R
BI
CL
AS
SIF
CA
TIO
N W
ITH
TH
E I
MF
CL
AS
SIF
ICA
TIO
N (
IMF
BO
P Y
earb
oo
k) (
Con
clud
ed)
II. R
BI
Cla
ssif
icat
ion
No
men
clat
ure
Co
rres
po
nd
ing
Ite
m N
os
in a
bo
ve I
MF
Cla
ssif
icat
ion
1 T
rave
lIt
em n
umbe
rs 9
and
10
(inc
ludi
ng t
he r
elev
ant
shar
e fr
omun
clas
sifie
d re
ceip
ts
2 T
rans
port
atio
nIt
em n
umbe
rs 3
and
4 (
frei
ght
com
pone
nt o
nly)
and
als
o 5
and
6 (p
asse
nger
far
es)
and
item
num
bers
7 a
nd 8
(po
rtse
rvic
es)
3 In
sura
nce
Item
num
bers
3 a
nd 4
(in
sura
nce
com
pone
nt o
nly)
.Thi
s ite
mal
so i
nclu
des
surp
lus
fund
s re
ceiv
ed b
y In
dian
Ins
uran
ceco
mpa
nies
fro
m a
broa
d (I
tem
num
bers
31
and
32)
4. I
ncom
e :
Inv
estm
ent
Inco
me
Item
num
bers
11
and
12,
13,
14 ,
15 a
nd 1
6, 1
7and
18
and
19an
d 20
Com
pens
atio
n to
em
ploy
ees
Item
num
bers
27
and
28
5 G
over
nmen
t N
.i.e.
Item
num
bers
23
and
24 a
nd 2
5 an
d 26
6. M
isce
llane
ous
Item
no
29 a
nd 3
0
7 T
rans
fer
Pay
men
ts
(I
) O
ffic
ial
Item
num
bers
21
and
22,
23 a
nd 2
4,
39 a
nd 4
0, 4
1 an
d 42
and
43 a
nd 4
4
(ii)
Pri
vate
Item
num
bers
33
and
34,
35 a
nd 3
6, 3
7 an
d 38
.
Not
e:T
he r
ecor
ding
of
tran
spor
tatio
n an
d in
sura
nce
tran
sact
ions
on
a gr
oss
basi
s an
d th
eir
recl
assi
ficat
ion
from
mer
chan
dise
to
invi
sibl
es f
rom
par
t of
the
ong
oing
eff
orts
to
refin
e an
d di
sagg
re-
gate
the
bal
ance
of
paym
ents
sta
tistic
s.S
ourc
e:IM
F,
Bal
ance
of
Pay
men
ts S
tatis
tics,
Yea
rboo
k, V
olum
e 35
, P
art
I, 1
984
imports on payments basis, a major cause for the difference in merchandise imports is that customs (DGCIand S) data do not cover import of defence stores including defence equipment, while the RBI data coverthe same as and when these imports are paid for. Besides, RBI data have a lead in payments in regardto imports under external assistance and commercial borrowings as the RBI records them when the paymentsare made to suppliers while the DGCI and S data cover them when the goods arrive in the country in accordancewith the recommendations of the report of the technical group on reconciling balance of payments andDGCI and S data sources on merchandise trade. Data on gold and silver brought in by the Indians returningfrom transfer receipts since 1992-93 abroad have been included under import payments with contra entryunder private transfer receipts.
As the data in text Table 1 shows, the differences between the two sources have got widened, particularlyin the latter half of the last decade when defence purchases seems to have got expanded; it is quiet likelythat leads and lags between shipments and payment receipts may have also got widened.
Table 1: India’s Foreign Trade : A Comparison of DGCI & S and RBI Data(Rupees, Crore)
Exports Imports Trade Balance
DGCI and S RBI Difference DGCI and S RBI Difference DGCI and S RBI Difference(2-3) (5-6) (8-9)
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
1980-81 6711 6666 45 12549 12876 -327 -5838 -6210 3721981-82 7806 7766 40 13608 14260 -652 -5802 -6494 6921982-83 8803 9137 -334 14293 15856 -1563 -5490 -6719 12291983-84 9771 10169 -398 15831 17093 -1262 -6060 -6924 8641984-85 11744 11959 -215 17134 18680 -1546 -5390 -6721 13311985-86 10895 11578 -683 19658 21164 -1506 -8763 -9586 8231986-87 12452 13315 -863 20096 22669 -2573 -7644 -9354 17101987-88 15674 16396 -722 22244 25693 -3449 -6570 -9297 27271988-89 20232 20647 -415 28235 34202 -5967 -8003 -13555 55521989-90 27658 28229 -571 35328 40642 -5314 -7670 -12413 47431990-91 32558 33153 -595 43193 50086 -6893 -10635 -16933 62981993-94 69751 71146 -1395 73101 83869 -10768 -3350 -12723 93731994-95 82674 84329 -1655 89971 112749 -22778 -7297 -28420 211231995-96 106353 108481 -2128 122678 146542 -23864 -16325 -38061 217361996-97 118817 121194 -2377 138920 173753 -34833 -20103 -52559 324561997-98 130101 132703 -2602 154176 190508 -36332 -24075 -57805 337301998-99 139753 144436 -4683 178332 199914 -21582 -38579 -55478 168991999-00 159561 165993 -6432 215236 240112 -24876 -55675 -74119 184442000-01 203571 205287 -1716 230873 270663 -39790 -27302 -65376 380742001-02 209018 214351 -5333 245200 274778 -29578 -36182 -60427 242452002-03 255137 254022 1115 297206 316450 -19244 -42069 -62428 203592003-04 291582 288769 2813 353976 365641 -11665 -62394 -76872 14478
Sources : Various issues of RBI Bulletin
IIIAn Overview of India’s Balance of Payments
Appendix Tables 1(A) to 5 present a detailed account of all the major components of India’s balanceof payments for about 54 years since 1950-51. A few special tables amongst them give further detailsof some important sub-categories of invisibles and capital transactions. A text Table 2, depicts a profileof end-year foreign exchange reserves including annual transactions with the IMF. A separate table presents‘rest of the world account’ transactions as tabulated by the Central Statistical Organisation (CSO) in itsNational Accounts Statistics (Appendix Table 6). A few analytical tables such as the one on financing ofcurrent account deficit (Table 3) and another on selected indicators of BOP (Table 4) are also presentedas text tables. They make an attempt to provide a perspective of macro analysis that is possible of BOPstatistics. Apart from exports and imports of goods and services, the table on ‘rest of the world account’provides data on (a) compensation of employees from, and to, the rest of the world; and (b) property andentrepreneurial income similarly from, and to, the rest of the world. The objective of this note is to presentthese data for use by research scholars and others and not to provide any detailed analysis. However,
Balance of Payments 10
opportunity is taken to make a few obser-vations on what these mass of data revealessentially as a lead for their users.
First, there has occurred a quantum leap inthe proportion of India’s exports in GDP. Forover three decades, merchandise exports hadconstituted around 4 to 5 per cent of GDP butthis has jumped to about 8 to 9 per cent inthe 1990s (Table 4 in the text) and over 10per percent in the latest two years. Further,it is revealed that inclusive of exports ofservices, the rise in the ratio of goods andservices to GDP has been much sharper, fromabout a range of 8-9 per cent to 18-19 per cent.Significantly, the rise in export earnings hasbeen accompanied by similar sizeable increasein imports as percentage of GDP. Althoughthe physical trade to GDP ratio has not shown
any significant expansion in the second halfof the 1990’s, the ratio has significantly im-proved in this millenium. On the other hand,exports of services as percentage of GDP haswitnessed a more rapid and continuous rise.It has grown from about 2.5-3.5 per cent forabout two decades until the early 1990’s to 5per cent in 1995-96 and to 8.8 per cent in 2003-04, the most commendable feature being thatthe growth in exports of both goods and ser-vices have come about despite around 8 percent appreciation of the rupee against the dollarin these two years; of course, in REER terms,there has not been any change in the value ofthe rupee.
Secondly, the current account deficit – acrucial macro economic indicator – has faced
a chequered trend. As percentage of GDP,it was around 2 per cent during the highinvestment phases of the second and thirdfive-year plan periods (1956-57 to 1965-66)and also during the decade of the 1980s.Interestingly, the 1990s in particular haveshown the lowest relative current accountdeficit so much so that by 2001-02, therehas arisen a current account surplus, whichhas continued has continued till the firstquarter of 2004-05. Earlier, such a surpluswas experienced in the mid-1970s when thenational economy had similarly experiencedan investment famine.
11 Balance of Payments
Graph 1Export and Import as Percentage of GDP
0
5
10
15
20
25
30
1961
-62
1963
-64
1965
-66
1967
-68
1969
-70
1971
-72
1973
-74
1975
-76
1977
-78
1979
-80
1981
-82
1983
-84
1985
-86
1987
-88
1989
-90
1991
-92
1993
-94
1995
-96
1997
-98
1999
-00
2001
-02
2003
-04
Years
Per
cen
tag
e
Exports as % to GDP Imports as % to GDP
Graph 2Total Merchandise as % to GDP
0
5
10
15
20
25
30
1961
-62
1963
-64
1965
-66
1967
-68
1969
-70
1971
-72
1973
-74
1975
-76
1977
-78
1979
-80
1981
-82
1983
-84
1985
-86
1987
-88
1989
-90
1991
-92
1993
-94
1995
-96
1997
-98
1999
-00
2001
-02
2003
-04
Years
Per
cent
ages
Total Merchandise as % to GDP
Graph 3Financing CAD
-20000
-10000
0
10000
20000
30000
40000
50000
60000
70000
80000
1960
-61
1962
-63
1964
-65
1966
-67
1968
-69
1970
-71
1972
-73
1974
-75
1976
-77
1978
-79
1980
-81
1982
-83
1984
-85
1986
-87
1988
-89
1990
-91
1992
-93
1994
-95
1996
-97
1998
-99
2000
-01
2002
-03
Years
Rs
Cro
re
External assistance Commercial Borrowings Foreign Investments NRI Deposits
Thirdly, again, in the financing of currentdeficit (text Table 3 and Graph 3), there hasoccurred a significant change in the relativeimportance of various sources of financein this respect. While the role of externalassistance has declined in the 1990s, theimportance of private investment flows,NRI deposits and commercial borrowings,has increased. Separate information pro-vided on the first two items of investmentflows [Appendix Tables 3A, 3B and 3C]and NRI deposits (Appendix Tables 4Aand 4B) speak of their importance in ab-solute numbers.
Finally, above all, it is the phenomenalexpansion in foreign currency assets in the1990s that stands out. As indicated in thetext Table 2, the country’s foreign exchangereserves had generally remained low afterthe sterling balances were brought down in the early phase of planning. The years when the reserves formedmore than three months’ import requirements, as in the 1970s and the early 1980s, were periods of considerablerecessionary conditions in Indian industry; in the early 1980s the reserves were also supported by the IMF drawals.
The same phenomena of recession as well as IMF and other exceptional drawings were prevalent in theearly 1990s; thereafter the foreign exchange reserves began to rise. But, the increases in reserves that haveoccurred after 1995-96 or thereabout are of a different genre. Not only have there been no IMF borrowings(in fact all repurchase obligations have been cleared), the recessionary conditions have not been as severeas in, for instance, in the 1970s. In fact, inflows have been quite sizeable as a result of reduced merchandisedeficits, rapid increases in private inward remittances, and higher capital flows - all of which could notprobably have been absorbed even if the tempo of investment was stepped up.
Notes
[Acknowledment: An original note on the subject was published in the Economic and Political Weekly (EPW) of November13-20, 1993. The same has been thoroughly revised and updated by Ms. Shilpa Jain for publication on the websitewww.epwrf.res.in Mrs. Rema K. Nair undertook page-making.]
1 International Monetary Fund, Balance of Payments Manual, Fourth Edition, 1971.2 The Reserve Bank of India has compiled and published its own manual setting out the concepts and methodology, the main
constitutents of BoP and source of data used. See Reserve Bank of India (1987), Balance of Payments Compilation Manual,October, 1987.
3 See International Monetary Fund, Balance of Payments Statistics (various yearbook volumes)4 See RBI,op cit, pp 21-22.5 Portfolio investment mainly includes FIIs’ investment, funds raised through GDRs/ADRs by Indian companies and through
offshore funds. Data on investment abroad, hitherto reported, have been split into equity capital and portfolio investment since2000-01.
6 A detailed note on the SDDS has been published by the EPW Research Foundation (2003) ; it is: “ International Reserve,Foreign Currency Liquidity and External Debt: Data template”, Economic and Political Weekly, September 30, 2003.
Symbols and Abbreviations
1. The following symbols have been used throughout the article... = data not available-, 0 = nil or negligible. = Denotes data not available separately and has been clubbed elsewhere.
2. f.o.b. = free on boardc.i.f- cost, insurance and freight.
3. NR(E)RA = Non-Resident (External) Rupee Account4. FCNR (B) = Foreign Currency Non-Resident (Banks)5. FCNR (A) = Foreign Currency Non-Resident (Accounts)
Balance of Payments 12
Graph 4
Import Cover
0
10000
20000
30000
40000
50000
60000
Years
0.0
2.0
4.0
6.0
8.0
10.0
12.0
Forex Reserves Import Cover
20
01
-02
Tab
le 2
: F
ore
ign
Exc
han
ge
Res
erve
s :
1950
-51
to 2
003-
04
For
eign
Exc
hang
e R
eser
ves
Tra
nsac
tions
with
the
IM
F
Yea
rS
DR
sG
old
For
eign
To
tal
SD
Rs
Gol
dF
orei
gnT
ota
lD
raw
ings
Rep
ur-
Out
-D
raw
ings
Rep
ur-
Out
-R
eser
veR
eser
ves
Cur
renc
yC
urre
ncy
chas
esst
andi
ngch
ases
stan
ding
Pos
ition
in t
erm
sA
sset
sA
sset
sR
epur
chas
e#
Rep
urch
ase
in t
heof
no
ofO
blig
atio
nsO
blig
atio
nsF
und
mon
ths
ofIm
port
s
(In
Rs
Cro
re)
(In
US
Dol
lar
Mill
ion)
(In
Rs
Cro
re)
(In
US
Dol
lar
Mill
ion)
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
(12)
(13)
(14)
(15)
(16)
(17)
1950
-51
-11
891
110
29-
247
1914
2161
--
48-
-10
0-
19.0
1951
-52
-11
874
786
5-
247
1568
1815
--
48-
-10
0-
10.8
1952
-53
-11
876
388
1-
247
1603
1850
--
48-
-10
0-
16.7
1953
-54
-11
879
291
0-
247
1664
1911
-17
30-
3664
-18
.419
54-5
5-
118
774
892
-24
716
2618
73-
1713
-36
28-
15.5
1955
-56
-11
878
590
3-
247
1648
1895
-7
6-
1513
-14
.019
56-5
7-
118
563
681
-24
711
8414
3161
661
126
1212
8-
7.4
1957
-58
-11
830
342
1-
247
637
884
35-
9572
-20
0-
4.1
1958
-59
-11
826
137
9-
247
548
795
--
95-
-20
0-
4.4
1959
-60
-11
824
536
3-
247
515
762
-24
71-
5015
0-
4.7
1960
-61
-11
818
630
4-
247
390
637
-11
61-
2312
8-
3.3
1961
-62
-11
818
029
8-
247
377
624
119
6111
924
912
725
0-
3.5
1962
-63
-11
817
729
5-
247
372
619
12-
131
25-
275
-3.
219
63-6
4-
118
188
306
-24
739
564
2-
2410
7-
5022
5-
2.9
1964
-65
-13
411
625
0-
281
243
524
4848
107
9910
022
5-
2.1
1965
-66
-11
618
229
8-
243
383
626
6636
137
137
7528
8-
2.6
1966
-67
-18
329
647
9-
243
395
638
8943
313
126
5741
8-
2.7
1967
-68
-18
335
653
9-
243
475
718
6843
338
8958
450
-3.
119
68-6
9-
183
394
577
-24
352
676
9-
5927
9-
7837
2-
3.9
1969
-70
9218
354
682
112
324
372
810
94-
125
154
-16
720
5-
6.2
1970
-71
112
183
438
733
148
243
584
975
-15
3.8
--
205
--
4.8
1971
-72
194
183
480
857
269
264
661
1194
--
--
--
-5.
019
72-7
322
618
347
988
829
729
362
912
19-
--
--
--
5.2
1973
-74
230
183
581
994
296
293
736
1325
62-
5979
-75
-4.
419
74-7
522
918
361
010
2229
330
478
213
7948
5-
557
608
-71
5-
2.9
1975
-76
211
183
1492
1886
234
281
1657
2172
207
-80
423
9-
896
-4.
219
76-7
719
218
828
6332
4321
729
032
4037
47-
303
492
-33
655
9-
7.4
1977
-78
170
193
4500
4863
200
319
5305
5824
-24
921
0-
333
249
-9.
919
78-7
938
122
052
2058
2147
037
764
2172
68-
207
--
256
--
9.2
1979
-80
545
225
5164
5934
662
375
6324
7361
-55
$-
-14
5-
-7.
319
80-8
149
722
648
2255
4560
337
058
5068
2327
4 @
5 $$
268
342
1632
7-
5.0
1981
-82
444
226
3355
4025
473
335
3582
4390
637@
@-
901
692
4096
4-
3.4
1982
-83
291
226
4265
4782
291
324
4281
4896
1893
@@
-28
6719
68-
2876
-3.
619
83-8
424
822
654
9859
7223
032
050
9956
4914
14@
@72
(a)
4444
1376
7041
50-
4.1
1984
-85
181
246
6817
7243
145
325
5482
5952
219@
@15
6(b)
4888
201
134
3932
-4.
519
85-8
616
127
473
8478
1913
141
759
7265
20-
253
c)52
85-
209
4290
-4.
519
86-8
723
227
476
4581
5117
947
159
2465
74-
672(
d)55
48-
521
4291
-4.
4
(Con
td)
13 Balance of Payments
Tab
le 2
: F
ore
ign
Exc
han
ge
Res
erve
s :
1950
-51
to 2
002-
03 (
Con
clud
ed)
(Rup
ees,
Cro
re)
For
eign
Exc
hang
e R
eser
ves
Tra
nsac
tions
with
the
IM
F
Yea
rS
DR
sG
old
For
eign
To
tal
SD
Rs
Gol
dF
orei
gnT
ota
lD
raw
ings
Rep
ur-
Out
-D
raw
ings
Rep
ur-
Out
-R
eser
veR
eser
ves
Cur
renc
yC
urre
ncy
chas
esst
andi
ngch
ases
stan
ding
Pos
ition
in t
erm
sA
sset
sA
sset
sR
epur
chas
e#
Rep
urch
ase
in t
heof
no
ofO
blig
atio
nsO
blig
atio
nsF
und
mon
ths
ofIm
port
s
(In
Rs
Cro
re)
(In
US
Dol
lar
Mill
ion)
(In
Rs
Cro
re )
(In
US
Dol
lar
Mill
ion)
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
(12)
(13)
(14)
(15)
(16)
(17)
1987
-88
125
274
7287
7686
9750
856
1862
23-
1209
(e)
4732
-93
036
5363
3.5
3.8
1988
-89
161
274
6605
7040
103
473
4226
4802
-15
47(f
)36
96-
1070
2365
671.
62.
419
89-9
018
428
157
8762
5210
748
733
6839
62-
1460
(g)
2572
-87
314
9363
0.0
1.9
1990
-91
200
6828
4388
1141
610
234
9622
3658
3433
34 &
1156
(h)
5132
1858
647
2623
-2.
519
91-9
223
390
3914
578
2385
090
3499
5631
9220
3205
@@
1127
(I)
8934
1240
460
3451
-5.
319
92-9
355
1054
920
140
3074
418
3380
6434
9832
4231
868(
j)14
986
1623
335
4799
296
4.9
1993
-94
339
1279
447
287
6042
010
840
7815
068
1925
410
0742
0(k)
1581
232
513
450
4029
98.
619
94-9
523
1375
266
005
7978
07
4370
2080
925
186
-35
85(l)
1354
5-
1146
4300
331
8.4
1995
-96
280
1565
858
446
7438
482
4561
1704
421
687
-57
49(m
)81
52-
1710
2374
310
6.0
1996
-97
714
557
8036
894
932
240
5422
367
2642
3-
3461
(n)
4714
-97
713
1329
16.
519
97-9
84
1339
410
2507
1159
051
3391
2597
529
367
-22
86(o
)26
24-
615
664
283
6.9
1998
-99
3412
559
1254
1213
8005
829
6029
522
3249
0-
1652
(p)
1220
-10
228
766
38.
219
99-0
016
1297
315
2924
1659
134
2974
3505
838
036
--
--
--
658
8.2
2000
-01
1112
711
1844
8219
7204
227
2539
554
4228
1-
--
--
-61
68.
220
01-0
250
1486
824
9118
2640
3610
3047
5104
954
106
--
--
--
610
11.3
2002
-03
1916
785
3414
7635
8280
435
3471
890
7542
8-
--
--
-67
213
.820
03-0
410
1821
646
6215
4844
412
4198
1074
4811
1648
--
--
--
1311
17.0
-’ :
deno
tes
nil.
@E
xclu
des
Rs.
544
.53
cror
e un
der
Tru
st F
und.
@@
Dra
wal
s un
der
Ext
ende
d F
und
Fac
ility
(EF
F)
of S
tand
-by
Arr
ange
men
t&
&D
raw
als
of R
s. 2
217.
2 cr
ore
unde
r C
ompe
nsat
ory
and
Con
tinge
ncy
Fin
anci
ng F
acili
ty a
nd R
s. 9
87.5
cro
re u
nder
Fir
st C
redi
t T
ranc
he o
f S
tand
-by
Arr
ange
men
t$
Incl
udes
vol
unta
ry r
epur
chas
es o
f R
upee
s (R
s. 1
99 c
rore
) an
d sa
les
of R
upee
s by
the
IM
F u
nder
its
gen
eral
Res
ourc
e ac
cout
(R
s. 3
5.2
cror
e)$$
Sal
es o
f R
upee
s by
the
Fun
d.#
Add
ition
ally
, S
DR
59.
9 m
illio
n in
May
197
9,S
DR
59.
9 m
illio
n in
Jul
y 19
80 a
nd S
DR
34.
5 m
illio
n in
Mar
ch 1
982
wer
e us
ed f
or r
epur
chas
es o
f R
upee
s.(a
)S
DR
34.
5 m
illio
n w
ere
used
for
rep
urch
ases
of
daw
als
unde
r C
ompe
nsat
ory
Fin
anci
ng F
acili
ty.
(b)
SD
R 3
3.25
mill
ion
and
Rs.
117
.85
cror
e in
for
eign
cur
renc
ies
wer
e us
ed f
or r
epur
chas
esof
dra
wal
s un
der
CF
F.
(c)
SD
R 6
6.5
mill
ion
and
SD
Rs
131.
25 m
illio
n w
ere
used
for
re
purc
hase
s of
dra
wal
sun
der
CF
F a
nd E
FF
res
pect
ivel
y.(d
)S
DR
431
.25
mill
ion
wer
e us
ed f
or r
epur
chas
es o
f dr
awal
s un
der
EF
F.
(e)
SD
R 7
04.1
7 m
illio
n w
ere
used
for
rep
urch
ases
of
draw
als
unde
r E
FF
.(f
)S
DR
804
.18
mill
ion
wer
e us
ed f
or r
epur
chas
es o
f dr
awal
s un
der
EF
F.
(g)
SD
R 6
81.2
5 m
illio
n w
ere
used
for
rep
urch
ases
of
draw
als
unde
r E
FF
.(h
)S
DR
468
.75
mill
ion
wer
e us
ed f
or r
epur
chas
es o
f dr
awal
s un
der
EF
F.
(i)
SD
R 3
37.4
9 m
illio
n w
ere
used
for
rep
urch
ases
of
draw
als
unde
r E
FF
.(j
)S
DR
237
.49
mill
ion
wer
e us
ed f
or r
epur
chas
es o
f dr
awal
s un
der
EF
F.
(k)
SD
R
95.8
4 m
illio
n w
ere
used
for
rep
urch
ases
of
draw
als
unde
r E
FF
.(l
)S
DR
337
.49
mill
ion
wer
e us
ed f
or r
epur
chas
es o
f dr
awal
s un
der
EF
F.
(m)
SD
R 2
37.4
9 m
illio
n w
ere
used
for
rep
urch
ases
of
draw
als
unde
r E
FF
.(n
)S
DR
678
.38
mill
ion
wer
e us
ed f
or r
epur
chas
es o
f dr
awal
s un
der
EF
F.
(o)
SD
R 4
99.2
9 m
illio
n w
ere
used
for
rep
urch
ases
of
draw
als
unde
r E
FF
.(p
)S
DR
212
.46
mill
ion
wer
e us
ed f
or r
epur
chas
es o
f dr
awal
s un
der
EF
F.
Not
es:
1) F
igur
es a
fter
196
5-66
are
not
com
para
ble
with
tho
se o
f th
e ea
rlie
r ye
ars
owin
g to
dev
alua
tion
of t
h ru
pee
in J
une
1966
.2)
Als
o fig
ures
for
Jul
y 19
91 a
re n
ot c
ompa
rabl
e w
ith t
hose
of
earl
er p
erio
ds d
ue t
o th
e do
wnw
ard
adju
stm
ent
of t
he R
upee
eff
ecte
d on
Jul
y 1
& 3
, 19
91.
3) D
raw
als,
Rep
urch
ase
and
Out
stan
ding
rep
urch
ase
Obl
igat
ions
are
cal
cula
ted
at t
he r
ulin
g ra
tes
of e
xcha
nge.
4) G
old
is v
alue
d at
Rs.
53.
58 p
er 1
0 gr
ams
up t
o M
ay 1
966
and
at R
s. 8
4.39
per
10
gram
s of
gol
d up
to
Sep
tem
ber
1990
and
clo
ser
to i
nter
natio
nal
mar
ket
pric
e w
.e.f
. O
ctob
er 1
7,19
90.
5) F
orei
gn E
xcha
nge
incl
udes
a)
For
eign
ass
ets
of t
he R
eser
ve B
ank
of I
ndia
b)
Gov
ernm
ent
bal
ance
hel
d ab
road
up
to 1
955-
56.
6) W
hile
res
erve
s pe
rtai
n to
end
per
iod,
rep
urch
ases
are
for
the
rel
evan
t pe
riod
.7)
Im
port
cov
er i
s ar
rive
d at
by
divi
ding
to
tal
rese
rves
with
im
port
s (b
oth
in $
mill
ion)
and
mul
tiply
ing
the
resu
lt by
12.
Sou
rces
:G
over
nmen
t of
Ind
ia,
Eco
nom
ic S
urve
y (v
ario
us i
ssue
s) a
nd R
BI,
Ann
ual
Rep
ort
(var
ious
iss
ues)
Balance of Payments 14
15 Balance of Payments
Tab
le 3
: F
inan
cin
g o
f C
urr
ent
Acc
ou
nt
Def
icit
s :
1950
-51
to 2
003-
04(R
upee
s, C
rore
)
Fin
ance
d b
y
Cur
rent
Ext
erna
l A
ssis
tanc
eC
omm
erci
al B
orro
win
gN
RI
Dep
osits
IMF
and
SD
RF
orei
gnR
upee
Deb
tO
ther
Mov
emen
tA
ccou
ntA
lloca
tions
Inve
stm
ents
Ser
vice
Cap
ital
in R
eser
ves
Def
icit
Yea
r(C
AD
)N
etP
erce
nt D
raw
als
Rep
ay-
Net
Per
cent
Dra
wal
sR
epay
-N
etP
erce
ntN
etN
etP
erce
ntN
etN
et i
nclu
-(D
ecre
ase+
/of
CA
Dm
ents
of C
AD
men
tsof
CA
Dof
CA
Ddi
ng e
rror
sIn
crea
se-)
and
omis
sion
s(1
)(2
)(3
)(4
)(5
)(6
)(7
)(8
)(9
)(1
0)(1
1)(1
2)(1
3)(1
4)(1
5)(1
6)(1
7)(1
8)
1950
-51
39-5
12.8
813
0-
00
0-
04
10.3
0-9
-29
1951
-52
-163
4728
.860
130
-0
00
-0
42.
50
-53
165
1952
-53
6022
36.7
3513
0-
00
0-
04
6.7
0-6
9-1
7
1953
-54
48-1
020
.82
110
-0
00
--1
78
16.7
00
-29
1954
-55
6-1
016
6.7
111
0-
00
0-
-17
813
3.3
0-5
18
1955
-56
76
85.7
94
0-
00
0-
-724
342.
90
-19
-11
1956
-57
-313
278.
630
30
-0
00
-55
216.
70
-11
221
1957
-58
-431
368.
411
579
**0
-0
00
-35
30.
70
9826
0
1958
-59
-327
218
66.7
226
70
-0
00
-0
103.
10
5742
1959
-60
-186
175
94.1
187
120
-0
00
--2
452
28.0
0-3
316
1960
-61
-392
219
55.9
257
380
-0
00
--1
128
7.1
097
59
1961
-62
-307
214
69.7
274
600
-0
00
-58
309.
80
-16
1962
-63
-354
343
96.9
396
530
-0
00
-12
00.
00
-32
1963
-64
-349
388
111.
244
657
0-
00
0-
-24
267.
40
-30
-11
1964
-65
-468
544
116.
262
278
0-
00
0-
047
10.0
0-1
7956
1965
-66
-510
475
93.1
560
850
-0
00
-30
183.
50
35-4
8
1966
-67
-843
822
97.5
966
144
0-
00
0-
4631
3.7
0-9
337
1967
-68
-807
831
103.
010
2719
50
-0
00
-24
374.
60
-14
-71
1968
-69
-410
645
157.
383
018
50
-0
00
--5
928
6.8
0-1
66-3
8
1969
-70
-234
469
200.
468
421
50
-0
00
--3
024
10.3
09
-238
1970
-71
-445
504
113.
373
523
116
-427
110
--7
936
8.1
0-1
2189
1971
-72
-499
508
101.
875
824
910
-230
210
-75
448.
80
-43
-95
1972
-73
-312
377
120.
866
328
654
-17
7723
0-
030
9.6
0-1
8233
1973
-74
1135
@@
465
41.0
872
407
726
102
290
-62
524.
60
-14
-84
1974
-75
-956
854
89.3
1137
283
156
-16
195
400
-48
569
7.2
0-6
01-7
1975
-76
-178
1219
684.
815
5333
423
1-1
3029
160
3620
.221
8-8
4.5
0-6
88-8
30
1976
-77
894
1270
142.
116
5138
116
318
235
7216
718
.7-3
06-2
62.
90
-766
-139
6
1977
-78
1124
882
78.5
1360
478
343
116
8320
017
.8-2
88-1
00.
90
-396
-154
6
1978
-79
-238
455
191.
293
347
816
4-6
925
389
156
65.5
-74
2410
.10
513
-100
0
1979
-80
-553
656
118.
611
9854
244
-811
571
162
29.3
4270
12.7
0-5
2-3
69
1980
-81
-221
411
1250
.218
0469
119
9-9
316
117
178
8.0
383
--
--1
7751
6
(Con
td)
Balance of Payments 16T
able
3:
Fin
anci
ng
of
Cu
rren
t A
cco
un
t D
efic
its
: 19
50-5
1 to
200
2-03
(C
oncl
uded
)(R
upee
s, C
rore
)
Fin
ance
d b
y
Cur
rent
Ext
erna
l A
ssis
tanc
eC
omm
erci
al B
orro
win
gN
RI
Dep
osits
IMF
and
SD
RF
orei
gnR
upee
Deb
tO
ther
Mov
emen
tA
ccou
ntA
lloca
tions
Inve
stm
ents
Ser
vice
Cap
ital
in R
eser
ves
Def
icit
Yea
r(C
AD
)N
etP
erce
nt D
raw
als
Rep
ay-
Net
Per
cent
Dra
wal
sR
epay
-N
etP
erce
ntN
etN
etP
erce
ntN
etN
et i
nclu
-(D
ecre
ase+
/of
CA
Dm
ents
of C
AD
men
tsof
CA
Dof
CA
Ddi
ng e
rror
sIn
crea
se-)
and
omis
sion
s(1
)(2
)(3
)(4
)(5
)(6
)(7
)(8
)(9
)(1
0)(1
1)(1
2)(1
3)(1
4)(1
5)(1
6)(1
7)(1
8)
1981
-82
-283
974
626
.313
6762
214
6-5
373
227
206
7.3
635
--
--5
1316
18
1982
-83
-328
011
2534
.317
7565
073
2-2
294
321
138
311
.718
95-
--
-228
-625
1983
-84
-331
611
8335
.719
2574
178
5-2
410
5426
970
921
.413
51-
--
59-7
73
1984
-85
-287
314
0749
.019
5354
611
10-3
914
7236
287
930
.659
--
-34
2-9
26
1985
-86
-595
616
7628
.124
8180
511
67-2
018
2766
017
6729
.7-2
65-
--
904
707
1986
-87
-583
018
0831
.030
5612
4925
13-4
343
0417
9116
5028
.3-6
7224
94.
324
9-4
5073
2
1987
-88
-629
329
4546
.8-4
614
1669
1266
-20
3208
1942
1840
29.2
-120
956
38.
956
3-6
995
6
1988
-89
-104
1032
1030
.848
6016
5027
43-2
642
6515
2236
3634
.9-1
547
517
5.0
517
1572
1449
1989
-90
-983
030
9031
.449
9819
0929
58-3
048
2318
6540
0040
.7-1
460
683
6.9
683
886
1232
1990
-91
-173
6639
6522
.860
9521
2940
35-2
376
3035
9527
5615
.921
7818
31.
1-2
140
4096
2293
1991
-92
-223
573
9533
0.9
1071
533
2038
07-1
7078
5240
4510
0845
.120
7733
915
.2-2
785
-256
-935
1
1992
-93
-127
6357
4845
.010
172
4424
-109
59
3583
4677
6097
47.8
3363
1699
13.3
-233
517
68-2
481
1993
-94
-363
459
6416
4.1
1090
449
4019
05-5
291
3772
3237
8010
4.0
587
1328
136
5.5
-330
287
86-2
7366
1994
-95
-105
8247
9845
.310
025
5227
3238
-31
1304
198
0353
95.
1-3
585
1508
814
2.6
-309
078
11-1
4575
1995
-96
-196
4633
5617
.110
101
6895
4548
-23
1444
098
9238
2119
.4-5
749
1562
479
.5-3
106
-933
497
98
1996
-97
-162
8139
9824
.610
893
7071
1000
4-6
126
867
1686
311
894
73.1
-346
121
162
130.
0-2
542
-468
1-2
0759
1997
-98
-208
8334
6116
.610
826
7365
1460
1-7
027
254
1265
343
2520
.7-2
286
1983
295
.0-2
784
-198
7-1
4367
1998
-99
-167
8934
8520
.811
507
8022
1857
8-1
1130
645
1206
740
6024
.2-1
652
9737
58.0
-330
820
72-1
6593
1999
-00
-203
3139
1519
.313
339
9424
1447
-713
910
1246
367
0933
.0-1
122
2218
410
9.1
-305
916
675
-266
48
2000
-01
-115
9820
0217
.313
521
1151
920
171
-174
4445
524
284
1056
191
.1-1
1535
054
302.
2-2
760
-143
96-2
7528
2001
-02
1642
654
0932
.916
070
1066
1-7
528
-46
1284
520
373
1312
779
.9-
3192
019
4.3
-245
750
45-5
6593
2002
-03
3066
0-1
5020
49.0
1390
228
922
-822
0-2
716
976
2519
614
424
47.0
-20
098
65.6
-230
645
667
-820
37
2003
-04
4795
2-1
2500
26.1
1526
927
769
-694
2-1
430
073
3701
516
869
35.2
-67
592
141.
0-1
758
3637
1-1
4399
4
**In
clud
es s
ilver
dis
patc
hed
to U
SA
and
del
iver
ed t
o th
e A
mer
ican
em
bass
y va
lues
at
Rs.
64.
8 cr
ore
duri
ng A
pril-
June
195
7 an
d R
s. 9
.6 c
rore
dur
ing
June
-Sep
tem
ber
1957
in
fulfi
lmen
t of
lead
-lea
se o
blig
atio
ns.
#In
clud
es I
ndia
Dev
elop
men
t B
onds
@O
ther
cap
ital
incl
udes
ban
king
cap
ital
net
of n
on-r
esid
ents
dep
osits
but
exc
lude
s sh
ort-
term
cap
ital.
@@
The
net
fig
ure
as p
er l
ates
t da
ta i
s -1
123,
whi
ch i
s af
ter
excl
udin
g ce
rtai
n pr
epay
men
ts.
Not
es:
* R
ecei
pts/
disb
urse
men
ts f
or t
he y
ear
1973
-74
excl
ude
Rs.
166
4 cr
ore
as o
ffic
ial
gran
t re
ceip
ts/a
mor
tisat
ion
unde
r th
e ag
reem
ent
date
d F
eb.1
8, 1
974
betw
een
the
gove
rnm
ent
of I
ndia
and
US
A.
Sig
ns h
ave
been
ign
ored
in
colu
mns
4,
8, 1
2, 1
5S
ourc
e:
RB
I B
ulle
tin,
Aug
ust
2004
and
ear
lier
issu
es
17 Balance of Payments
Tab
le 4
: B
alan
ce o
f P
aym
ents
-Sel
ecte
d I
nd
icat
ors
: 1
950-
51 t
o 2
001-
02
Yea
rE
xpor
t as
Impo
rt a
sM
erch
andi
seIn
visi
bles
as
Exp
orts
of
Impo
rts
ofC
urre
ntM
erch
andi
seN
et I
nvis
ible
sG
ross
Pri
vate
Per
cent
age
Per
cent
age
as p
erce
ntag
eP
erce
ntag
eG
oods
and
Goo
ds a
ndA
ccou
ntD
efic
it as
as P
er C
ent
ofT
rans
fer
asin
GD
P i
n G
DP
of G
DP
of G
DP
Ser
vice
s as
Ser
vice
s as
Def
icit
asP
erce
ntag
eM
erch
andi
sepe
rcen
tage
Per
cent
age
Per
cent
age
Per
cent
age
of C
urre
ntD
efic
itof
:of
GD
Pof
GD
Pof
:A
ccou
nt(2
+6)
(3+
7)D
efic
itN
etR
ecP
ayG
DP
GD
CF
Mer
ch.
Inv.
Def
icit
Rec
.
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
(12)
(13)
(14)
(15)
1950
-51
6.5
6.5
13.1
0.4
1.4
1.0
7.9
7.5
0.4
4.5
-7.7
-136
6.7
1366
.729
.5
1951
-52
6.9
9.1
16.0
0.7
1.7
1.0
8.6
10.2
-1.5
-14.
014
3.6
-30.
320
.526
.7
1952
-53
5.8
6.1
11.9
0.9
1.9
1.0
7.7
7.1
0.6
7.3
-51.
7-3
00.0
167.
726
.7
1953
-54
4.8
5.2
10.0
0.9
1.7
0.8
6.5
6.1
0.4
5.5
-108
.3-1
94.2
92.3
25.0
1954
-55
5.6
6.5
12.0
0.9
1.9
1.0
7.5
7.5
0.1
0.6
-155
0.0
-106
.554
.824
.8
1955
-56
5.9
7.1
13.0
1.3
2.4
1.1
8.2
8.2
0.1
0.5
-190
0.0
-105
.343
.622
.6
1956
-57
4.9
8.5
13.4
1.2
2.1
0.9
7.0
9.4
-2.4
-16.
114
9.2
-33.
013
.724
.1
1957
-58
5.0
9.2
14.2
1.0
1.9
0.9
6.9
10.1
-3.2
-23.
213
0.9
-23.
411
.024
.9
1958
-59
3.9
6.9
10.8
0.8
1.7
0.9
5.6
7.8
-2.2
-18.
313
8.5
-27.
612
.822
.9
1959
-60
4.0
5.9
10.0
0.7
1.6
0.9
5.7
6.8
-1.2
-9.4
160.
8-3
7.8
18.7
22.0
1960
-61
3.7
6.4
10.1
20.
51.
51.
05.
27.
5-2
.3-1
5.9
121.
2-1
7.3
9.5
17.3
1961
-62
3.7
5.5
9.20
0.2
1.3
1.1
5.0
6.6
-1.7
-12.
411
0.5
-9.2
12.1
17.4
1962
-63
3.5
5.6
9.09
0.3
1.5
1.1
4.9
6.7
-1.8
-12.
111
7.5
-14.
99.
614
.1
1963
-64
3.6
5.5
9.1
0.4
1.5
1.0
5.0
6.6
-1.6
-10.
912
6.9
-21.
010
.614
.4
1964
-65
3.1
5.4
8.5
0.6
1.5
1.0
4.6
6.4
-1.8
-12.
613
2.5
-24.
46.
810
.3
1965
-66
2.8
4.9
7.8
0.3
1.3
1.0
4.1
5.9
-1.8
-11.
411
4.1
-12.
513
.422
.5
1966
-67
3.5
6.4
9.8
0.2
1.5
1.3
4.9
7.6
-2.7
-15.
910
7.2
-6.6
8.1
15.9
1967
-68
3.4
5.6
9.1
0.0
1.2
1.2
4.6
6.8
-2.2
-15.
699
.30.
69.
016
.5
1968
-69
3.5
4.6
8.1
0.0
1.2
1.2
4.8
5.8
-1.1
-8.0
103.
7-3
.521
.619
.1
1969
-70
3.3
3.7
7.0
-0.1
1.0
1.2
4.3
4.9
-0.5
-3.7
73.1
36.3
57.3
22.3
1970
-71
3.1
4.0
7.1
-0.1
1.1
1.2
4.2
5.2
-1.0
-6.3
91.9
9.1
24.7
20.4
1971
-72
3.2
4.2
7.4
0.0
1.1
1.2
4.3
5.4
-1.0
-6.4
95.2
5.1
24.4
221
.3
1972
-73
3.7
4.0
7.7
-0.3
1.0
1.2
4.6
5.2
-0.6
-3.8
54.0
85.7
66.0
721
.6
1973
-74
3.6
4.4
8.0
2.5
3.5
1.0
7.1
5.3
1.7
10.0
-44.
9-3
22.7
30.9
86.
9
1974
-75
4.1
5.8
9.9
0.4
1.3
0.8
5.4
6.6
-1.2
-7.3
134.
6-2
5.7
18.2
623
.9
1975
-76
5.0
6.4
11.5
1.2
2.2
1.0
7.2
7.4
-0.2
-1.3
664.
6-8
4.9
38.3
825
.0
1976
-77
5.7
6.1
11.8
1.3
2.5
1.1
8.2
7.2
1.0
5.6
-34.
7-3
88.5
245.
8134
.6
1977
-78
5.4
5.9
11.3
1.7
2.7
1.0
8.1
7.0
1.1
6.0
-53.
1-2
88.4
185.
5940
.0
1978
-79
5.1
7.1
12.2
1.8
2.9
1.1
8.0
8.2
-0.2
-1.0
929.
4-8
9.2
50.1
834
.9
1979
-80
5.2
8.1
8.6
2.4
3.6
1.2
8.9
9.3
-0.5
-2.2
622.
1-8
3.9
51.2
240
.2
(Con
td)
Balance of Payments 18T
able
4:
Bal
ance
of
Pay
men
ts-S
elec
ted
In
dic
ato
rs :
195
0-51
to
200
1-02
(C
oncl
uded
)
Yea
rE
xpor
t as
Impo
rt a
sM
erch
andi
seIn
visi
bles
as
Exp
orts
of
Impo
rts
ofC
urre
ntM
erch
andi
seN
et I
nvis
ible
sG
ross
Pri
vate
Per
cent
age
Per
cent
age
as p
erce
ntag
eP
erce
ntag
eG
oods
and
Goo
ds a
ndA
ccou
ntD
efic
it as
as P
er C
ent
ofT
rans
fer
asin
GD
P i
n G
DP
of G
DP
of G
DP
Ser
vice
s as
Ser
vice
s as
Def
icit
asP
erce
ntag
eM
erch
andi
sepe
rcen
tage
Per
cent
age
Per
cent
age
Per
cent
age
of C
urre
ntD
efic
itof
:of
GD
Pof
GD
Pof
:A
ccou
nt(2
+6)
(3+
7)D
efic
itN
etR
ecP
ayG
DP
GD
CF
Mer
ch.
Inv.
Def
icit
Rec
.
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
(12)
(13)
(14)
(15)
1980
-81
4.6
9.0
13.6
2.8
3.9
1.2
8.6
10.1
-1.5
-7.6
280.
5-6
4.4
34.4
137
.7
1981
-82
4.6
8.5
5.4
2.2
3.4
1.2
8.0
9.6
-1.7
-8.4
228.
7-5
6.3
32.0
836
.8
1982
-83
4.9
8.4
13.3
1.8
3.2
1.4
8.1
9.8
-1.7
-8.9
204.
8-5
1.2
36.1
840
.1
1983
-84
4.6
7.8
12.4
1.6
3.1
1.5
7.8
9.3
-1.5
-8.1
208.
8-5
2.1
38.2
438
.4
1984
-85
4.9
7.6
12.5
1.6
3.4
1.8
8.2
9.4
-1.2
-5.8
233.
9-5
7.3
44.3
736
.2
1985
.86.
4.2
7.6
11.8
1.3
2.8
1.5
7.0
9.1
-2.1
-9.9
160.
9-3
7.9
22.0
726
.9
1986
-87
4.3
7.3
11.6
1.1
2.7
1.5
6.9
8.8
-1.9
-8.9
160.
4-3
7.7
31.9
836
.1
1987
-88
4.6
7.3
11.9
0.8
2.6
1.8
7.2
9.0
-1.8
-7.9
147.
7-3
2.3
38.0
138
.1
1988
-89
4.9
8.1
13.0
0.5
2.6
2.1
7.5
10.2
-2.7
-11.
611
7.1
-14.
628
.54
35.4
1989
-90
5.8
8.4
14.2
0.2
2.6
2.4
8.4
10.7
-2.3
-9.5
109.
0-8
.330
.81
30.6
1990
-91
5.8
8.8
7.3
-0.1
2.4
2.4
8.2
11.2
-3.1
-11.
697
.52.
622
.07
27.9
1991
-92
6.9
7.9
14.8
0.7
3.6
2.9
10.5
10.8
-0.3
-1.5
290.
6-6
5.6
145.
0440
.2
1992
-93
7.3
9.6
16.9
0.6
3.6
3.0
10.9
12.6
-1.7
-7.2
135.
1-2
6.0
65.3
241
.6
1993
-94
8.3
9.8
18.0
1.1
4.1
3.1
12.4
12.8
-0.4
-1.8
350.
1-7
1.4
130.
3346
.7
1994
-95
8.3
11.1
19.5
1.8
4.8
3.1
13.1
14.2
-1.0
-4.0
268.
5-6
2.8
89.6
352
.2
1995
-96
9.1
12.3
21.5
1.6
5.0
3.5
14.1
15.8
-1.7
-6.2
193.
7-4
8.4
75.5
948
.4
1996
-97
8.9
12.7
21.6
2.7
5.6
2.9
14.4
15.6
-1.2
-4.9
322.
8-6
9.0
84.1
158
.1
1997
-98
8.7
12.5
21.2
2.4
5.7
3.2
14.4
15.8
-1.4
-5.6
276.
8-6
3.9
76.0
050
.9
1998
-99
8.3
11.5
19.8
2.2
6.2
4.0
14.5
15.5
-1.0
-4.3
330.
4-6
9.7
78.4
040
.1
1999
-00
8.4
12.4
20.8
2.9
6.8
3.8
15.2
16.2
-1.0
-4.1
380.
579
.668
.87
40.5
2000
-01
9.9
12.7
22.6
2.2
7.1
4.9
17.0
17.6
-0.6
2.3
489.
279
.610
7.10
41.1
2001
-02
9.3
11.8
21.1
3.1
7.7
4.6
17.0
16.3
0.7
3.1
334.
612
9.9
139.
8043
.9
2002
-03*
10.5
12.6
23.2
3.2
8.2
4.9
18.7
17.5
1.2
5.3
168.
6-1
59.3
168.
3042
.9
2003
-04
10.7
13.3
24.0
4.3
8.8
4.5
19.5
17.7
1.7
-14
8.8
167.
215
1.40
42.4
* =
Est
imat
ed,
Rec
.:-
Rec
eipt
sP
ay.:
-P
aym
ents
, G
DC
F:-
Gro
ss D
omes
tic C
apita
l F
orm
atio
n.-
:-N
ot A
vaila
ble,
Exp
.:-E
xpor
ts,
Imp.
:-Im
port
sN
otes
:G
DP
fig
ures
for
200
0-01
are
pro
visi
onal
.G
DP
fig
ures
are
tak
en a
t cu
rren
t m
arke
t pr
ices
GD
P f
igur
es f
or 2
001-
02 a
re q
uick
est
imat
es.
In C
olum
ns 1
3 &
14,
sig
ns a
re i
gnor
ed.
Sou
rces
:R
BI,
Rep
ort
on C
urre
ncy
and
Fin
ance
, (v
ario
us i
ssue
s),
and
RB
I, A
nnua
l R
epor
t, (v
ario
us i
ssue
s).
19 Balance of Payments
Ap
pen
dix
1(A
): B
alan
ce o
f P
aym
ents
: 1
950-
51 t
o 1
989-
90
1950
-51
1951
-52
1952
-53
1953
-54
1954
-55
1955
-56
1956
-57
1957
-58
1958
-59
1959
-60
Rs
Cr
$ M
nR
s C
r$
Mn
Rs
Cr
$ M
nR
s C
r$
Mn
Rs
Cr
$ M
nR
s C
r$
Mn
Rs
Cr
$ M
nR
s C
r$
Mn
Rs
Cr
$ M
nR
s C
r$
Mn
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
(12)
(13)
(14)
(15)
(16)
(17)
(18)
(19)
(20)
(21)
(1)
Cu
rren
t A
cco
un
t(N
et)
3982
-163
-342
6012
647
100
613
714
-313
-657
-431
-906
-327
-687
-186
-390
Rec
eipt
s78
616
4690
919
0979
516
7173
015
3480
116
8389
018
6990
118
9291
819
2882
917
4288
818
64
P
aym
ents
747
1564
1072
2251
735
1544
683
1435
795
1670
896
1883
1214
2549
1349
2834
1156
2429
1073
2254
(a
) M
erch
andi
se-4
-8-2
33-4
89-3
1-6
5-5
2-1
09-9
3-1
95-1
33-2
79-4
67-9
81-5
65-1
186
-453
-952
-299
-628
Exp
orts
f o
b64
713
5573
015
3460
212
6454
011
3459
712
5364
013
4563
513
3466
914
0557
612
1163
313
30
Im
port
s c
i f
650
1366
964
2025
633
1330
592
1243
690
1449
773
1624
1102
2315
1233
2591
1029
2162
932
1959
(b
) In
visi
bles
(N
et)
4288
7115
091
192
100
209
9920
813
929
215
432
413
328
025
353
211
323
8
R
ecei
pts
140
293
179
376
193
406
191
401
205
430
256
538
266
558
249
523
127
267
254
534
Pay
men
ts97
203
108
226
102
214
9119
210
522
111
624
511
123
411
624
312
626
514
129
6(2
) C
apit
al A
cou
nt
(Net
)-4
-843
9060
126
-4-8
511
2960
3778
145
304
314
659
218
458
Rec
eipt
s84
176
122
256
795
1671
6313
273
153
8618
015
432
433
169
541
988
143
992
2
P
aym
ents
8718
279
166
735
1544
6613
967
142
5712
011
724
618
639
110
622
222
146
4
(a
) P
riva
te (
Net
)-1
4-2
9-1
0-2
2-6
-12
-11
-23
-5-1
010
22-2
2-4
64
7-2
0-4
2-5
-10
R
ecei
pts
1531
1633
2246
2450
2756
3983
3778
5010
434
7243
91
Pay
men
ts29
6126
5428
5919
4131
6626
5459
124
4697
5411
448
101
(b)
Off
icia
l (N
et)
-12
-25
3063
2961
918
1736
919
7215
015
332
032
969
121
044
2
(
I) L
oans
817
6012
535
742
31
19
2030
6410
021
022
647
418
739
3
Rec
eipt
s8
1760
126
3574
23
11
920
3064
115
242
226
474
187
393
Pay
men
ts0
00
00
00
00
00
00
015
320
00
0
(i
i) A
mor
tisat
ion
-3-6
-1-3
-3-7
-3-6
1123
612
37
-73
-153
2860
-12
-25
Rec
eipt
s10
2112
2510
208
1722
459
207
156
1336
751
1
P
aym
ents
1327
1327
1327
1124
1122
48
36
7916
67
1512
26
(i
ii) M
isce
llane
ous
-17
-36
-29
-60
-3-6
1021
612
-6-1
238
8012
526
375
158
3573
R
ecei
pts
1327
24
817
1327
715
817
5511
613
728
793
196
172
360
P
aym
ents
3063
3064
1124
36
1226
1429
1837
1124
1838
137
287
(c)
Ban
king
exc
ludi
ng R
BI
2246
2348
-36
-76
-1-3
49
919
-13
-26
-11
-23
510
1326
R
ecei
pts
3880
3369
1430
1634
1737
2348
2552
2450
3164
3676
P
aym
ents
1634
1021
5010
517
3713
2714
2937
7835
7326
5424
50(3
) IM
F (
SD
R A
lloca
tio
n)
00
00
00
-17
-36
-17
-36
-7-1
555
115
3574
00
-24
-50
Rec
eipt
s0
00
00
00
00
00
061
128
3572
00
00
Pay
men
ts0
00
00
017
3617
367
156
130
00
024
50(4
) C
apit
al A
cco
un
t, I
MF
an
d S
DR
Allo
catio
n-4
-843
90-1
8-3
7-2
1-4
492
193
2145
9219
317
937
731
465
919
440
8
Rec
eipt
s84
176
122
256
8417
663
132
215
451
8618
021
545
136
576
741
988
143
992
2
Pay
men
ts87
182
7916
610
221
484
176
123
258
6413
512
325
818
639
110
622
224
551
4(5
) T
ota
l C
urr
ent
Acc
ou
nt,
Cap
ital
Acc
ou
nt
IM
F a
nd
SD
R A
lloca
tio
n35
73-1
20-2
52-1
8-3
727
56-1
2-2
528
59-2
21-4
64-2
52-5
29-1
3-2
89
19
R
ecei
pts
870
1822
1031
2165
8417
679
316
6673
153
982
2063
1115
2343
1283
2695
1249
2623
1327
2787
Pay
men
ts83
517
4811
5124
1710
221
476
716
1185
178
954
2004
1336
2808
1535
3225
1262
2651
1318
2769
(6)
Err
ors
an
d O
mis
sio
ns
-7-1
5-4
5-9
5-2
6-5
42
5-1
8-3
7-1
8-3
70
-18
17-2
9-6
1-2
5-5
1(7
) R
eser
ves
and
Mo
net
ary
Go
ld-2
9-6
116
434
517
35-2
9-6
111
22-1
1-2
2-2
21-4
6526
054
642
8916
34
Mem
o I
tem
s :
N
on-m
onet
ary
gold
m
ovem
ent(
Net
)0
00
00
00
00
00
00
00
00
00
0
(Con
td)
Balance of Payments 20A
pp
end
ix 1
(A):
Bal
ance
of
Pay
men
ts :
195
0-51
to
198
9-90
1960
-61
1961
-62
1962
-63
1963
-64
1964
-65
1965
-66
1966
-67
1967
-68
1968
-69
1969
-70
Rs
Cr
$ M
nR
s C
r$
Mn
Rs
Cr
$ M
nR
s C
r$
Mn
Rs
Cr
$ M
nR
s C
r$
Mn
Rs
Cr
$ M
nR
s C
r$
Mn
Rs
Cr
$ M
nR
s C
r$
Mn
(1)
(22)
(23)
(24)
(25)
(26)
(27)
(28)
(29)
(30)
(31)
(32)
(33)
(34)
(35)
(36)
(37)
(38)
(39)
(40)
(41)
(1)
Cu
rren
t A
cco
un
t(N
et)
-392
-824
-125
2-2
630
-211
2-4
437
-297
2-6
244
-383
2-8
050
-469
2-9
857
844
1191
-808
-107
7-4
10-5
47-2
34-3
12
R
ecei
pts
890
1870
2844
5975
965
2027
1128
2369
1208
2537
1129
2372
1546
2183
1696
2261
1849
2466
1844
2459
Pay
men
ts12
8326
9512
0925
4013
1927
7114
7731
0316
7635
2016
4034
4623
9033
7425
0333
3722
6030
1320
7827
71
(a)
Mer
chan
dise
-475
-998
-338
-709
-416
-874
-443
-932
-620
-130
2-5
83-1
226
-905
-127
7-8
02-1
070
-425
-567
-171
-227
Exp
orts
f o
b63
113
2666
814
0468
114
3080
216
8480
116
8378
516
4810
8715
3412
6016
8013
6718
2314
0518
74
Im
port
s c
i f
1106
2324
1006
2113
1097
2304
1245
2616
1420
2983
1368
2874
1991
2811
2063
2750
1792
2390
1576
2101
(b
) In
visi
bles
(N
et)
8317
431
6662
130
9419
715
231
973
153
6186
-5-7
1519
-63
-85
Rec
eipt
s26
054
623
449
228
459
732
668
540
785
434
572
446
064
943
658
148
264
343
958
5
P
aym
ents
177
372
203
426
222
467
232
487
255
535
272
572
399
563
441
588
467
623
502
669
(2)
Cap
ital
Aco
un
t (N
et)
350
735
234
491
334
701
439
921
461
968
542
1138
748
1056
938
1250
626
835
521
695
Rec
eipt
s49
910
4849
110
3255
011
5463
013
2484
817
8292
319
3814
0619
8516
1921
5812
1816
2310
4113
87
P
aym
ents
149
313
258
541
216
453
191
402
388
815
381
801
658
929
681
908
592
789
519
692
(a)
Pri
vate
(N
et)
1736
-4-8
-1-2
511
511
37
1115
57
911
-3-5
R
ecei
pts
5210
933
6945
9548
101
4910
352
110
8411
868
9171
9479
105
P
aym
ents
3574
3676
4696
4390
4492
6012
673
103
6384
6283
8211
0
(b
) O
ffic
ial
(Net
)32
468
124
250
832
768
643
390
947
299
253
011
1474
110
4612
7817
0463
584
750
967
9
(
I) L
oans
252
529
274
576
396
831
446
936
594
1248
531
1116
906
1279
980
1307
806
1075
654
872
R
ecei
pts
257
540
274
576
396
831
446
936
594
1248
531
1116
906
1280
987
1316
811
1081
661
881
Pay
men
ts5
110
00
00
00
00
01
17
95
67
9
(i
i) A
mor
tisat
ion
-35
-74
-58
-122
-51
-107
-55
-116
-63
-132
-73
-153
-127
-179
176
235
-156
-208
-177
-236
Rec
eipt
s3
62
42
42
45
92
32
32
33
44
6
P
aym
ents
3880
6012
753
111
5712
067
142
7415
612
818
117
823
715
921
318
124
1
(i
ii) M
isce
llane
ous
107
225
2654
-18
-38
4289
-59
-124
7215
0-3
9-5
412
216
3-1
5-2
032
42
Rec
eipt
s14
430
314
029
460
125
7816
515
833
327
056
831
644
641
555
328
037
323
631
4
Pay
men
ts37
7811
423
978
164
3676
217
456
199
417
355
501
293
390
294
393
204
272
(c)
Ban
king
exc
ludi
ng R
BI
1021
-4-9
817
12
-17
-36
817
-4-5
68
-17
-23
1520
R
ecei
pts
4492
4389
4799
5611
842
8956
118
9813
914
719
653
7161
81
Pay
men
ts34
7147
9839
8255
116
6012
548
101
102
144
141
187
7194
79
(3)
IMF
(S
DR
Allo
cati
on
)0
058
123
1225
-24
-50
00
3063
4665
2433
-59
-78
3040
Rec
eipt
s0
011
925
012
250
048
100
6613
889
126
6890
00
9512
6
P
aym
ents
00
6112
80
024
5048
101
3675
4361
4358
5979
125
167
(4)
Cap
ital
Acc
ou
nt,
IM
F a
nd
SD
R A
lloca
tion
340
714
292
614
346
726
415
871
461
968
571
1200
794
1121
962
1283
568
757
490
654
Rec
eipt
s49
910
4861
112
8356
111
7963
013
2498
620
7198
820
7614
9521
1116
8622
4812
1816
2311
3515
13
P
aym
ents
160
336
318
668
216
453
215
452
435
915
417
876
701
990
724
966
650
867
645
860
(5)
To
tal
Cu
rren
t A
cco
un
t, C
apit
al A
cco
un
t
I
MF
an
d S
DR
Allo
cati
on
-53
-111
-14
-30
-8-1
765
137
-7-1
661
127
-50
-70
154
206
157
210
256
342
Rec
eipt
s13
9029
2015
1331
7915
2632
0717
5836
9221
0444
1921
1844
4930
4142
9433
8245
0930
6740
8929
7939
73
P
aym
ents
1443
3032
1527
3208
1535
3224
1692
3555
2111
4435
2057
4321
3091
4364
3227
4303
2910
3880
2723
3631
(6)
Err
ors
an
d O
mis
sio
ns
-6-1
38
166
12-5
5-1
15-4
9-1
03-1
2-2
613
19-8
4-1
12-1
19-1
59-1
8-2
5(7
) R
eser
ves
and
Mo
net
ary
Go
ld59
124
613
25
-11
-23
5611
8-4
8-1
0137
52-7
1-9
4-3
8-5
1-2
38-3
17
Mem
o I
tem
s :
N
on-m
onet
ary
gold
m
ovem
ent(
Net
)0
00
00
00
00
00
00
00
00
00
0
(Con
td)
21 Balance of Payments
Ap
pen
dix
1(A
): B
alan
ce o
f P
aym
ents
: 1
950-
51 t
o 1
989-
90
1970
-71
1971
-72
1972
-73
1973
-74
1974
-75
1975
-76
1976
-77
1977
-78
1978
-79
1979
-80
Rs
Cr
$ M
nR
s C
r$
Mn
Rs
Cr
$ M
nR
s C
r$
Mn
Rs
Cr
$ M
nR
s C
r$
Mn
Rs
Cr
$ M
nR
s C
r$
Mn
Rs
Cr
$ M
nR
s C
r$
Mn
(1)
(42)
(43)
(44)
(45)
(46)
(47)
(48)
(49)
(50)
(51)
(52)
(53)
(54)
(55)
(56)
(57)
(58)
(59)
(60)
(61)
(1)
Cu
rren
t A
cco
un
t(N
et)
-445
-593
-499
-666
-311
-405
1135
1457
-956
-120
4-1
78-2
0589
499
611
2413
09-2
38-2
89-5
53-6
83
R
ecei
pts
1914
2552
2126
2839
2508
3266
4638
5954
4180
5264
5995
6906
7344
8178
8208
9367
8779
1066
710
699
1320
9
P
aym
ents
2359
3121
2635
3518
2819
3671
2489
3195
5136
6468
6173
7111
6450
7182
7083
8084
9017
1095
611
253
1389
2
(a)
Mer
chan
dise
-409
-541
-475
-634
-168
-218
-510
-655
-128
7-1
621
-118
3-1
362
-310
-345
-597
-682
-221
2-2
688
-344
0-4
247
Exp
orts
f o
b14
1818
7615
8121
1019
9425
9623
5730
2531
9540
2441
8048
1551
4057
2354
4062
0955
9467
9761
375
7
Im
port
s c
i f
1826
2416
2055
2744
2161
2814
2867
3680
4482
5645
5362
6178
5450
6069
6038
6890
7806
9485
9753
1204
1
(b)
Invi
sibl
es (
Net
)-3
7-4
9-2
4-3
2-1
44-1
8716
4621
1233
141
710
0511
5712
0413
4117
2219
6519
7423
9928
8735
64
R
ecei
pts
496
656
546
728
514
670
2281
2929
985
1241
1815
2091
204
227
2767
3158
3185
3870
4386
5415
Pay
men
ts53
370
557
076
165
885
763
681
665
482
481
093
310
0011
1410
4611
9312
1114
7115
0018
51(2
) C
apit
al A
cou
nt
(Net
)50
266
449
966
638
349
9-9
26-1
189
704
887
1003
1156
1088
1212
585
667
-238
-289
-553
-683
Rec
eipt
s11
9415
8021
2628
3911
3214
7415
6320
0620
4425
7424
9128
7026
2629
2424
3327
7787
7910
667
1069
913
209
Pay
men
ts69
291
626
2535
0574
997
524
8931
9513
4016
8814
8817
1415
3817
1318
4821
0990
1710
956
1125
313
892
(a)
Pri
vate
(N
et)
45
2635
3445
4558
100
125
4046
4651
151
172
117
143
6276
R
ecei
pts
104
138
121
161
135
176
151
194
229
288
197
227
412
459
303
346
332
403
254
314
P
aym
ents
100
132
9512
610
113
110
613
713
016
315
618
018
620
715
317
421
426
019
223
8
(b
) O
ffic
ial
(Net
)49
765
858
377
833
743
9-9
90-1
271
652
821
936
1078
928
1033
368
419
469
569
851
1050
(I)
Loa
ns70
693
468
190
959
977
986
911
1611
8414
9116
4718
9717
0518
9813
3515
2493
211
3212
0014
82
R
ecei
pts
719
951
728
971
665
865
895
1149
1214
1529
1730
1993
1776
1978
1364
1557
996
1210
1262
1559
Pay
men
ts13
1747
6366
8626
3330
3883
9671
7929
3364
7862
77
(i
i) A
mor
tisat
ion
-180
-238
-176
-235
-193
-251
-198
6-2
550
-237
-298
-268
-308
-298
-332
-445
-508
-436
-529
-517
-638
Rec
eipt
s12
1639
5256
7314
1813
1632
3743
489
1019
235
6
P
aym
ents
191
253
215
287
249
324
2000
2568
249
314
300
345
341
379
454
518
455
553
522
644
(iii)
Mis
cella
neou
s-2
9-3
878
105
-68
-89
127
163
-295
-371
-443
-510
-479
-533
-523
-596
-28
-34
167
207
R
ecei
pts
312
413
232
310
195
254
420
540
481
606
400
461
339
377
364
415
840
1020
504
622
P
aym
ents
341
451
154
206
264
343
293
376
-295
-371
843
971
818
910
886
1011
868
1054
337
415
(c)
Ban
king
exc
ludi
ng R
BI
00
45
1115
1924
-48
-60
2731
115
128
6776
-8-1
0-8
2-1
01
Rec
eipt
s47
6254
7281
105
8210
610
713
513
215
223
726
439
344
928
634
820
625
5
Pay
men
ts47
6251
6869
9063
8115
519
510
512
112
313
632
737
329
535
828
935
6(3
) IM
F (
SD
R A
lloca
tio
n)
-154
-204
7510
00
062
8048
561
121
825
1-3
06-3
41-2
88-3
28-7
4-9
042
52
R
ecei
pts
00
7510
00
062
8048
561
121
825
10
00
012
615
312
415
4
P
aym
ents
154
204
00
00
00
00
00
306
341
288
329
200
243
8210
1(4
) C
apit
al A
cco
un
t, I
MF
an
d S
DR
Allo
catio
n42
456
168
791
738
349
9-8
64-1
109
1189
1497
1221
1407
782
871
297
339
503
612
872
1077
Rec
eipt
s12
6916
7912
4816
6711
3214
7416
2520
8525
2931
8527
0931
2126
2629
2424
3327
7725
9931
5723
5629
08
P
aym
ents
846
1119
561
749
749
975
2489
3195
1340
1688
1488
1714
1844
2054
2136
2438
2095
2546
1484
1832
(5)
To
tal
Cu
rren
t A
cco
un
t, C
apit
al A
cco
un
t
I
MF
an
d S
DR
Allo
cati
on
-22
-29
188
252
7293
271
348
233
293
1043
1202
1676
1867
1421
1622
266
323
319
394
Rec
eipt
s31
8342
1133
7545
0536
4047
3962
6280
3967
0984
4987
0410
027
9970
1110
310
641
1214
311
377
1382
413
055
1611
7
P
aym
ents
3205
4241
3186
4254
3568
4646
5991
7691
6476
8156
7661
8825
8294
9236
9219
1052
111
112
1350
212
736
1572
4(6
) E
rro
rs a
nd
Om
issi
on
s-6
7-8
9-9
3-1
25-1
05-1
36-1
87-2
40-2
56-3
22-2
14-2
46-2
80-3
1212
514
273
489
251
62(7
) R
eser
ves
and
Mo
net
ary
Go
ld89
118
-95
-127
3343
-84
-108
-7-9
-830
-956
-139
6-1
555
-154
6-1
764
-100
0-1
215
-369
-456
Mem
o I
tem
s :
N
on-m
onet
ary
gold
m
ovem
ent(
Net
)0
131
170
00
00
00
00
00
00
00
00
(Con
td)
Balance of Payments 22A
pp
end
ix 1
(A):
Bal
ance
of
Pay
men
ts :
195
0-51
to
198
9-90
(C
oncl
uded
)
1980
-81
1981
-82
1982
-83
1983
-84
1984
-85
1985
-86
1986
-87
1987
-88
1988
-89
1989
-90
Rs
Cr
$ M
nR
s C
r$
Mn
Rs
Cr
$ M
nR
s C
r$
Mn
Rs
Cr
$ M
nR
s C
r$
Mn
Rs
Cr
$ M
nR
s C
r$
Mn
Rs
Cr
$ M
nR
s C
r$
Mn
(1)
(62)
(63)
(64)
(65)
(66)
(67)
(68)
(69)
(70)
(71)
(72)
(73)
(74)
(75)
(76)
(77)
(78)
(79)
(80)
(81)
(1)
Cu
rren
t A
cco
un
t(N
et)
-221
4-2
800
-283
9-3
166
-328
0-3
393
-331
6-3
207
-287
3-2
417
-595
6-4
868
-583
0-4
563
-629
3-4
853
-104
10-7
188
-983
0-5
904
Rec
eipt
s12
335
1559
813
429
1497
415
199
1572
417
061
1650
020
202
1699
219
453
1589
921
589
1689
525
675
1980
231
573
2180
240
713
2445
4
P
aym
ents
1454
818
397
1626
818
140
1847
919
118
2037
719
707
2307
519
409
2540
920
767
2741
921
458
3196
824
655
4198
328
990
5054
330
358
(a
) M
erch
andi
se-6
211
-785
4-6
494
-724
1-6
719
-695
1-6
925
-669
7-6
721
-565
3-9
586
-783
5-9
354
-732
0-9
296
-717
0-1
3556
-936
1-1
2413
-745
6
E
xpor
ts f
o b
6666
8429
7766
8660
9137
9453
1016
998
3511
959
1005
911
578
9463
1331
510
420
1639
712
464
2064
714
257
2822
916
955
Impo
rts
c i
f12
877
1628
414
2015
8315
857
1640
517
093
1653
118
680
1571
221
164
1729
822
669
1774
125
693
1981
634
202
2361
740
642
2441
1
(b)
Invi
sibl
es (
Net
)39
9750
5436
5540
7634
3935
5830
6829
6738
4932
3736
3029
6735
2427
5830
0423
1731
4621
7225
8315
51
R
ecei
pts
5669
7169
5664
6316
6062
6271
6893
6666
8243
6933
7875
6436
8274
6475
9279
7156
1092
675
4512
484
7498
Pay
men
ts16
7221
1420
0822
3926
2227
1332
8431
7643
9436
9642
4534
7047
5137
1862
7548
4077
8153
7399
0159
47(2
) C
apit
al A
cou
nt
(Net
)14
4318
2567
675
415
8116
3630
1829
1934
1128
6949
2240
2358
9946
1774
9357
7910
305
7116
1077
764
73
R
ecei
pts
3953
4999
2997
3342
4651
4812
6012
5814
5920
4979
8064
6591
1196
093
6017
149
1322
621
284
1469
727
810
1670
4
P
aym
ents
2510
3174
2321
2588
3070
3176
2994
2896
2509
2110
3142
2568
6061
4743
9656
7447
1098
075
8217
032
1023
0
(a
) P
riva
te (
Net
)33
141
922
425
037
839
192
289
210
9291
820
9117
0922
6717
7422
4817
3432
5022
4431
5018
92
Rec
eipt
s53
968
241
846
661
563
611
8811
4914
6712
3426
1721
3932
2225
3039
8430
7366
1345
6610
110
6072
P
aym
ents
207
262
194
216
237
245
266
257
375
315
526
430
966
756
1736
1339
3363
2322
6960
4180
(b)
Off
icia
l (N
et)
1098
1388
465
519
1135
1174
1914
1851
2512
2113
2645
2162
3702
2897
5170
3987
7319
5054
7568
4546
(i)
Loan
s19
4224
5615
1716
9224
7222
5726
1125
2530
3425
5236
8330
1064
6250
5768
3252
6984
3758
2684
2850
62
R
ecei
pts
1971
2492
1525
1700
2489
2575
2625
2539
3059
2573
3693
3018
6478
5070
6852
5285
8465
5845
8436
5067
Pay
men
ts28
358
917
1814
1425
2110
815
1220
1527
198
5
(i
i) A
mor
tisat
ion
-660
-835
-774
-863
-798
-826
-916
-886
-727
-611
-115
2-9
42-2
588
-202
5-2
834
-286
-306
7-2
118
-299
0-1
796
Rec
eipt
s3
4-
-1
11
10
00
00
08
615
1014
8
P
aym
ents
6380
774
863
799
827
917
887
727
611
1152
942
2588
2025
2841
2191
3082
2128
3004
1804
(iii)
Mis
cella
neou
s-1
84-2
33-2
78-3
10-5
39-5
5821
921
220
517
211
493
-172
-135
1172
904
1949
1346
2130
1279
R
ecei
pts
1008
1275
697
777
1128
1167
1802
1743
1028
865
1000
817
1874
1467
5990
4620
5493
3793
8276
4971
P
aym
ents
1192
1507
975
1087
1666
1724
1583
1531
823
692
886
724
2074
1601
4818
3716
3544
2447
6145
3691
(c)
Ban
king
exc
ludi
ng R
BI
1316
-13
-14
6870
182
176
-193
-162
186
152
-70
-55
7558
265
-183
5935
R
ecei
pts
432
546
358
399
418
432
396
383
367
309
755
617
376
294
315
243
698
482
974
585
P
aym
ents
419
530
371
414
350
362
214
207
560
471
568
464
446
349
240
185
963
665
914
549
(3)
IMF
(S
DR
Allo
cati
on
)26
533
563
570
818
9519
6013
5113
0759
50-2
65-2
17-6
72-5
26-1
20-9
32-1
547
-106
8-1
460
-877
Rec
eipt
s27
334
567
174
818
9519
6014
2513
7821
718
30
00
00
00
00
0P
aym
ents
810
3640
00
7472
159
134
265
217
672
526
1209
932
1547
1068
1460
877
(4)
Cap
ital
Acc
ou
nt,
IM
F a
nd
SD
R A
lloca
tion
1826
2309
1310
1461
3476
3596
4369
4225
3469
2918
4658
3807
5227
4091
6284
4847
8757
6047
9318
5597
Rec
eipt
s43
4354
9236
6840
9065
4567
7174
3771
9261
3751
6280
6465
9111
960
9360
1714
913
226
2128
414
697
2781
016
704
Pay
men
ts25
1731
8323
5726
2830
7031
7630
6829
6726
6822
4434
0727
8567
3352
6910
865
8380
1252
786
5018
492
1110
7(5
) T
ota
l C
urr
ent
Acc
ou
nt,
Cap
ital
Acc
ou
nt
IM
F a
nd
SD
R A
lloca
tio
n-3
87-4
89-1
529
-170
519
620
310
5310
1859
750
2-1
298
-106
1-6
03-4
72-9
-7-1
653
-114
1-5
12-3
08R
ecei
pts
1667
821
090
1709
719
064
2174
422
495
2449
823
692
2633
922
154
2751
722
490
3355
026
256
4282
433
028
5285
736
498
6852
341
157
Pay
men
ts17
066
2158
118
625
2076
821
578
2229
323
445
2267
425
742
2165
228
815
2355
134
152
2672
742
832
3303
454
510
3764
069
035
4146
5(6
) E
rro
rs a
nd
Om
issi
on
s-1
29-1
63-9
0-1
0042
944
4-2
80-2
7132
927
759
248
4-1
29-1
01-9
48-7
3120
314
0-7
20-4
32(7
) R
eser
ves
and
Mo
net
ary
Go
ld51
665
316
1818
04-6
25-6
47-7
73-7
48-9
26-7
7970
757
873
257
395
673
714
4910
0112
3274
0
Mem
o I
tem
s :
N
on-m
onet
ary
gold
m
ovem
ent(
Net
)17
00
00
00
020
1729
240
00
00
06
4
Sou
rce
:R
eser
ve B
ank
of I
ndia
Bul
letin
, 20
03,
and
its v
ario
us o
ther
iss
ues.
— C
oncl
uded
Mon
ogra
ph o
n In
dia’
s B
alan
ce o
f P
aym
ents
, Ju
ly 1
993.
23 Balance of Payments
Ap
pen
dix
1(B
): B
alan
ce o
f P
aym
ents
: 1
990-
91 t
o 2
003-
04
(Rup
ees,
Cro
re)
1990
-91
1991
-92
1992
-93
1993
-94
1994
-95
Rec
eipt
sP
aym
ents
Net
Rec
eipt
sP
aym
ents
Net
Rec
eipt
sP
aym
ents
Net
Rec
eipt
sP
aym
ents
Net
Rec
eipt
sP
aym
ents
Net
A)C
UR
RE
NT
AC
CO
UN
T (
I+II)
4654
963
915
-173
6668
372
7060
7-2
235
8180
394
566
-127
6310
6648
1102
82-3
634
1331
6714
3749
-105
82I)
Mer
chan
dis
e (F
oB
/CIF
)33
153
5008
6-1
6933
4492
351
417
-649
454
761
7200
0-1
7239
7114
783
870
-127
2384
329
1127
48-2
8419
II) I
nvi
sib
les
1339
613
829
-433
2344
919
190
4259
2704
222
566
4476
3550
126
412
9089
4883
931
001
1783
8B
)To
tal
Cap
ital
Acc
ou
nt
4085
128
193
1265
857
300
4748
998
1166
044
5391
712
127
9082
062
915
2790
581
360
5466
726
693
1. F
ore
ign
In
vest
men
t (I
+II)
201
1918
338
546
339
1797
9816
9914
461
1180
1328
118
086
2998
1508
8
In
Ind
ia (
Ii +
IIi
)20
119
172
385
4633
917
9798
1699
1446
111
7913
282
1805
826
0915
449
Abr
oad
(Iii
+ I
Iii)
--
--
--
--
--
1-1
2839
0-3
62
I.
Dir
ect
191
1917
237
546
329
1051
9295
924
220
438
4241
2542
16
i
) In
Ind
ia-
--
--
--
--
--
--
--
Equ
ity-
--
--
--
--
--
--
--
Rei
nves
ted
Ear
ning
s-
--
--
--
--
--
--
--
Oth
er C
apita
l-
--
--
--
--
--
--
--
ii)
Abr
oad
--
--
--
--
--
--
--
-
E
quity
--
--
--
--
--
--
--
-
R
einv
este
d E
arni
ngs
--
--
--
--
--
--
--
-
O
ther
Cap
ital
--
--
--
--
--
--
--
-
II.
Po
rtfo
lio10
010
100
1074
66
740
1242
097
511
445
1381
725
8411
233
i) I
n In
dia
--
--
--
--
--
--
--
-
ii)
Abr
oad
--
--
--
--
--
--
--
-2.
Lo
ans
1692
469
9699
2823
219
1329
499
2526
639
2519
414
4531
276
2559
056
8634
329
2478
795
42
a)
Ext
erna
l A
ssis
tanc
e60
9521
3939
5610
715
3335
7380
1017
244
3457
3819
0449
55-3
051
1003
052
5747
73
i)
By
Indi
a-
11-1
10
14-1
40
11-1
1-
15-1
54
29-2
5
ii)
To
Indi
a60
9521
2939
6610
715
3320
7395
1017
244
2457
4810
904
4940
5964
1002
552
2747
98
b)
Com
mer
cial
Bor
row
ings
7684
3639
4045
7896
4074
3822
3621
4740
-111
994
5773
0821
4913
347
9813
3533
i
) B
y In
dia
5444
1045
2916
3862
-24
320
7624
430
611
296
i
i) T
o In
dia
7630
3595
4035
7851
4045
3806
3583
4678
-109
591
3772
3219
0513
041
9803
3238
c)
Sho
rt t
erm
To
Indi
a31
4512
1619
2846
0958
85-1
276
1284
716
020
-317
310
915
1332
8-2
413
1095
397
1712
363.
Ban
kin
g C
apit
al18
133
1691
012
2326
772
2542
213
5034
257
2210
012
157
3607
028
8971
-3E
+05
2203
423
092
-105
8
a)C
omm
erci
al B
anks
1428
212
661
1621
2245
221
850
602
2968
420
728
8956
3328
928
9130
398
2024
422
216
-197
2
i)
A
sset
s76
314
15-6
5233
9728
3855
937
8348
532
9886
435
13-2
9649
756
3780
-302
4
ii)
Li
abili
ties
1351
911
244
2275
1905
419
011
4325
901
2024
2-4
3832
425
2457
840
6719
488
1843
651
3
of
whi
ch:N
on-R
esid
ent
Dep
osits
1318
410
427
2757
1897
217
965
1007
2519
119
094
6097
2775
923
979
3780
1822
417
685
539
b
) O
ther
s38
5142
49-3
9943
2035
7374
745
7313
7232
0127
8188
019
0017
9087
691
44.
Ru
pee
Deb
t S
ervi
ce0
2140
-214
00
2785
-278
50
2335
-233
5-
3302
-330
2-
3090
-309
05.
Oth
er C
apit
al55
9321
2934
6469
2359
4497
933
5141
91-8
4090
1438
7351
4169
1270
162
11C
.Err
ors
& O
mis
sio
ns
235
-23
8-
301
-301
4400
4645
-245
2510
-25
1020
49-
2049
D.O
vera
ll B
alan
ce (
A+
B+
C)
8763
492
105
-447
112
5672
1183
9872
7414
7843
1487
26-8
8319
9977
1731
9826
779
2165
7619
8416
1816
0E
.M
on
etar
y M
ove
men
ts44
71-
4471
3205
1047
9-7
274
4231
3348
883
1007
2778
6-2
6779
-18
160
-181
60 i
)I.M
.F.
2178
-21
7832
0511
2720
7842
3186
933
6210
0742
058
742
3135
8533
63 i
i)F
orei
gn E
xcha
nge
Res
erve
s22
93-
2293
-93
51-9
351
-24
81-2
481
-27
366
-273
6616
2314
575
-248
1
(Con
td)
Balance of Payments 24A
pp
end
ix 1
(B):
Bal
ance
of
Pay
men
ts :
199
0-91
to
200
3-04
(Rup
ees,
Cro
re)
1995
-96
1996
-97
1997
-98
1998
-99
1999
-00
Rec
eipt
sP
aym
ents
Net
Rec
eipt
sP
aym
ents
Net
Rec
eipt
sP
aym
ents
Net
Rec
eipt
sP
aym
ents
Net
Rec
eipt
sP
aym
ents
Net
A)C
UR
RE
NT
AC
CO
UN
T (
I+II)
1679
2418
7570
-196
4619
7285
2135
66-1
6281
2189
4823
9831
-208
8325
2895
2696
84-1
6789
2942
0231
4533
-203
31I)
Mer
chan
dis
e (F
oB
/CIF
)10
8481
1465
42-3
8061
1211
9417
3753
-525
5913
2703
1905
08-5
7805
1444
3619
9914
-554
7816
2753
2401
12-7
7359
II) I
nvi
sib
les
5944
341
027
1841
676
091
3981
336
278
8624
549
323
3692
210
8459
6977
038
689
1314
4974
421
5702
8B
)To
tal
Cap
ital
Acc
ou
nt
8160
367
332
1427
112
8559
8594
442
615
1461
0210
9497
3660
514
3561
1076
7935
882
1758
2213
0494
4532
81.
Fo
reig
n I
nve
stm
ent
(I+
II)19
042
3418
1562
427
784
6622
2116
234
444
1461
219
832
2482
515
088
9737
5312
530
941
2218
4
In
Ind
ia (
Ii +
IIi
)18
994
2721
1627
327
751
5922
2182
934
075
1411
419
961
2421
014
041
1016
952
607
3010
622
501
Abr
oad
(Iii
+ I
Iii)
4869
7-6
4933
700
-667
369
4988
-461
961
510
47-4
3251
883
5-3
17
I.
Dir
ect
7277
101
7176
1017
177
1009
413
317
124
1319
310
550
162
1038
894
0913
9396
i)
In I
ndia
--
--
--
--
--
--
--
-
E
quity
--
--
--
--
--
--
--
-
R
einv
este
d E
arni
ngs
--
--
--
--
--
--
--
-
O
ther
Cap
ital
--
--
--
--
--
--
--
-
i
i) A
broa
d-
--
--
--
--
--
--
--
Equ
ity-
--
--
--
--
--
--
--
Rei
nves
ted
Ear
ning
s-
--
--
--
--
--
--
--
Oth
er C
apita
l-
--
--
--
--
--
--
--
II. P
ort
folio
1171
726
2090
9717
581
5845
1173
620
758
1399
067
6813
660
1387
9-2
1943
198
3009
313
105
i) I
n In
dia
--
--
--
--
--
--
--
-
ii)
Abr
oad
--
--
--
--
--
--
--
-2.
Lo
ans
3839
630
422
7974
6299
146
009
1698
264
144
4669
717
447
6197
243
009
1896
356
646
4969
569
51
a)
Ext
erna
l A
ssis
tanc
e10
101
6799
3302
1089
369
2439
6910
827
7441
3386
1160
881
0735
0113
342
9471
3871
i) B
y In
dia
-54
-54
-29
2977
-77
285
-83
347
-44
ii) T
o In
dia
1010
167
4633
5510
893
6895
3998
1082
773
6434
6311
506
8022
3484
1333
994
2439
15
b)
Com
mer
cial
Bor
row
ings
1447
098
9245
7826
897
1686
310
034
2725
412
653
1460
130
646
1206
718
579
1391
012
463
1447
i
) B
y In
dia
30-
3030
-30
43-
4322
-22
1382
3-
1382
3
ii)
To
Indi
a14
440
9892
4548
2686
716
863
1000
427
211
1265
314
558
3062
412
067
1855
7-
1246
3-1
2463
c)
Sho
rt t
erm
To
Indi
a13
824
1373
094
2520
122
222
2979
2606
326
593
-530
1971
822
834
-311
629
394
2776
116
333.
Ban
kin
g C
apit
al21
692
1924
724
4528
394
2050
478
9033
056
3624
3-3
187
3752
534
396
3129
4621
236
995
9217
a
)Com
mer
cial
Ban
ks20
787
1770
430
8327
052
1914
679
0630
328
3483
8-4
510
3150
733
194
-168
744
496
3448
610
010
i
)
Ass
ets
2845
4320
-147
526
5057
38-3
088
2093
1021
4-8
121
5713
1142
1-5
708
1148
680
7934
07
ii)
Li
abili
ties
1794
213
384
4558
2440
213
409
1099
328
235
2462
536
1026
894
2177
351
2133
010
2640
766
03
of
whi
ch:N
on-R
esid
ent
Dep
osits
1667
112
850
3821
2403
912
146
1189
328
041
2371
643
2526
267
2120
750
6032
133
2542
467
09
b)
Oth
ers
904
1543
-639
1342
1358
-16
2728
1405
1323
6018
1202
4816
1716
2509
-793
4. R
up
ee D
ebt
Ser
vice
-31
06-3
106
-25
42-2
542
-27
84-2
784
-33
08-3
308
-30
59-3
059
5. O
ther
Cap
ital
2474
1114
0-8
666
9390
1026
7-8
7714
458
9171
5287
1933
911
879
7460
1983
998
0410
035
C.E
rro
rs &
Om
issi
on
s12
87-
1287
-21
14-2
114
931
-93
114
3561
848
1427
1327
73-
2773
D.O
vera
ll B
alan
ce (
A+
B+
C)
2508
5325
4902
-404
932
5844
3016
2424
220
3659
8134
9328
1665
339
6456
3782
1118
245
4727
9744
5027
2777
0E
.M
on
etar
y M
ove
men
ts97
9857
4940
49-
2422
0-2
4220
-16
653
-166
53-
1824
5-1
8245
-27
770
-277
70
i) I
.M.F
.-
5749
-574
9-
3461
-346
1-
2286
-228
6-
1652
-165
2-
1122
-112
2
ii) F
orei
gn E
xcha
nge
Res
erve
s97
98-
9798
-20
759
-207
59-
1436
7-1
4367
-16
593
-165
93-
2664
8-2
6648
(Con
td)
25 Balance of Payments
Ap
pen
dix
1(B
): B
alan
ce o
f P
aym
ents
: 1
990-
91 t
o 2
003-
04 (
Con
clud
ed)
(Rup
ees,
Cro
re)
2000
-01R
2001
-02
R20
02-0
3 R
2003
-04
PR
Rec
eipt
sP
aym
ents
Net
Rec
eipt
sP
aym
ents
Net
Rec
eipt
sP
aym
ents
Net
Rec
eipt
sP
aym
ents
Net
A)C
UR
RE
NT
AC
CO
UN
T (
I+II)
3556
3036
7228
-115
9838
8453
3720
2716
426
4628
3643
2176
3066
053
9870
4919
1847
952
I) M
erch
and
ise
(Fo
B/C
IF)
2078
5226
4589
-567
3721
3345
2683
00-5
4955
2600
7931
1776
-516
9729
6767
3681
02-7
1335
II) I
nvi
sib
les
1477
7810
2639
4513
917
5108
1037
2771
381
2027
5712
0400
8235
724
3103
1238
1611
9287
B)T
ota
l C
apit
al A
cco
un
t24
7491
2068
8140
610
2064
0416
5324
4108
022
4237
1718
7152
366
3604
2926
5850
9457
91.
Fo
reig
n I
nve
stm
ent
(I+
II)80
824
4577
035
054
7390
741
987
3192
067
756
4765
820
098
1514
0883
816
6759
2
In
Ind
ia (
Ii +
IIi
)80
501
4948
531
016
7343
534
574
3886
167
401
9329
5807
215
0438
7698
973
449
Abr
oad
(Iii
+ I
Iii)
320
4595
-427
547
274
13-6
941
356
-35
696
768
27-5
860
I
. D
irec
t18
727
3803
1492
429
741
7111
2263
025
036
9442
1559
422
427
6733
1569
4
i
) In
Ind
ia18
404
-18
404
2926
924
2924
524
681
284
2439
721
457
1021
447
Equ
ity10
948
-10
948
1957
024
1954
613
699
284
1341
510
948
1010
938
Rei
nves
ted
Ear
ning
s61
77-
6177
7841
-78
4188
66-
8866
8271
-82
71
Oth
er C
apita
l12
79-
1279
1858
-18
5821
16-
2116
2238
-22
43
i
i) A
broa
d32
338
03-3
480
472
7087
-661
535
591
58-8
803
970
6723
-575
3
E
quity
323
1906
-158
347
231
76-2
704
355
3314
-295
997
022
57-1
287
Rei
nves
ted
Ear
ning
s-
1553
-155
3-
3339
-333
9-
5342
-534
2-
4099
-540
3
O
ther
Cap
ital
-34
4-3
44-
572
-572
-50
2-5
02-
367
-367
II. P
ort
folio
6209
750
277
1182
044
166
3487
692
9042
720
3821
645
0412
8981
7708
351
898
i) I
n In
dia
6209
749
485
1261
244
166
3455
096
1642
720
3804
546
7512
8981
7697
952
002
ii) A
broa
d-
792
-792
-32
6-3
26-
171
-171
-10
4-1
032.
Lo
ans
1092
7184
812
2445
955
418
6130
2-5
884
5589
974
469
-185
7096
359
1091
18-1
2759
a
) E
xter
nal
Ass
ista
nce
1352
111
519
2002
1607
010
661
5409
1390
228
922
-150
2015
269
2776
9-1
2500
i) B
y In
dia
-78
-78
-41
0-4
10-
157
-157
-47
47
ii)
To
Indi
a13
521
1144
120
8016
070
1025
158
1913
902
2876
5-1
4863
1526
927
722
-124
53
b)
Com
mer
cial
Bor
row
ings
4445
524
284
2017
112
845
2037
3-7
528
1697
625
196
-822
030
073
3701
5-6
942
i
) B
y In
dia
-23
-23
15-
1543
-43
14-
16
ii)
To
Indi
a44
455
2426
120
194
1283
020
373
-754
316
933
2519
6-8
263
3005
937
015
-695
6
c) S
hort
ter
m T
o In
dia
5129
549
009
2286
2650
330
268
-376
525
021
2035
146
7051
017
4433
466
833.
Ban
kin
g C
apit
al44
448
5359
2-9
144
6611
352
335
1377
891
681
4134
850
333
8945
660
800
2865
6
a)C
omm
erci
al B
anks
4302
051
753
-873
363
830
5099
812
832
8905
740
157
4890
087
902
5709
430
808
i
)
Ass
ets
954
2013
7-1
9183
6121
8046
-192
529
443
4777
2466
691
7382
2494
9
ii)
Li
abili
ties
4206
631
616
1045
057
709
4295
214
757
5961
435
380
2423
478
729
4887
029
859
of
whi
ch:N
on-R
esid
ent
Dep
osits
4102
230
461
1056
154
464
4133
713
127
4943
935
015
1442
465
739
4887
016
869
b
) O
ther
s14
2818
39-4
1122
8313
3794
626
2411
9114
3315
5437
06-2
152
4. R
up
ee D
ebt
Ser
vice
-27
60-2
760
-24
57-2
457
-23
06-2
306
-17
56-1
758
5. O
ther
Cap
ital
1294
811
637
1311
1096
672
4337
2389
0160
9028
1123
206
1036
012
846
C.E
rro
rs &
Om
issi
on
s-
1369
-136
9-
913
-913
-98
935
2314
63-
1463
D.O
vera
ll B
alan
ce (
A+
B+
C)
6031
2157
5478
2764
359
4857
5382
6456
593
6870
7360
5036
8203
790
1762
7577
6814
3994
E.
Mo
net
ary
Mo
vem
ents
6442
3408
5-2
7643
-56
593
-565
93-
8203
7-8
2037
-14
3994
-143
994
i)
I.M
.F.
-11
5-1
15-
--
--
--
--
ii)
For
eign
Exc
hang
e R
eser
ves
6442
3397
0-2
7528
-56
593
-565
93-
8203
7-8
2037
-14
3994
-143
994
Sou
rce
:R
eser
ve B
ank
of I
ndia
Bul
letin
, A
ug 2
004,
and
its
var
ious
oth
er i
ssue
s.M
onog
raph
on
Indi
a’s
Bal
ance
of
Pay
men
ts,
July
199
3.
Balance of Payments 26A
pp
end
ix 1
(C):
Bal
ance
of
Pay
men
ts :
199
0-91
to
200
3-04
(US
Dol
lar
Mill
ion)
1990
-91
PR
1991
-92
1992
-93
1993
-94
1994
-95
Rec
eipt
sP
aym
ents
Net
Rec
eipt
sP
aym
ents
Net
Rec
eipt
sP
aym
ents
Net
Rec
eipt
sP
aym
ents
Net
Rec
eipt
sP
aym
ents
Net
A)
CU
RR
EN
T A
CC
OU
NT
(I+
II)25
941
3562
1-9
680
2776
828
946
-117
828
203
3172
9-3
526
3400
235
160
-115
842
409
4577
8-3
369
I) M
erch
and
ise
(Fo
B/C
IF)
1847
727
915
-943
818
266
2106
4-2
798
1886
924
316
-544
722
683
2673
9-4
056
2685
535
904
-904
9II)
In
visi
ble
s (a
+b
+c)
7464
7706
-242
9502
7882
1620
9334
7413
1921
1031
984
2128
9815
554
9874
5680
B)
To
tal
Cap
ital
Acc
ou
nt
2276
615
710
7056
2333
419
424
3910
2261
718
741
3876
2895
520
060
8395
2591
417
412
8502
1. F
ore
ign
In
vest
men
t (I
+II)
113
1010
315
118
133
589
3255
746
1137
642
3557
6395
648
07
In
Ind
ia (
Ii +
IIi
)11
310
103
151
1813
358
932
557
4611
376
4235
5753
831
4922
Abr
oad
(Iii
+ I
Iii)
——
——
——
——
——
——
1012
5-1
15
I.
Dir
ect
107
1097
147
1812
934
530
315
651
6558
613
518
1343
i)
In I
ndia
....
....
....
....
....
....
....
..
E
quity
....
....
....
....
....
....
....
..
R
einv
este
d E
arni
ngs
....
....
....
....
....
....
....
..
Oth
er C
apita
l..
....
....
....
....
....
....
....
ii)
Abr
oad
....
....
....
....
....
....
....
..
E
quity
....
....
....
....
....
....
....
..
R
einv
este
d E
arni
ngs
....
....
....
....
....
....
....
..
O
ther
Cap
ital
....
....
....
....
....
....
....
..
II.
Po
rtfo
lio6
06
4—
424
42
242
3960
311
3649
4402
823
3579
i) I
n In
dia
....
....
....
....
....
....
....
..
ii)
Abr
oad
....
....
....
....
....
....
....
..2.
Lo
ans
9432
3899
5533
9416
5437
3979
8671
8260
411
9971
8159
1812
1093
078
9530
35
a)
Ext
erna
l A
ssis
tanc
e33
9711
9322
0443
6613
3530
3133
0214
4618
5634
7615
8018
9631
9316
7515
18
i)
By
Indi
a—
6-6
—6
-6—
3-3
—5
-52
10-8
ii) T
o In
dia
3397
1187
2210
4366
1329
3037
3302
1443
1859
3476
1575
1901
3191
1665
1526
b
) C
omm
erci
al B
orro
win
gs42
8220
2822
5431
5216
8914
6311
7915
45-3
6630
1523
3068
542
4931
2511
24
i)
By
Indi
a30
246
1912
712
20-8
102
2478
973
94
ii)
To
Indi
a42
5220
0422
4831
3316
7714
5611
6715
25-3
5829
1323
0660
741
5231
2210
30
c)
Sho
rt t
erm
To
Indi
a17
5367
810
7518
9824
13-5
1541
9052
59-1
069
3480
4249
-769
3488
3095
393
3. B
anki
ng
Cap
ital
1010
694
2468
210
958
1039
456
411
998
8172
3826
1150
092
3722
6370
2073
54-3
34
a)C
omm
erci
al B
anks
7960
7056
904
9065
8929
136
1065
377
2329
3010
614
8956
1658
6449
7075
-626
i
)
Ass
ets
425
789
-364
1335
1107
228
1234
161
1073
276
1120
-844
241
1203
-962
i
i)
Liab
ilitie
s18
745
6-2
6935
417
-382
231
375
-144
1483
191
1292
403
239
164
o
f w
hich
:Non
-Res
iden
t D
epos
its73
4858
1115
3776
9574
0529
091
8871
8720
0188
5076
4512
0558
0556
3317
2
b)
Oth
ers
2146
2368
-222
1893
1465
428
1345
449
896
886
281
605
571
279
292
4. R
up
ee D
ebt
Ser
vice
—11
93-1
193
—12
40-1
240
—87
8-8
78—
1053
-105
3—
983
-983
5. O
ther
Cap
ital
3117
1186
1931
2809
2335
474
1359
1399
-40
2873
1235
1638
2201
224
1977
C.
Err
ors
& O
mis
sio
ns
132
—13
2—
133
-133
—94
0-9
4080
0—
800
654
—65
4D
.O
vera
ll B
alan
ce (
A+
B+
C)
4883
951
331
-249
251
102
4850
3-2
599
5082
051
410
-590
6375
755
220
8537
6897
763
190
5787
E.
Mo
net
ary
Mo
vem
ents
3136
644
2492
1245
459
786
1623
1033
590
321
8858
-853
7—
5787
-578
7
i) I
.M.F
.18
5864
412
1412
4545
978
616
2333
512
8832
113
418
7—
1143
-114
3
ii) F
orei
gn E
xcha
nge
Res
erve
s12
78—
1278
—33
85-3
375
—69
8-6
98—
8724
-872
4—
4644
-464
4
(Con
td)
27 Balance of Payments
Ap
pen
dix
1(C
): B
alan
ce o
f P
aym
ents
: 1
990-
91 t
o 2
003-
04(U
S D
olla
r M
illio
n)
1995
-96
1996
-97
1997
-98
PR
1998
-99
1999
-200
0PR
Rec
eipt
sP
aym
ents
Net
Rec
eipt
sP
aym
ents
Net
Rec
eipt
sP
aym
ents
Net
Rec
eipt
sP
aym
ents
Net
Rec
eipt
sP
aym
ents
Net
A)
CU
RR
EN
T A
CC
OU
NT
(I+
II)49
987
5588
6-5
899
5553
860
157
-461
958
924
6442
4-5
500
6006
864
106
-403
867
854
7255
2-4
698
I) M
erch
and
ise
(Fo
B/C
IF)
3231
143
670
-113
5934
133
4894
8-1
4815
3568
051
187
-155
0734
298
4754
4-1
3246
3754
255
383
-178
41II)
In
visi
ble
s (a
+b
+c)
1767
612
216
5460
2140
511
209
1019
623
244
1323
710
007
2577
016
562
9208
3031
217
169
1314
3B
)T
ota
l C
apit
al A
cco
un
t24
165
2008
740
7836
191
2418
512
006
3929
229
448
9844
3417
025
735
8435
4053
130
087
1044
41.
Fo
reig
n I
nve
stm
ent
(I+
II)56
3210
2846
0478
2418
6159
6392
6639
1353
5358
9235
8023
1212
240
7123
5117
In I
ndia
(Ii
+II
i )
5632
824
4794
7816
1663
6153
9169
3779
5390
5743
3331
2412
1212
169
3051
91
A
broa
d (I
ii +
IIii
)14
204
-190
819
8-1
9097
134
-37
149
249
-100
119
193
-74
I
. D
irec
t21
6229
2133
2863
2228
4135
9634
3562
2518
3824
8021
703
2167
i)
In I
ndia
....
....
....
....
....
....
....
..
E
quity
....
....
....
....
....
....
....
..
R
einv
este
d E
arni
ngs
....
....
....
....
....
....
....
..
Oth
er C
apita
l..
....
....
....
....
....
....
....
ii)
Abr
oad
....
....
....
....
....
....
....
..
E
quity
....
....
....
....
....
....
....
..
Rei
nves
ted
Ear
ning
s..
....
....
....
....
....
....
....
Oth
er C
apita
l..
....
....
....
....
....
....
....
II. P
ort
folio
3456
795
2661
4953
1641
3312
5573
3745
1828
3225
3293
-68
9951
6927
3024
i) I
n In
dia
....
....
....
....
....
....
....
..
ii)
Abr
oad
....
....
....
....
....
....
....
..2.
Lo
ans
1133
291
3122
0117
720
1292
547
9517
301
1250
247
9914
771
1035
344
1813
060
1145
916
01
a)
Ext
ern
al A
ssis
tan
ce29
3320
6686
730
5619
5511
0128
8520
0088
527
2619
2779
930
7421
8389
1
i)
By
Indi
a0
16-1
6—
8-8
—22
-22
—21
-21
010
-10
ii) T
o In
dia
2933
2050
883
3056
1947
1109
2885
1978
907
2726
1906
820
3074
2173
901
b
) C
omm
erci
al B
orro
win
gs42
6229
7712
8575
7947
2328
5673
8233
7240
1072
3128
6443
6732
0728
7433
3
i)
By
Indi
a10
010
8—
811
—11
124
135
-11
20—
20
ii)
To
Indi
a42
5229
7712
7575
7147
2328
4873
7133
7239
995
—5
3187
2874
313
c
) S
hort
ter
m T
o In
dia
4137
4088
4970
8562
4783
870
3471
30-9
672
2628
6443
6267
7964
0237
73.
Ban
kin
g C
apit
al64
5356
9176
280
1857
8922
2989
1098
03-8
9348
1455
62-7
4810
659
8532
2127
a
)Com
mer
cial
Ban
ks61
7252
3593
776
3254
0722
2581
6494
24-1
260
8197
6717
1480
1025
979
5523
04
i)
A
sset
s86
712
51-3
8475
516
25-8
7058
027
75-2
195
6768
6434
334
2653
1863
790
i
i)
Liab
ilitie
s37
615
821
810
235
7-2
5552
242
-190
1344
2741
-139
720
122
7-2
6
of
whi
ch:
Non
-Res
iden
t D
epos
its49
2938
2611
0367
7534
2533
5075
3264
0711
2545
1192
886
-883
7574
0558
6515
40
b)
Oth
ers
281
456
-175
386
382
474
637
936
753
0035
5817
4240
057
7-1
774.
Ru
pee
Deb
t S
ervi
ce—
952
-952
727
-727
—76
7-7
6714
2928
311
46—
711
-711
5. O
ther
Cap
ital
748
3285
-253
726
2928
83-2
5438
1524
6313
52—
802
-802
4572
2262
2310
C.
Err
ors
& O
mis
sio
ns
600
—60
0—
594
-594
167
—16
739
5828
0111
5765
6—
656
D.
Ove
rall
Bal
ance
(A
+B
+C
)74
752
7597
3-1
221
9172
967
9384
936
9838
393
872
4511
3281
824
253
8565
1090
4110
2639
6402
E.
Mo
net
ary
Mo
vem
ents
2936
1715
1221
—67
93-6
793
—45
11-4
511
—30
5-3
05—
6402
-640
2
i) I
.M.F
.—
-171
5-1
715
—97
5-9
75—
618
-618
—26
0-2
60
ii) F
orei
gn E
xcha
nge
Res
erve
s29
36—
2936
—58
18-5
818
—38
93-3
893
1935
5479
-354
4—
6142
-614
2
(Con
td)
Balance of Payments 28A
pp
end
ix 1
(C):
Bal
ance
of
Pay
men
ts :
199
0-91
to
200
3-04
(C
oncl
uded
)(U
S D
olla
r M
illio
n)
2000
-01R
2001
-02
R20
02-0
3 R
2003
-04
PR
Rec
eipt
sP
aym
ents
Net
Rec
eipt
sP
aym
ents
Net
Rec
eipt
sP
aym
ents
Net
Rec
eipt
sP
aym
ents
Net
A)C
UR
RE
NT
AC
CO
UN
T (
I+II)
7771
980
385
-266
681
440
7804
034
0095
699
8935
463
4511
7705
1071
4410
561
I
) M
erch
and
ise
(Fo
B/C
IF)
4545
257
912
-124
6044
703
5627
7-1
1574
5377
464
464
-106
9064
723
8017
7-1
5454
II) I
nvi
sib
les
(a+
b+
c)32
267
2247
397
9436
737
2176
314
974
4192
524
890
1703
552
982
2696
726
015
B)T
ota
l C
apit
al A
cco
un
t55
542
4552
410
018
4325
734
706
8551
4636
835
528
1084
078
613
5807
120
542
1. F
ore
ign
In
vest
men
t (I
+II)
1772
011
858
5862
1548
888
0266
8614
001
9840
4161
3310
518
329
1477
6
In
Ind
ia (
Ii +
IIi
)17
650
1085
967
9115
389
7243
8146
1392
879
1360
1532
894
1684
216
052
Abr
oad
(Iii
+ I
Iii)
7099
9-9
2999
1559
-146
073
1927
-185
421
114
87-1
276
I
. D
irec
t41
2182
932
7262
2914
9547
3451
6819
5132
1748
8714
6734
20
i
) In
Ind
ia40
31-
4031
6130
561
2550
9559
5036
4676
246
74
E
quity
2399
-23
9940
965
4091
2825
5927
6623
892
2387
Rei
nves
ted
Ear
ning
s13
52—
1352
1644
—16
4418
32—
1498
1800
-18
00
Oth
er C
apita
l28
0—
280
390
—39
043
8—
462
487
-48
8
i
i) A
broa
d70
829
-757
9914
90-1
391
7318
92-1
819
211
1749
-153
8
Equ
ity70
414
-344
9966
9-5
7073
684
-611
211
493
-282
R
einv
este
d E
arni
ngs
—34
0-3
40—
700
-700
—11
04-5
19-
1176
-117
6
O
ther
Cap
ital
—75
-75
—12
1-1
21—
104
-106
-80
-80
II. P
ort
folio
1361
911
029
2590
9259
7307
1952
8833
7889
944
2821
816
862
1135
6
i)
In
Indi
a13
619
1085
927
6092
5972
3820
2188
3378
5497
928
218
1684
011
378
ii) A
broa
d—
170
-170
—69
-69
—35
-35
-22
-22
2. L
oan
s23
806
1854
252
6411
601
1286
2-1
261
1156
815
418
-385
021
008
2385
6-2
848
a
) E
xter
nal
Ass
ista
nce
2941
2531
410
3352
2235
1117
2878
6006
-312
833
4160
83-2
742
i) B
y In
dia
017
-17
087
-87
032
-32
010
-10
ii) T
o In
dia
2941
2514
427
3352
2148
1204
2878
5974
-309
633
4160
73-2
732
b
) C
omm
erci
al B
orro
win
gs96
2153
1843
0326
8742
72-1
585
3514
5206
-169
265
7781
03-1
526
i
) B
y In
dia
05
-53
03
90
93
03
i
i) T
o In
dia
9621
5313
4308
2684
4272
-158
835
0552
06-1
701
6574
8103
-152
9
c)
Sho
rt t
erm
To
Indi
a11
244
1069
355
155
6263
55-7
9351
7642
0697
011
090
9670
1420
3. B
anki
ng
Cap
ital
9744
1170
5-1
961
1387
011
006
2864
1895
885
3310
425
1947
013
239
6231
a
)Com
mer
cial
Ban
ks94
2311
305
-188
213
385
1072
526
6018
422
8287
1013
519
135
1243
666
99
i)
A
sset
s20
643
80-4
174
1267
1711
-444
6089
976
5113
2007
1797
210
i
i)
Liab
ilitie
s92
1769
2522
9212
118
9014
3104
1233
373
1150
2217
128
1063
964
89
of
whi
ch:N
on-R
esid
ent
Dep
osits
8988
6672
2316
1143
586
8127
5410
214
7236
2978
1428
110
639
3642
b) O
ther
s32
140
0-7
948
528
120
453
624
629
033
580
3-4
684.
Ru
pee
Deb
t S
ervi
ce0
617
-617
051
9-5
190
474
-474
037
6-3
765.
Oth
er C
apit
al28
5625
6429
222
9815
1778
118
4112
6357
850
3022
7127
59C
.Err
ors
& O
mis
sio
ns
030
5-3
050
194
-194
020
0-2
0031
80
318
D.O
vera
ll B
alan
ce (
A+
B+
C)
1318
4512
5976
5869
1246
9711
2940
1175
714
2067
1250
8216
985
1966
3616
5215
3142
1E
.M
on
etar
y M
ove
men
ts14
4873
16-5
868
011
757
-117
570
1698
5-1
6985
031
421
-314
21
i) I
.M.F
.0
26-2
60
00
00
00
00
ii)
For
eign
Exc
hang
e R
eser
ves
1448
7290
-584
20
1175
7-1
1757
016
985
-169
850
3142
1-3
1421
*In
clud
es r
epay
men
t of
US
dol
lar
3035
mill
ion
of g
over
nmen
t lo
ans
effe
cted
in
Jan-
Mar
200
3N
otes
:D
ata
on F
orei
gn D
irec
t In
vest
men
t (F
DI)
hav
e be
en r
evis
ed s
ince
200
0-01
with
exp
ande
d co
vera
ge t
o ap
proa
ch i
nter
natio
nal
best
pra
ctic
es.
The
se d
ata,
the
refo
re,
are
not
com
para
ble
with
FD
I da
ta f
or p
revi
ous
year
s.S
ourc
es:
Res
erve
Ban
k of
Ind
ia B
ulle
tins,
Aug
ust
2004
and
var
ious
pre
viou
s is
sues
Mon
ogra
ph o
n In
dia’
s B
alan
ce o
f P
aym
ents
, Ju
ly 1
993.
29 Balance of Payments
Ap
pen
dix
2:
Bre
ak-u
p o
f In
visi
ble
s o
n C
urr
ent
Acc
ou
nt
1950
-51
1951
-52
1952
-53
1953
-54
1954
-55
1955
-56
1956
-57
1957
-58
1958
-59
Rs.
Cr
US
$ M
nR
s.C
rU
S $
Mn
Rs.
Cr
US
$ M
nR
s.C
rU
S $
Mn
Rs.
Cr
US
$ M
nR
s.C
rU
S $
Mn
Rs.
Cr
US
$ M
nR
s.C
rU
S $
Mn
Rs.
Cr
US
$ M
n
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
(12)
(13)
(14)
(15)
(16)
(17)
(18)
(19)
(1)
Fo
reig
n T
rave
l (N
et)
-12
-25
-13
-27
-1-2
-6-1
2-4
-80
03
76
124
81.
1 R
ecei
pts
511
919
919
715
919
1225
1532
1327
1225
1.2
Pay
men
ts17
3622
4610
2113
2713
2712
2512
257
158
17(2
)T
ran
spo
rtat
ion
(N
et)
2246
2757
1327
2144
2553
2348
3063
2859
2757
2.1
R
ecei
pts
3063
4186
3471
3369
3676
3880
4697
4799
4595
2.2
P
aym
ents
817
1429
2144
1225
1123
1532
1634
1940
1838
(3)
Insu
ran
ce (
Net
)5
117
156
134
94
95
103
63
65
10 3
.1
Rec
eipt
s8
1710
2110
218
178
1710
2110
219
1910
21 3
.2
Pay
men
ts3
63
64
84
84
85
117
156
135
11(4
)In
com
e (N
et)
1+2
-24
-50
-18
-38
-8-1
7-3
-6-5
-10
00
919
-6-1
3-2
0-4
2 A
Rec
eip
ts (
4.1a
+4.
2a)
715
1123
1940
2144
2553
3063
3369
2348
1634
B P
aym
ents
(4.
1b+
4.2b
)31
6529
6127
5724
5030
6330
6324
5029
6136
761.
In
vest
men
t in
com
e (n
et)
-24
-50
-18
-38
-8-1
7-3
-6-5
-10
00
919
-6-1
3-2
0-4
2
4.1a
R
ecei
pts
715
1123
1940
2144
2553
3063
3369
2348
1634
4.
1b
Pay
men
ts31
6529
6127
5724
5030
6330
6324
5029
6136
76O
f w
hich
: In
tere
st a
ndse
rvic
e pa
ymen
ts o
nF
orei
gn l
oans
and
cre
dit
--
--
--
--
--
--
--
--
--
2. C
ompe
nsat
ion
to e
mpl
oyee
s (n
et)
--
--
--
--
--
--
--
--
--
4.2a
R
ecei
pts
--
--
--
--
--
--
--
--
--
4.2b
P
aym
ents
--
--
--
--
--
--
--
--
--
(5)
Go
vern
men
t (G
.n.i.
e)4
87
158
179
1910
2110
2111
2311
2424
505.
1 R
ecei
pts
1940
2553
2757
2553
2757
2348
2450
2553
3982
5.2
Pay
men
ts15
3218
3819
4016
3417
3613
2713
2713
2915
32(6
)M
isce
llan
eou
s (N
et)
1123
1429
1837
1633
1327
1327
1328
1325
817
6.1
Rec
eipt
s27
5731
6533
6931
6528
5934
7137
7837
5337
786.
2 P
aym
ents
1634
1736
1532
1532
1532
2144
2450
2428
2961
of w
hich
: s
oftw
are
serv
ices
(ne
t)-
--
--
--
--
--
--
--
--
-6.
1a
Rec
eipt
s-
--
--
--
--
--
--
--
--
-6.
1b
Pay
men
ts-
--
--
--
--
--
--
--
--
-(7
)T
ran
sfer
Pay
men
ts (
Net
)37
7847
9957
119
6012
656
117
8918
785
234
6216
377
162
R
ecei
pts
4390
5321
163
132
6714
173
153
110
231
101
212
9519
994
198
P
aym
ents
613
613
613
715
1736
2144
1634
1736
1736
P
riva
te (
Net
)35
7442
8846
9641
8634
7137
7848
100
4594
4186
R
ecei
pts
4186
4810
152
109
4810
151
107
5812
264
134
6213
058
122
P
aym
ents
613
613
613
715
1736
2144
1634
1736
1736
Off
icia
l (N
et)
24
511
1123
1940
2246
5210
937
7833
6936
76 R
ecei
pts
24
511
011
2319
4022
4652
109
3778
3369
3676
Pay
men
ts0
00
00
00
00
00
00
00
00
0(8
)T
ota
l (N
et)
4390
7115
093
194
101
213
9920
915
429
315
432
413
227
612
526
28.
1 R
ecei
pts
140
294
180
379
195
409
192
404
206
434
206
539
266
559
249
523
253
533
8.2
Pay
men
ts97
204
109
229
102
215
9119
110
722
511
223
511
223
511
724
712
827
1
(Con
td)
Balance of Payments 30A
pp
end
ix 2
: B
reak
-up
of
Invi
sib
les
on
Cu
rren
t A
cco
un
t
1959
-60
1960
-61
1961
-62
1962
-63
1963
-64
1964
-65
1965
-66
1966
-67
1967
-68
Rs.
Cr
US
$ M
nR
s.C
rU
S $
Mn
Rs.
Cr
US
$ M
nR
s.C
rU
S $
Mn
Rs.
Cr
US
$ M
nR
s.C
rU
S $
Mn
Rs.
Cr
US
$ M
nR
s.C
rU
S $
Mn
Rs.
Cr
US
$ M
n
(1)
(20)
(21)
(22)
(23)
(24)
(25)
(26)
(27)
(28)
(29)
(30)
(31)
(32)
(33)
(34)
(35)
(36)
(37)
(1)
Fo
reig
n T
rave
l (N
et)
48
36
49
49
613
817
49
35
1115
1.1
Rec
eipt
s14
2915
3215
3216
3417
3618
3815
3218
2926
351.
2 P
aym
ents
1021
1225
1123
1225
1123
1021
1123
1524
1520
(2)
Tra
nsp
ort
atio
n (
Net
)23
4920
4221
4421
4428
5925
5326
5435
5734
45 2
.1
Rec
eipt
s45
9545
9548
101
4910
357
120
5712
054
113
8113
294
125
2.2
P
aym
ents
2246
2553
2757
2859
2961
3267
2859
4675
6080
(3)
Insu
ran
ce (
Net
)3
62
41
23
62
42
46
127
126
8 3
.1
Rec
eipt
s8
178
177
158
178
177
1512
2512
2013
17 3
.2
Pay
men
ts5
116
136
135
116
135
116
135
87
9(4
)In
com
e (N
et)
1+2
-33
-70
-48
-101
-68
-113
-83
-174
-92
-193
-108
-229
-124
-261
-193
-315
-233
-281
A R
ecei
pts
(4.
1a+
4.2a
)14
2914
2912
2511
2311
2311
.423
10.9
2318
2925
27 B
Pay
men
ts (
4.1b
+4.
2b)
4799
6213
080
138
9419
710
321
611
9.7
252
135.
128
421
134
425
830
81.
In
vest
men
t in
com
e (n
et)
-33
-70
-48
-101
-68
-113
-83
-174
-92
-193
-108
.3-2
29-1
24.2
-261
-193
-315
-233
-281
4.
1a
Rec
eipt
s14
2914
2912
2511
2311
2311
2311
2318
2925
27
4.1b
P
aym
ents
4799
6213
080
138
9419
710
321
612
025
213
528
421
134
425
830
8O
f w
hich
: In
tere
st a
ndse
rvic
e pa
ymen
ts o
nF
orei
gn l
oans
and
cre
dit
--
(34)
(71)
(46)
(96)
(58)
(122
)(6
7)(7
7)(7
6)(1
50)
(91)
(170
)(1
48)
(211
)(1
68)
(224
)2.
Com
pens
atio
n to
em
ploy
ees
(net
)-
--
--
--
--
--
--
--
--
-4.
2a
Rec
eipt
s-
--
--
--
--
--
--
--
--
-4.
2b
Pay
men
ts-
--
--
--
--
--
--
--
--
-(5
)G
ove
rnm
ent
(G.n
.i.e)
3778
3063
613
2552
4697
8117
030
6359
9656
755.
1 R
ecei
pts
4910
351
107
3063
5010
570
147
9620
246
9785
213
481
108
5.2
Pay
men
ts12
2521
4424
5025
5324
5015
3216
3423
3825
33(6
)M
isce
llan
eou
s (N
et)
12
24
-3-6
-11
-23
-14
-30
-23
-49
-24
-48
-12
-19
-24
-32
6.1
Rec
eipt
s30
6337
7836
7233
6933
6923
4826
5550
8243
576.
2 P
aym
ents
2961
3574
3982
4492
4799
4697
4910
362
101
6789
of w
hich
: so
ftw
are
serv
ices
(ne
t)-
--
--
--
--
--
--
--
--
-6.
1a
Rec
eipt
s-
--
--
--
--
--
--
--
--
-6.
1b
Pay
men
ts-
--
--
--
--
--
--
--
--
-(7
)T
ran
sfer
Pay
men
ts (
Net
)78
164
2815
471
149
103
217
117
246
167
350
155
323
161
102
123
164
R
ecei
pts
9419
845
190
8718
311
724
613
027
319
4.3
407
182.
238
219
832
316
021
3
Pay
men
ts16
3417
3616
3414
2913
2726
.957
27.3
5937
6137
49
Pri
vate
(N
et)
4084
2859
2552
2655
3472
2552
6313
053
8653
71
Rec
eipt
s56
118
4595
4186
4084
4799
4288
7816
473
119
7296
P
aym
ents
1634
1736
1634
1429
1327
1736
1634
2033
1925
Off
icia
l (N
et)
3880
095
4697
7716
283
174
142
298
9219
310
816
7093
Rec
eipt
s38
800
9546
9777
162
8317
415
231
910
421
812
520
488
117
Pay
men
ts0
00
00
00
00
010
2112
2517
2818
24(8
)T
ota
l (N
et)
113
237
8317
432
6862
131
9319
615
131
673
152
6098
-5-6
8.1
Rec
eipt
s25
453
426
054
623
549
528
459
732
668
540
685
331
672
745
974
943
758
28.
2 P
aym
ents
141
297
177
372
203
427
222
466
233
489
255
537
273
575
399
651
442
588
(Con
td)
31 Balance of Payments
Ap
pen
dix
2:
Bre
ak-u
p o
f In
visi
ble
s o
n C
urr
ent
Acc
ou
nt
1968
-69
1969
-70
1970
-71
1971
-72
1972
-73
1973
-74
1974
-75
1975
-76
1976
-77
Rs.
Cr
US
$ M
nR
s.C
rU
S $
Mn
Rs.
Cr
US
$ M
nR
s.C
rU
S $
Mn
Rs.
Cr
US
$ M
nR
s.C
rU
S $
Mn
Rs.
Cr
US
$ M
nR
s.C
rU
S $
Mn
Rs.
Cr
US
$ M
n
(1)
(38)
(39)
(40)
(41)
(42)
(43)
(44)
(45)
(46)
(47)
(48)
(49)
(50)
(51)
(52)
(53)
(54)
(55)
(1)
Fo
reig
n T
rave
l (N
et)
1317
2229
1925
1318
2025
4861
8811
018
721
623
726
51.
1 R
ecei
pts
2736
3749
3749
3344
3950
6583
103
129
209
241
276
308
1.2
Pay
men
ts14
1915
2018
2419
2619
2517
2215
1922
2538
43(2
)T
ran
spo
rtat
ion
(N
et)
3445
3040
3040
4357
5064
4456
8510
761
7047
53 2
.1
Rec
eipt
s99
132
102
136
109
145
111
149
121
156
145
185
218
273
256
296
295
330
2.2
P
aym
ents
6587
7296
7910
568
9271
9210
212
913
316
619
622
624
827
7(3
)In
sura
nce
(N
et)
45
00
00
-6-8
45
79
1216
1113
22
3.1
R
ecei
pts
1312
1317
1216
1418
1621
2126
2633
3641
3235
3.2
P
aym
ents
917
1317
1216
1926
1216
1417
1417
2428
3033
(4)
Inco
me
(Net
) 1+
2-2
33-3
11-2
46-3
28-2
54-3
39-2
69-3
61-2
98-3
86-3
18-4
05-2
48-3
12-2
24-2
58-1
89-2
11 A
Rec
eip
ts (
4.1a
+4.
2a)
2533
3445
4965
3749
3140
4456
9812
211
913
817
619
7 B
Pay
men
ts (
4.1b
+4.
2b)
258
344
280
373
303
404
306
410
329
426
362
461
346
434
343
396
365
408
1.
Inve
stm
ent
inco
me
(net
)-2
33-3
11-2
46-3
28-2
54-3
39-2
69-3
61-2
98-3
86-3
18-4
05-2
48-3
12-2
24-2
58-1
89-2
11
4.1a
R
ecei
pts
2533
3445
4965
3749
3140
4456
9812
211
913
817
619
7
4.1b
P
aym
ents
258
344
280
373
303
404
306
410
329
426
362
461
346
434
343
396
365
408
Of
whi
ch:
Inte
rest
and
ser
vice
pay
men
ts o
nF
orei
gn l
oans
and
cre
dit
(184
)(2
45)
(190
)(2
53)
(204
)(2
71)
(199
)(2
67)
(218
)(2
91)
(241
)(3
08)
(217
)(2
74)
(199
)(2
29)
(217
)(2
42)
2. C
ompe
nsat
ion
to e
mpl
oyee
s (n
et)
--
--
--
--
--
--
--
--
--
4.2a
R
ecei
pts
--
--
--
--
--
--
--
--
--
4.2b
P
aym
ents
--
--
--
--
--
--
--
--
--
(5)
Go
vern
men
t (G
.n.i.
e)9
293
47
95
78
1111
1445
5672
8375
537
5.1
Rec
eipt
s22
5727
3630
4029
3931
4033
4275
9410
412
176
293
5.2
Pay
men
ts43
2924
3223
3124
3223
1922
2830
3833
387
56(6
)M
isce
llan
eou
s (N
et)
-8-1
0-2
3-3
0-4
7-6
3-3
1-4
2-3
5-4
5-4
2-5
3-1
7-2
1-2
0-2
3-6
5-7
36.
1 R
ecei
pts
5979
4459
3141
4864
4761
4962
8310
415
117
518
720
96.
2 P
aym
ents
6789
6789
7814
7910
682
106
9111
510
012
517
119
825
228
2of
whi
ch:
soft
war
e se
rvic
es (
net)
--
--
--
--
--
--
--
--
--
6.1a
R
ecei
pts
--
--
--
--
--
--
--
--
--
6.1b
P
aym
ents
--
--
--
--
--
--
--
--
--
(7)
Tra
nsf
er P
aym
ents
(N
et)
183
245
152
202
210
280
220
296
107
139
1896
2411
367
460
919
1061
1138
1274
R
ecei
pts
215
287
183
244
229
306
274
368
229
296
1925
2448
383
481
940
1085
1156
1294
P
aym
ents
3242
3142
210
280
220
296
107
139
1896
2411
367
460
919
2418
20
Pri
vate
(N
et)
7610
284
112
8811
710
414
099
128
146
186
229
287
441
509
755
845
R
ecei
pts
9212
398
131
101
135
116
156
111
143
158
201
235
295
454
524
762
853
P
aym
ents
1621
1419
1317
1216
1115
1215
68
1315
78
Off
icia
l (N
et)
107
143
6890
122
163
116
156
811
1750
2225
138
173
478
552
383
429
Rec
eipt
s12
316
485
113
128
171
158
212
118
153
1767
2247
148
186
486
561
394
441
Pay
men
ts16
2117
236
842
5611
014
217
2210
138
911
12(8
)T
ota
l (N
et)
1520
-62
-83
-37
-49
-24
-33
-144
-187
1646
2093
331
416
1005
1162
1204
1347
8.1
Rec
eipt
s48
164
144
058
649
666
154
673
151
466
422
8129
0298
512
3618
1520
9722
0424
668.
2 P
aym
ents
466
621
502
669
533
711
570
764
658
851
636
809
654
820
810
935
1000
1119
(Con
td)
Balance of Payments 32A
pp
end
ix 2
: B
reak
-up
of
Invi
sib
les
on
Cu
rren
t A
cco
un
t
1977
-78
1978
-79
1979
-80
1980
-81
1981
-82
1982
-83
1983
-84
1984
-85
1985
-86
Rs.
Cr
US
$ M
nR
s.C
rU
S $
Mn
Rs.
Cr
US
$ M
nR
s.C
rU
S $
Mn
Rs.
Cr
US
$ M
nR
s.C
rU
S $
Mn
Rs.
Cr
US
$ M
nR
s.C
rU
S $
Mn
Rs.
Cr
US
$ M
n
(1)
(56)
(57)
(58)
(59)
(60)
(61)
(62)
(63)
(64)
(65)
(66)
(67)
(68)
(69)
(70)
(71)
(72)
(73)
(1)
Fo
reig
n T
rave
l (N
et)
329
384
359
437
497
615
874
1107
920
1026
946
979
834
807
489
411
778
636
1.1
Rec
eipt
s37
343
642
351
658
572
496
412
2110
6411
8611
3111
7010
7510
4089
875
511
8997
21.
2 P
aym
ents
4452
6579
8810
990
114
144
161
185
191
242
234
409
344
412
336
(2)
Tra
nsp
ort
atio
n (
Net
)65
7645
5569
856
8-8
5-9
5-2
91-3
01-2
7626
7-2
74-2
3021
2-1
73 2
.1
Rec
eipt
s28
132
828
034
232
139
836
145
739
844
440
742
144
042
664
454
260
449
4 2
.2
Pay
men
ts21
625
223
528
725
331
335
544
948
353
969
972
371
569
191
877
281
666
7(3
)In
sura
nce
(N
et)
45
-1-1
1822
1722
1517
-11
-11
3938
54
-5-4
3.1
R
ecei
pts
3541
3644
4657
5165
5561
5860
114
110
8975
7964
3.2
P
aym
ents
3136
3745
2835
3443
4045
6971
7572
8471
8368
(4)
Inco
me
(Net
) 1+
2-2
12-2
47-1
27-1
5589
110
257
325
191
213
-323
-334
-543
-525
-996
-838
-950
-776
A R
ecei
pts
(4.
1a+
4.2a
)22
225
933
140
454
968
072
491
766
674
346
548
146
344
858
649
366
954
7 B
Pay
men
ts (
4.1b
+4.
2b)
434
506
458
559
460
570
467
592
475
530
788
815
1006
973
1582
1331
1619
1323
1.
Inve
stm
ent
inco
me
(net
)-2
12-2
47-1
27-1
5589
110
257
325
191
213
-323
-334
-543
-525
-996
-838
-950
-776
4.
1a
Rec
eipt
s22
225
933
140
454
968
072
491
766
674
346
548
146
344
858
649
366
954
7
4.1b
P
aym
ents
434
506
458
559
460
570
467
592
475
530
788
815
1006
973
1582
1331
1619
1323
Of
whi
ch:
Inte
rest
and
serv
ice
paym
ents
on
For
eign
loa
ns a
nd c
redi
t(2
67)
(311
)(2
68)
(326
)(2
80)
(346
)(2
90)
(355
)(1
121)
(153
3)(1
200)
(194
9)(1
503)
(256
0)(1
313)
(353
6)(1
372)
(112
1)2.
Com
pens
atio
n to
em
ploy
ees
(net
)-
--
--
--
--
--
--
--
--
-4.
2a
Rec
eipt
s-
--
--
--
--
--
--
--
--
-4.
2b
Pay
men
ts-
--
--
--
--
--
--
--
--
-(5
)G
ove
rnm
ent
(G.n
.i.e)
3339
2327
-1-2
4151
7280
4344
2019
2118
-7-6
5.1
Rec
eipt
s78
9190
110
8610
788
111
131
146
107
111
139
134
105
8811
695
5.2
Pay
men
ts44
5268
8388
109
4760
5966
6466
118
114
8471
124
101
(6)
Mis
cella
neo
us
(Net
)17
2052
63-3
3-4
188
111
2932
279
289
505
488
1064
895
899
735
6.1
Rec
eipt
s27
532
237
746
052
965
575
195
181
891
210
7711
1416
1515
6123
6219
8720
6368
66.
2 P
aym
ents
258
302
326
397
562
696
663
840
789
880
798
826
1110
1074
1298
1092
1164
951
of w
hich
: so
ftw
are
serv
ices
(ne
t)-
--
--
--
--
--
--
--
--
-6.
1a
Rec
eipt
s-
--
--
--
--
--
--
--
--
-6.
1b
Pay
men
ts-
--
--
--
--
--
--
--
--
-(7
)T
ran
sfer
Pay
men
ts (
Net
)14
8417
3416
2519
8022
4927
8427
1734
4225
1428
0527
9628
9230
3029
3135
4129
7931
2825
57
Rec
eipt
s15
0217
5616
4617
0622
6928
1027
3334
6225
3428
2728
1729
1430
3729
4735
6029
9531
5625
79
Pay
men
ts19
2222
2621
2616
2020
2221
2217
1619
1628
22
Pri
vate
(N
et)
1102
1287
1093
1332
1754
2172
2125
2692
2066
2305
2417
2500
2638
2552
2967
2496
2701
2208
R
ecei
pts
1108
1295
1110
1352
1762
2182
2137
2707
2083
2324
2431
2515
2638
2561
2982
2509
2716
2220
P
aym
ents
78
1720
810
1215
1719
1415
109
1513
1512
Off
icia
l (N
et)
382
447
532
648
495
612
592
750
448
500
379
392
392
379
574
483
427
349
Rec
eipt
s39
446
153
635
450
762
859
675
545
150
338
639
939
938
657
848
644
035
9 P
aym
ents
1214
56
1316
45
33
77
77
43
1310
(8)
To
tal
(Net
)17
2220
1119
7424
0628
8735
7339
9750
6336
5540
7834
3935
5836
0934
8938
4932
3736
3029
678.
1 R
ecei
pts
2767
3233
3184
3882
4386
5431
5667
7181
5664
7231
6062
6271
6893
6666
8243
6933
7830
6437
8.2
Pay
men
ts10
4612
2212
1114
7615
0018
5816
7221
1820
0822
3926
2227
1332
8431
7643
9436
9642
4534
70
(Con
td)
33 Balance of Payments
Ap
pen
dix
2:
Bre
ak-u
p o
f In
visi
ble
s o
n C
urr
ent
Acc
ou
nt
1986
-87
1987
-88
1988
-89
1989
-90
1990
-91
1991
-92
1992
-93
1993
-94
1994
-95
Rs.
Cr
US
$ M
nR
s.C
rU
S $
Mn
Rs.
Cr
US
$ M
nR
s.C
rU
S $
Mn
Rs.
Cr
US
$ M
nR
s.C
rU
S $
Mn
Rs.
Cr
US
$ M
nR
s.C
rU
S $
Mn
Rs.
Cr
US
$ M
n
(1)
(74)
(75)
(76)
(77)
(78)
(79)
(80)
(81)
(82)
(83)
(84)
(85)
(86)
(87)
(88)
(89)
(90)
(91)
(1)
Fo
reig
n T
rave
l (N
et)
1236
967
1368
1055
1467
1013
1716
1031
1910
1064
3780
1512
4884
1713
5412
1725
4854
1547
1.1
Rec
eipt
s16
0612
5718
5614
3220
5414
1823
8614
3326
1314
5648
9219
7760
6120
9869
7122
2274
2423
651.
2 P
aym
ents
371
290
488
376
586
405
670
403
703
392
1112
465
1177
385
1559
497
2570
818
(2)
Tra
nsp
ort
atio
n (
Net
)-6
0-4
7-2
46-1
90-1
87-1
29-3
46-2
08-1
96-1
10-8
82-3
50-1
697
-503
-104
3-3
32-5
24-1
67 2
.1
Rec
eipt
s68
853
888
268
013
0089
815
1190
717
6598
323
0893
928
5198
244
9414
3353
2816
96 2
.2
Pay
men
ts74
858
511
2887
014
8710
2718
5711
1519
6110
9331
9012
8945
4814
8555
3717
6558
5218
63(3
)In
sura
nce
(N
et)
-19
-15
-1-1
4128
5835
4023
-42
-18
1012
-122
3-7
1-9
1-2
9 3
.1
Rec
eipt
s83
6510
681
136
9419
811
919
911
126
510
846
015
838
812
447
615
2 3
.2
Pay
men
ts10
280
107
8295
6614
084
159
8830
712
645
014
661
119
556
718
1(4
)In
com
e (N
et)
1+2
-124
9-9
78-1
733
-133
7-2
478
-171
1-3
316
-199
0-6
733
-375
2-9
396
-383
0-1
0503
-342
3-1
0258
-327
0-1
0773
-343
1 A
Rec
eip
ts (
4.1a
+4.
2a)
641
501
579
446
603
416
688
413
660
368
542
221
1004
376
1238
395
2782
886
B P
aym
ents
(4.
1b+
4.2b
)18
9014
7923
1217
8330
8121
2740
0424
0373
9341
2099
3840
5111
507
3799
1149
636
6513
555
4317
1.
Inve
stm
ent
inco
me
(net
)-1
249
-978
-173
3-1
337
-247
8-1
711
-331
6-1
990
-673
3-3
752
-939
6-3
830
-105
03-3
423
-102
58-3
270
-107
73-3
431
4.
1a
Rec
eipt
s64
150
157
944
660
341
668
841
366
036
854
222
110
0437
612
3839
527
8288
6
4.1b
P
aym
ents
1890
1479
2312
1783
3081
2127
4004
2403
7393
4120
9938
4051
1150
737
9911
496
3665
1355
543
17O
f w
hich
: In
tere
st a
ndse
rvic
e pa
ymen
ts o
nF
orei
gn l
oans
and
cre
dit
(153
3)(1
200)
(194
9)(1
503)
(256
0)(1
768)
(353
6)(2
124)
(495
8)(2
763)
(634
6)(2
590)
(220
1)(1
0865
)(2
912)
(128
51)
(304
5)(1
3811
)2.
Com
pens
atio
n to
em
ploy
ees
(net
)-
--
--
--
--
--
--
--
--
-4.
2a
Rec
eipt
s-
--
--
--
--
--
--
--
--
-4.
2b
Pay
men
ts-
--
--
--
--
--
--
--
--
-(5
)G
ove
rnm
ent
(G.n
.i.e)
-3-2
-61
-47
-94
-65
-159
-96
-283
-158
-250
-102
-86
-25
-387
-123
-491
-155
5.1
Rec
eipt
s13
310
412
193
118
8252
3127
1542
1722
075
9430
2810
5.2
Pay
men
ts13
610
618
240
212
147
211
127
310
173
292
119
306
100
481
153
519
165
(6)
Mis
cella
neo
us
(Net
)11
892
-353
-272
-169
-117
-64
-38
290
161
527
165
-413
-68
-208
2-6
64-1
866
-594
6.1
Rec
eipt
s16
0312
5416
6812
8621
1814
6229
2417
5635
6519
8648
4019
8141
2914
1745
6314
5560
0319
126.
2 P
aym
ents
1485
1162
2021
1558
2287
1579
2988
1796
3275
1825
4343
1816
4542
1485
6645
2119
7869
2506
of
whi
ch:
soft
war
e se
rvic
es (
net)
--
--
--
--
--
--
--
--
--
6.1a
R
ecei
pts
--
--
--
--
--
--
--
--
--
6.1b
P
aym
ents
--
--
--
--
--
--
--
--
--
(7)
Tra
nsf
er P
aym
ents
(N
et)
3501
2740
4030
3109
4566
3153
4695
2820
4539
2530
1052
242
4312
280
4215
1767
056
3326
726
8509
R
ecei
pts
3521
2755
4069
3138
4598
3171
4726
2839
4567
2545
1056
042
5912
317
4228
1775
356
6026
797
8533
P
aym
ents
2016
3729
3323
3119
2815
3816
3713
8327
7124
P
riva
te (
Net
)29
7623
2934
9826
9838
4226
5337
9822
8137
1220
6993
8237
8311
226
3852
1651
452
6525
417
8093
R
ecei
pts
2991
2340
3533
2725
3865
2669
3824
2297
3737
2083
9419
3798
1126
138
6416
582
5287
2547
481
12
Pay
men
ts15
1234
2624
1726
1625
1437
1535
1268
2257
19 O
ffic
ial
(Net
)52
541
153
241
172
450
089
753
982
746
111
4046
010
5436
311
5636
813
0941
6 R
ecei
pts
530
415
536
413
733
502
902
542
830
462
1141
461
1056
364
1171
373
1323
421
Pay
men
ts5
43
39
65
33
11
12
115
514
5(8
)T
ota
l (N
et)
3524
2758
3004
2317
3146
2172
2583
1550
-433
-242
4259
1620
4475
1912
9089
2898
1783
556
808.
1 R
ecei
pts
8274
6475
9279
7156
1092
675
4512
484
7498
1339
674
6423
449
9502
2704
293
3435
501
1131
948
838
1555
48.
2 P
aym
ents
4751
3718
6275
4840
7781
5373
9901
5940
1382
977
0619
190
7882
2256
774
1326
412
8421
3100
398
74
(Con
td)
Balance of Payments 34A
pp
end
ix 2
: B
reak
-up
of
Invi
sib
les
on
Cu
rren
t A
cco
un
t (C
oncl
uded
)
1995
-96
1996
-97
1997
-98
1998
-99
1999
-00
2000
-01
2001
-02
2002
-03
2003
-04
Rs.
Cr
US
$ M
nR
s.C
rU
S $
Mn
Rs.
Cr
US
$ M
nR
s.C
rU
S $
Mn
Rs.
Cr
US
$ M
nR
s.C
rU
S $
Mn
Rs.
Cr
US
$ M
nR
s.C
rU
S $
Mn
Rs.
Cr
US
$ M
n
(1)
(92)
(93)
(94)
(95)
(96)
(97)
(98)
(99)
(100
)(1
01)
(102
)(1
03)
(104
)(1
05)
(106
)(1
07)
(108
)(1
09)
(1)
Fo
reig
n T
rave
l (N
et)
5241
1546
7183
2020
5541
1477
5277
1250
3898
897
3323
693
639
123
-164
-29
2762
611
1.1
Rec
eipt
s91
5027
1310
232
2878
1088
029
1426
0329
9313
166
3036
1606
434
9714
975
3137
1599
133
1218
873
4122
1.2
Pay
men
ts39
0911
6730
4985
853
3914
3773
2617
4392
6821
3912
741
2804
1433
630
1416
155
3341
1611
135
11(2
)T
ran
spo
rtat
ion
(N
et)
-516
-158
-155
5-4
41-2
548
-686
-315
7-7
55-3
050
-665
-680
8-1
512
-616
0-1
306
-356
7-7
3642
5592
9 2
.1
Rec
eipt
s67
6420
1169
4219
5368
0518
3681
0919
2574
0017
4593
6420
4610
326
2161
1226
125
3614
958
3260
2.2
P
aym
ents
7280
2169
8497
2394
9353
2522
1126
626
8010
450
2410
1617
235
5816
486
3467
1582
832
7210
703
2331
(3)
Insu
ran
ce (
Net
)12
136
228
6421
057
473
112
479
114
230
4735
896
1925
557
3.1
R
ecei
pts
599
179
771
217
890
240
945
224
1004
236
1234
270
1374
288
1783
369
1927
420
3.2
P
aym
ents
478
143
543
153
680
183
472
112
525
122
1004
223
1339
280
1687
350
1672
363
(4)
Inco
me
(Net
) 1+
2-1
0716
-320
5-1
1767
-330
7-1
3204
-352
1-1
4855
-351
9-1
4842
-342
3-2
2733
-500
4-2
0068
-420
6-1
6690
-344
6-1
8250
-397
2 A
Rec
eip
ts (
4.1a
+4.
2a)
4732
1429
3812
1073
5795
1561
8313
1977
9019
2079
1227
526
8216
080
3379
1704
935
2219
668
4287
B P
aym
ents
(4.
1b+
4.2b
)15
448
4634
1557
943
8018
999
5082
2316
854
9623
861
5502
3500
876
8636
148
7585
3373
969
6837
918
8259
1.
Inve
stm
ent
inco
me
(net
)-1
0716
-320
5-1
1767
-330
7-1
3204
-352
1-1
4967
-354
4-1
5431
-355
9-2
1195
-466
4-1
8343
-384
4-1
7163
-354
4-1
5124
-329
1
4.1a
R
ecei
pts
4732
1429
3812
1073
5795
1561
8133
1935
8373
1931
1169
025
5415
487
3254
1648
434
0518
959
4132
4.
1b
Pay
men
ts15
448
4634
1557
943
8018
999
5082
2310
054
7923
804
5490
3288
572
1833
830
7098
3364
769
4934
083
7423
Of
whi
ch:
Inte
rest
and
serv
ice
paym
ents
on
For
eign
loa
ns a
nd c
redi
t(3
186)
(162
15)
(155
79)
(220
1)(1
8999
)(2
912)
(231
00)
(304
5)(2
3804
)(3
186)
(282
37)
(354
2)(2
5778
)(2
870)
....
....
2. C
ompe
nsat
ion
to e
mpl
oyee
s (n
et)
--
--
--
112
2558
913
6-1
538
-340
-172
5-3
6247
398
-312
6-6
814.
2a
Rec
eipt
s-
--
--
-18
042
646
148
585
128
593
125
565
117
(709
)(1
55)
4.2b
P
aym
ents
--
--
--
6817
5712
2123
468
2318
487
9219
3835
(836
)(5
)G
ove
rnm
ent
(G.n
.i.e)
-680
-205
-379
-106
444
116
1160
272
1356
312
1526
332
1118
235
312
6532
370
5.1
Rec
eipt
s44
1325
772
1038
276
2520
597
2523
582
2986
651
2467
518
1417
293
1299
282
5.2
Pay
men
ts72
421
863
617
859
416
013
6032
511
6727
014
6031
913
4928
311
0522
897
621
2(6
)M
isce
llan
eou
s (N
et)
-486
8-1
416
-285
6-8
1112
9635
553
6112
8614
987
3198
9634
2132
2025
742
6420
967
4324
2255
149
246.
1 R
ecei
pts
8191
2430
8363
2354
1548
941
6331
350
7447
4404
410
122
4490
798
0452
597
1103
648
000
1425
377
379
1686
56.
2 P
aym
ents
1305
938
4611
219
3165
1419
338
0825
989
6161
2905
769
2435
273
7672
3234
067
7268
967
9929
5482
811
941
of w
hich
: so
ftw
are
serv
ices
(ne
t)-
--
--
--
--
-26
308
5750
3283
615
856
4285
988
6353
912
1175
06.
1a
Rec
eipt
s-
--
-65
7017
6011
064
2626
1741
240
1629
013
6341
3603
816
218
4642
496
0055
986
1220
06.
1b
Pay
men
ts-
--
-82
922
314
6134
816
0013
827
0559
132
0236
235
6573
720
7445
0(7
)T
ran
sfer
Pay
men
ts (
Net
)29
833
8851
4542
512
777
4518
312
209
4454
210
587
5478
912
638
5996
713
106
7556
015
856
8140
316
838
1073
9123
396
R
ecei
pts
2996
388
9045
716
1285
845
348
1225
444
799
1064
954
939
1267
260
948
1331
777
289
1621
885
289
1764
010
8999
2374
6
Pay
men
ts13
039
291
8116
545
257
6215
034
981
211
1729
362
3886
802
1608
350
P
riva
te (
Net
)28
660
8506
4396
912
367
4376
511
830
4324
210
280
5313
212
256
5881
112
854
7336
315
398
7922
916
387
1048
1922
833
R
ecei
pts
2876
985
3944
209
1243
543
930
1187
543
494
1034
153
280
1229
059
792
1306
575
092
1576
083
115
1718
910
6427
2318
3
Pay
men
ts10
933
240
6816
545
252
6114
834
981
211
1729
362
3886
802
1608
350
Off
icia
l (N
et)
1173
345
1456
410
1418
379
1300
307
1657
382
1115
625
221
9745
821
7445
125
7256
3 R
ecei
pts
1194
351
1507
423
1418
379
1305
308
1659
382
1156
252
2197
458
2174
451
2572
563
Pay
men
ts21
651
130
05
12
0-
--
--
0-
0(8
)T
ota
l (N
et)
1841
554
4936
279
1019
636
922
1000
0738
689
9208
5702
812
935
4513
997
9471
381
1497
482
357
1703
511
9287
2601
58.
1 R
ecei
pts
5944
317
665
7609
321
405
8624
523
244
1084
5925
770
1314
4930
324
1477
7832
267
1751
0836
737
2027
5741
925
2431
0352
982
8.2
Pay
men
ts41
028
1221
639
814
1120
949
323
1323
769
770
1656
274
421
1738
910
2639
2247
310
3727
2176
312
0400
2489
012
3816
2696
7
Sou
rce:
RB
I (2
003)
, H
andb
ook
of S
tatis
tics
on t
he I
ndia
n E
cono
my.
35 Balance of Payments
Ap
pen
dix
2(A
): T
rave
l A
cco
un
t :
1990
-91
to 2
001-
02
(Rs.
Cr)
(US
$ M
n)
(Rs.
Cr)
(US
$ M
n)
(Rs.
Cr)
(US
$ M
n)
(Rs.
Cr)
(US
$ M
n)
(Rs.
Cr)
(US
$ M
n)
(Rs.
Cr)
(US
$ M
n)
(Rs.
Cr)
(US
$ M
n)
Item
1990
-91
1991
-92
1992
-93
1993
-94
1994
-95
1995
-96
1996
-97
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
(12)
(13)
(14)
AR
ecei
pts
Tou
rist
Exp
ense
s26
12.5
1456
4891
.919
7760
60.3
2098
6970
.322
2274
23.8
2365
9150
.327
1310
231.
828
78in
Ind
iaT
OT
AL
-A26
12.5
1456
4891
.919
7760
60.3
2098
6970
.322
2274
23.8
2365
9150
.327
1310
231.
828
78
BP
aym
ents
Bus
ines
s44
3.8
247
679.
228
483
2.0
271
1189
.037
918
15.3
578
2347
.870
211
36.3
320
Hea
lth R
elat
ed9.
55
53.1
2312
.84
16.2
516
.75
17.6
513
.84
Edu
catio
nRel
ated
77.8
4313
6.2
5811
8.6
3910
6.6
3414
9.7
4821
8.5
6596
.524
Bas
ic t
rave
l qu
ota
( B
TQ
)..
....
....
....
....
....
....
..P
ilgrim
age
19.9
1149
.821
53.6
1769
.822
100.
232
172.
151
226.
764
Oth
ers
171.
497
243.
010
039
20.0
7141
00.0
7928
72.6
187
2657
.639
559
35.9
510
(inc
lude
s se
ttle
men
ts o
fin
tern
atio
nal
cred
it ca
rds)
TO
TA
L-B
702.
539
211
11.5
465
1176
.938
515
58.5
497
2569
.581
839
08.8
1167
3049
.385
8
C.
Tra
vel
Net
(A
-B)
1910
.010
6437
80.4
1512
4883
.417
1354
11.8
1725
4854
.315
4752
41.5
1546
7182
.520
20
(Rs.
Cr)
(US
$ M
n)
(Rs.
Cr)
(US
$ M
n)
(Rs.
Cr)
(US
$ M
n)
(Rs.
Cr)
(US
$ M
n)
(Rs.
Cr)
(US
$ M
n)
(Rs.
Cr)
(US
$ M
n)
Item
1997
-98
1998
-99
1999
-00P
R20
00-0
120
01-0
220
01-0
2
(15)
(16)
(17)
(18)
(19)
(20)
(21)
(22)
(23)
(24)
(25)
(26)
AR
ecei
pts
Tou
rist
Exp
ense
s10
880.
029
1412
604.
029
9313
166.
030
3614
505.
031
6813
880.
029
1013
880.
029
10
in
Indi
aT
OT
AL
-A10
880.
029
1412
604.
029
9313
166.
030
3614
505.
031
6813
880.
029
1013
880.
029
10
BP
aym
ents
Bus
ines
s23
91.0
643
3687
.087
754
90.0
1268
7177
.015
7060
98.0
1281
6098
.012
81H
ealth
Rel
ated
21.0
640
.09
13.0
315
.03
9.0
29.
02
Edu
catio
nRel
ated
210.
057
218.
052
263.
061
378.
083
582.
012
258
2.0
122
Bas
ic t
rave
l qu
ota
( B
TQ
)12
56.0
340
1532
.036
316
38.0
379
2977
.065
222
93.0
483
2293
.048
3P
ilgrim
age
329.
085
292.
069
602.
013
781
9.0
179
333.
069
333.
069
Oth
ers
1132
.030
615
57.0
373
1262
.029
117
70.0
387
1554
.032
515
54.0
325
(inc
lude
s se
ttle
men
ts o
fin
tern
atio
nal
cred
it ca
rds)
TO
TA
L-B
5339
.014
3773
26.0
1743
9268
.021
3913
136.
028
7410
869.
022
8210
869.
022
82
C.
Tra
vel
Net
(A
-B)
5541
.014
7752
78.0
1250
3898
.089
713
69.0
294
3011
.062
830
11.0
628
PR
:P
artia
lly r
evis
ed.
Sou
rces
:R
eser
ve B
ank
of I
ndia
Bul
letin
, M
ay 2
003,
Jan
uary
200
1, A
pril
1999
Mon
ogra
ph o
n In
dia’
s B
alan
ce o
f P
aym
ents
, Ju
ly 1
993
Balance of Payments 36A
pp
end
ix 2
(B
i):
Tra
nsp
ort
atio
n A
cco
un
t: 1
956-
57 t
o 1
989-
90
1956
-57
1957
-58
1958
-59
1959
-60
1960
-61
1961
-62
1962
-63
1963
-64
1964
-65
1965
-66
1966
-67
1967
-68
1968
-69
1969
-70
1970
-71
1971
-72
1972
-73
Item
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
(12)
(13)
(14)
(15)
(16)
(17)
Rec
eip
ts1
Rem
ittan
ces
of s
urpl
us p
assa
ge10
.610
.78.
47.
37.
19.
47.
711
.79.
78.
315
.117
.619
.317
.119
.922
.115
.9fa
re a
nd f
rieg
ht c
olle
ctio
ns b
yIn
dian
ste
amsh
ip
owne
rs o
rop
erat
ors
abro
ad*
2O
pera
ting
expe
nses
of
fore
ign
9.5
11.5
9.4
8.3
8.1
7.1
9.3
8.8
8.9
8.2
15.6
18.6
17.1
17.3
16.1
17.1
20.0
stea
msh
ip c
ompa
nies
in
Indi
a**
3R
emitt
ance
s of
sur
plus
pas
sage
....
....
....
....
....
....
..-
-fa
re a
nd f
rieg
ht c
olle
ctio
ns b
yIn
dian
air
lines
ope
rato
r or
owne
rs a
broa
d4
Ope
ratin
g ex
pens
es o
f fo
reig
n..
....
....
....
....
....
....
--
air
line
com
pani
es i
n In
dia
5E
stim
ated
fre
ight
on
expo
rts
25.0
23.4
22.6
24.6
24.5
26.0
25.9
30.4
31.4
31.0
42.8
49.6
53.9
55.4
55.3
61.3
74.5
6T
rans
port
atio
n re
ceip
ts..
....
....
....
..1.
93.
35.
65.
64.
83.
95.
15.
56.
1of
oil
com
pani
es**
*7
Oth
ers
1.1
1.8
4.7
4.9
4.9
5.1
6.4
6.5
4.6
2.8
2.3
2.7
4.0
8.1
12.1
5.3
4.4
AT
ota
l46
.247
.445
.145
.144
.647
.649
.357
.456
.553
.681
.494
.199
.110
1.8
108.
511
1.3
120.
9
Pay
men
ts1
Rem
ittan
ces
of s
urpl
us p
assa
ge8.
48.
08.
011
.112
.014
.512
.512
.815
.412
.821
.824
.123
.826
.627
.428
.633
.9fa
re a
nd f
rieg
ht c
olle
ctio
ns t
ofo
reig
n st
eam
ship
ow
ners
or o
pera
tors
abr
oad*
2O
pera
ting
expe
nses
of
Indi
an1.
92.
12.
33.
32.
93.
23.
35.
63.
73.
85.
56.
310
.310
.511
.311
.914
.1st
eam
ship
com
pani
es i
n In
dia*
*3
Rem
ittan
ces
of s
urpl
us p
assa
ge..
....
....
....
..0.
1-
--
--
--
-fa
re a
nd f
rieg
ht c
olle
ctio
ns t
o fo
reig
nai
rlin
es o
pera
tor
or o
wne
rs a
broa
d4
Ope
ratin
g ex
pens
es o
f In
dian
....
....
....
....
--
--
--
0.1
0.1
0.4
air
line
com
pani
es i
n In
dia
5O
pera
ting
expe
nses
of
fore
ign
....
....
....
....
0.3
0.1
0.3
-0.
10.
3-
--
stea
msh
ip a
nd a
ir-l
ine
com
pani
es6
Cha
rter
hir
e pa
ymen
ts..
....
....
....
..1.
11.
33.
36.
79.
913
.211
.45.
62.
77
Rem
ittan
ces
of p
assa
ge e
xpen
ses
....
....
....
....
--
-0.
2-
-0.
1-
-8
Fre
ight
pay
men
t on
exp
orts
....
....
....
....
1.1
1.8
3.9
1.5
1.5
1.7
3.0
2.8
2.2
9 F
rieg
ht p
aym
ent
on i
mpo
rts
2.7
6.9
3.4
1.4
3.9
3.1
3.0
2.4
3.3
1.5
2.2
7.5
8.5
10.0
13.6
8.7
11.1
10 T
rans
port
atio
n pa
ymen
t..
....
....
....
..6.
55.
78.
611
.09.
99.
511
.09.
53.
9of
oil-
com
pani
es@
11 o
ther
s3.
12.
04.
35.
75.
85.
79.
08.
10.
70.
90.
82.
41.
00.
50.
51.
13.
0
B T
ota
l16
.119
.018
.021
.524
.626
.527
.828
.932
.227
.946
.459
.765
.072
.378
.468
.371
.3
Net
(A
-B)
30.1
28.4
27.1
23.6
20.0
21.1
21.5
28.5
24.3
25.7
35.0
34.4
34.1
29.5
30.1
43.0
49.6
(Con
td)
37 Balance of Payments
Ap
pen
dix
2 (
Bi)
: T
ran
spo
rtat
ion
Acc
ou
nt:
195
6-57
to
198
9-90
(C
oncl
uded
)
1973
-74
1974
-75
1975
-76
1976
-77
1977
-78
1978
-79
1979
-80
1980
-81
1981
-82
1982
-83
1983
-84
1984
-85
1985
-86
1986
-87
1987
-88
1988
-89
1989
-90
Item
(18)
(19)
(20)
(21)
(22)
(23)
(24)
(25)
(26)
(27)
(28)
(29)
(30)
(31)
(32)
(33)
(34)
Rec
eip
ts1
Rem
ittan
ces
of s
urpl
us p
assa
ge10
.717
.37.
09.
38.
45.
02.
32.
83.
72.
33.
41.
41.
03.
45.
411
.45.
3fa
re a
nd f
rieg
ht c
olle
ctio
ns b
yIn
dian
ste
amsh
ip
owne
rs o
rop
erat
ors
abro
ad*
2O
pera
ting
expe
nses
of
fore
ign
23.5
58.3
46.4
58.9
42.5
35.9
48.8
59.9
59.5
67.5
41.0
75.9
49.5
51.5
76.0
107.
817
3.9
stea
msh
ip c
ompa
nies
in
Indi
a**
3R
emitt
ance
s of
sur
plus
pas
sage
--
-4.
82.
52.
00.
82.
81.
01.
80.
288
.793
.710
5.2
150.
436
0.8
208.
6fa
re a
nd f
rieg
ht c
olle
ctio
ns b
yIn
dian
air
lines
ope
rato
r or
owne
rs a
broa
d4
Ope
ratin
g ex
pens
es o
f fo
reig
n-
-8.
012
.410
.816
.418
.024
.06.
36.
711
.32.
12.
21.
23.
36.
06.
0ai
r lin
e co
mpa
nies
in
Indi
a5
Est
imat
ed f
reig
ht o
n ex
port
s92
.312
5.2
164.
720
2.2
214.
121
9.3
248.
526
2.6
305.
931
8.1
378.
047
1.1
456.
052
4.5
645.
080
8.3
1098
.66
Tra
nspo
rtat
ion
rece
ipts
8.6
6.8
10.1
3.1
--
--
--
--
--
--
-of
oil
com
pani
es**
*7
Oth
ers
10.1
10.3
20.2
4.1
2.4
1.7
2.8
8.7
21.3
10.8
5.7
4.5
1.5
2.2
1.5
5.5
18.1
AT
ota
l14
5.2
217.
925
6.4
294.
828
0.7
280.
332
1.2
360.
839
7.7
407.
243
9.6
643.
760
3.9
688.
088
1.6
1299
.815
10.5
Pay
men
ts1
Rem
ittan
ces
of s
urpl
us p
assa
ge39
.549
.359
.369
.652
.238
.156
.262
.374
.962
.061
.111
7.5
85.7
96.3
101.
316
8.0
255.
9fa
re a
nd f
rieg
ht c
olle
ctio
ns t
ofo
reig
n st
eam
ship
ow
ners
or o
pera
tors
abr
oad*
2O
pera
ting
expe
nses
of
Indi
an25
.832
.774
.883
.882
.510
7.9
117.
016
2.4
218.
231
1.5
335.
033
2.2
305.
731
8.2
496.
752
5.8
562.
0st
eam
ship
com
pani
es i
n In
dia*
*3
Rem
ittan
ces
of s
urpl
us p
assa
ge2.
6-
6.4
18.4
24.7
34.1
28.3
47.2
69.4
109.
612
3.8
161.
319
1.7
144.
827
5.2
360.
251
8.5
fare
and
fri
eght
col
lect
ions
to
fore
ign
airl
ines
ope
rato
r or
ow
ners
abr
oad
4O
pera
ting
expe
nses
of
Indi
an0.
75.
68.
818
.95.
217
.116
.621
.131
.846
.34.
75.
82.
525
.837
.317
.324
.5ai
r lin
e co
mpa
nies
in
Indi
a5
Ope
ratin
g ex
pens
es o
f fo
reig
n-
-1.
63.
45.
50.
80.
80.
53.
40.
30.
22.
514
.06.
84.
62.
510
.2st
eam
ship
and
air
-lin
e co
mpa
nies
6C
hart
er h
ire
paym
ents
4.2
5.8
8.4
11.2
10.5
8.4
17.0
28.0
35.7
63.1
70.5
90.9
32.5
42.5
64.2
101.
611
9.8
7 R
emitt
ance
s of
pas
sage
exp
ense
s-
--
--
-0.
30.
10.
21.
90.
40.
4-
0.6
0.2
1.1
0.6
8 F
reig
ht p
aym
ent
on e
xpor
ts2.
42.
62.
15.
23.
34.
22.
42.
91.
42.
14.
14.
510
.67.
12.
2-
-9
Fri
eght
pay
men
t on
im
port
s21
.023
.628
.726
.829
.323
.77.
714
.927
.175
.710
3.5
184.
115
1.1
91.1
138.
228
3.4
353.
410
Tra
nspo
rtat
ion
paym
ent
4.0
3.7
2.1
--
--
--
--
--
--
--
of o
il-co
mpa
nies
@11
oth
ers
1.3
9.3
3.5
10.4
2.4
0.9
6.4
15.7
20.4
26.0
11.9
18.5
22.3
14.7
8.0
26.6
11.8
B T
ota
l10
1.5
132.
619
5.7
247.
721
5.6
235.
225
2.7
355.
148
2.5
698.
571
5.2
917.
781
6.1
747.
911
27.9
1486
.518
56.7
Net
(A
-B)
43.7
85.3
60.7
47.1
65.1
45.1
68.5
5.7
-84.
8-2
91.3
-275
.6-2
74.0
-212
.2-5
9.9
-246
.3-1
86.7
-346
.2
Sou
rces
:R
eser
ve B
ank
of I
ndia
Bul
letin
, M
ay 2
003,
Jan
uary
200
1, A
pril
1999
Mon
ogra
ph o
n In
dia’
s B
alan
ce o
f P
aym
ents
, Ju
ly 1
993
Balance of Payments 38A
pp
end
ix 2
(Bii)
: T
ran
spo
rtat
ion
Acc
ou
nt
: 19
90-9
1to
200
1-02
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
Item
1990
-91
1991
-92
1992
-93
1993
-94
1994
-95
1995
-96
12
34
56
78
910
1112
A.
Rec
eip
ts
a.S
ea T
ran
spo
rtS
urpl
us r
emitt
ed b
y In
dian
co
mpa
nies
ope
ratin
g ab
road
11.8
725
.811
31
682.
621
871
0.5
226
303.
991
Ope
ratin
g ex
pens
es o
f fo
reig
n19
4.5
108
199.
381
135.
246
369.
911
850
3.1
160
730.
421
6
com
pani
es i
n In
dia
Cha
rter
hir
e ch
arge
s..
....
....
....
....
....
..b
.A
ir T
ran
spo
rtS
urpl
us r
emitt
ed b
y In
dian
com
pani
es o
pera
ting
abro
ad26
7.7
149
316.
712
961
8.3
212
724
231
726.
623
171
3.8
211
Ope
ratin
g ex
pens
es o
f fo
reig
n12
.77
12.9
54.
92
15.1
519
.76
657.
119
6co
mpa
nies
in
Indi
aC
hart
er h
ire
char
ges
....
....
....
....
....
....
c.F
reig
ht
on
exp
ort
s12
72.2
709
1715
.369
720
88.1
721
2690
.285
832
6210
3941
36.7
1230
d.
Oth
ers
5.7
338
.216
0.9
013
.14
106.
233
222.
667
(in
clu
des
po
rt c
har
ges
, b
un
ker,
stev
edo
rin
g, d
emu
rrag
ean
do
ther
po
rt f
acili
ties
TO
TA
L-A
1764
.698
323
08.2
939
2850
.498
244
94.9
1433
5328
.116
9667
64.5
2011
B.
Pay
men
tsa.
Sea
Tra
nsp
ort
Sur
plus
rem
itted
by
For
eign
371.
420
776
7.6
311
1129
.936
914
41.3
460
1714
.154
623
32.1
695
com
pani
es o
pera
ting
in I
ndia
Ope
ratin
g ex
pens
es o
f In
dian
596.
533
275
2.3
304
1115
.736
484
9.3
271
962.
430
792
5.9
276
com
pani
es a
broa
dC
hart
er h
ire
char
ges
b.
Air
Tra
nsp
ort
Sur
plus
rem
itted
by
For
eign
490.
627
310
73.2
434
1256
.641
016
5752
813
4642
916
68.7
497
com
pani
es o
pera
ting
in I
ndia
Ope
ratin
g ex
pens
es o
f In
dian
121.
568
24.2
1019
5.1
6427
0.5
8633
3.8
106
503.
215
0co
mpa
nies
abr
oad
Cha
rter
hir
e ch
arge
s..
....
....
....
....
....
..c.
Fre
igh
t o
n i
mp
ort
s26
2.8
146
445.
718
070
2.8*
230*
790.
425
263
4.6
202
819.
424
4d
.R
emit
tan
ce o
f p
assa
ge
11
0.2
00.
30
0.2
03.
41
1.2
0b
oo
kin
g a
bro
ade.
Oth
ers
25.5
1462
.626
01
135.
443
292.
392
388.
111
6(i
ncl
ud
es p
ort
ch
arg
es,
bu
nke
r,st
evd
ori
ng
, d
emu
rrag
e an
do
ther
po
rt f
acili
ties
)
TO
TA
L-B
1961
1093
3189
.812
8945
4714
8555
36.5
1765
5851
.818
6372
79.5
2169
Tra
nsp
ort
atio
n N
et (
A-B
)-1
96.4
-110
-881
.6-3
50-1
696.
6-5
03-1
041.
6-3
32-5
23.7
-167
-515
-158
(Con
td)
39 Balance of Payments
Ap
pen
dix
2(B
ii):
Tra
nsp
ort
atio
n A
cco
un
t :
1990
-91t
o 2
001-
02 (
Con
clud
ed)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
Item
1996
-97
1997
-98
1998
-99
1999
-00P
R20
00-0
120
01-0
2
1314
1516
1718
1920
2122
2324
A.
Rec
eip
tsa.
Sea
Tra
nsp
ort
Sur
plus
rem
itted
by
Indi
an
com
pani
es o
pera
ting
abro
ad19
4.2
5518
147
207
4926
261
250
5532
268
Ope
ratin
g ex
pens
es o
f fo
reig
n67
0.8
189
1139
308
844
201
696
161
539
118
665
137
co
mpa
nies
in
Indi
aC
hart
er h
ire
char
ges
....
176
4910
425
181
4221
447
250
52b
.A
ir T
ran
spo
rtS
urpl
us r
emitt
ed b
y In
dian
com
pani
es o
pera
ting
abro
ad94
0.8
265
937
252
700
167
781
180
804
176
835
175
Ope
ratin
g ex
pens
es o
f fo
reig
n28
7.9
8130
181
251
6087
2089
2041
9co
mpa
nies
in
Indi
aC
hart
er h
ire
char
ges
....
7219
374
8910
324
194
7616
c.F
reig
ht
on
exp
ort
s46
26.3
1303
3570
966
4318
1026
4617
1065
6177
1350
6498
1361
d.
Oth
ers
222.
460
429
114
1311
308
673
155
658
143
723
152
(in
clu
des
po
rt c
har
ges
, b
un
ker,
stev
edo
rin
g, d
emu
rrag
ean
do
ther
po
rt f
acili
ties
TO
TA
L-A
6942
.419
5368
0518
3681
0919
2574
0017
0787
5019
1394
1019
69
B.
Pay
men
tsa.
Sea
Tra
nsp
ort
Sur
plus
rem
itted
by
For
eign
2800
.578
923
9664
918
3438
816
8138
718
4140
414
6430
8co
mpa
nies
ope
ratin
g in
Ind
iaO
pera
ting
expe
nses
of
Indi
an12
81.1
361
1070
290
1353
319
1757
406
2058
450
1506
315
com
pani
es a
broa
dC
hart
er h
ire
char
ges
663
179
656
155
501
116
720
161
826
175
b.
Air
Tra
nsp
ort
Sur
plus
rem
itted
by
For
eign
1937
.754
622
4961
032
2676
935
6182
159
3612
9940
7485
4co
mpa
nies
ope
ratin
g in
Ind
iaO
pera
ting
expe
nses
of
Indi
an63
8.8
180
779
208
966
232
580
134
435
9534
673
com
pani
es a
broa
dC
hart
er h
ire
char
ges
....
529
144
345
177
324
7530
767
234
49c.
Fre
igh
t o
n i
mp
ort
s60
0.8
169
1004
268
1584
380
1317
304
2807
615
2369
497
d.
Rem
itta
nce
of
pas
sag
e14
443
011
433
231
104
2434
794
20b
oo
kin
g a
bro
ade.
Oth
ers
518.
514
623
360
969
229
625
144
324
7243
391
(in
clu
des
po
rt c
har
ges
, b
un
ker,
stev
do
rin
g,
dem
urr
age
and
oth
er p
ort
fac
iliti
es)
TO
TA
L-B
8497
.123
9493
5325
2211
265
2680
1045
024
1014
461
3170
1134
623
82T
ran
spo
rtat
ion
Net
(A
-B)
-155
4.7
-441
-254
8-6
86-3
156
-755
-305
0-7
03-5
711
-125
7-1
936
-413
* in
clud
es f
rieg
ht p
aym
ent
on e
xpor
ts a
lso.
Sou
rces
:R
eser
ve B
ank
of I
ndia
Bul
letin
, M
ay 2
003,
Jan
uary
200
1, A
pril
1999
Mon
ogra
ph o
n In
dia’
s B
alan
ce o
f P
aym
ents
, Ju
ly 1
993
Balance of Payments 40
Appendix 2(Ci): Insurance Account : 1956-57 to 1996-67(Rupees, Crore)
Year Life Marine Others Total Total Net
Receipts Payments Receipts Payments Receipts Payments Receipts Payments
1 2 3 4 5 6 7 8 (7-8)
1956-57 0.9 1.2 3.9 0.9 5.6 4.8 10.4 6.9 3.5
1957-58 0.5 0.8 4.3 0.7 4.2 4.0 9.0 5.5 3.5
1958-59 0.3 0.4 3.9 0.8 5.6 4.2 9.8 5.4 4.4
1959-60 0.4 0.4 3.8 0.8 3.8 4.1 8.0 5.3 2.7
1960-61 0.2 0.6 3.9 0.8 4.0 4.4 8.1 5.8 2.3
1961-62 0.2 0.7 4.1 0.8 3.1 4.1 7.4 5.6 1.8
1962-63 0.2 0.5 3.9 0.8 3.5 3.6 7.6 4.9 2.7
1963-64 0.2 0.6 4.4 0.9 3.5 4.0 8.1 5.5 2.6
1964-65 0.1 0.4 4.4 1.1 2.8 3.4 7.3 4.9 2.4
1965-66 0.2 0.3 4.8 1.4 6.7 4.4 11.7 6.1 5.6
1966-67 0.1 0.4 7.2 1.1 4.4 3.7 11.7 5.2 6.5
1967-68 - 0.5 7.5 1.8 5.0 4.5 12.5 6.8 5.7
1968-69 0.1 0.8 8.0 3.3 4.9 5.0 13.0 9.1 3.9
1969-70 0.1 1.6 8.5 4.1 4.6 7.7 13.2 13.4 -0.2
1970-71 0.2 0.3 7.4 2.1 4.7 9.9 12.3 12.3 0.0
1971-72 0.3 0.6 8.0 4.7 5.2 13.9 13.5 19.2 -5.7
1972-73 0.4 1.2 10.3 1.9 5.7 9.2 16.4 12.3 4.1
1973-74 0.6 0.4 12.2 2.5 7.7 10.7 20.5 13.6 6.9
1974-75 - 0.6 16.7 2.8 9.3 10.5 26.0 13.9 12.1
1975-76 0.1 1.4 21.6 8.2 13.9 14.8 35.6 24.4 11.2
1976-77 0.2 0.8 26.7 9.1 4.7 19.8 31.6 29.7 1.9
1977-78 0.3 1.2 28.3 15.1 6.8 14.8 35.4 31.1 4.3
1978-79 0.4 6.1 28.9 12.2 6.9 18.8 36.2 37.1 -0.9
1979-80 0.2 2.2 32.7 7.3 13.2 18.5 46.1 28.0 18.1
1980-81 0.2 2.9 34.5 9.7 15.9 21.3 50.6 33.9 16.7
1981-82 0.8 3.1 40.7 8.4 13.2 28.6 54.7 40.1 14.6
1982-83 0.4 2.8 42.9 17.5 14.7 48.6 58.0 68.9 -10.9
1983-84 6.3 2.4 50.1 15.7 57.4 57.1 113.8 75.2 38.6
1984-85 0.4 5.8 61.9 20.8 26.5 57.5 88.8 84.1 4.7
1985-86 0.8 3.1 60.4 28.2 17.4 52.0 78.6 83.3 -4.7
1986-87 0.9 3.9 69.3 37.5 12.9 60.2 83.1 101.6 -18.5
1987-88 1.3 2.0 86.3 22.9 17.9 82.0 105.5 106.9 -1.4
1988-89 1.7 3.0 107.0 30.0 27.3 62.2 136.0 95.2 40.8
1989-90 8.4 4.4 146.3 24.5 43.2 110.8 197.9 139.7 58.2
1990-91 5.6 12.4 1.4 47.9 191.4 98.1 198.4 158.4 40.0
1991-92 10.0 8.5 2.9 67.9 251.8 230.4 264.7 306.8 -42.1
1992-93 7.8 19.5 1.0 122.2 450.6 307.2 459.4 448.9 10.5
1993-94 3.9 8.7 0.8 121.3 383.4 481.8 388.1 611.8 -223.7
1994-95 3.5 9.4 2.8 78.8 469.4 478.4 475.7 566.6 -90.9
1995-96 4.1 22.0 2.9 67.4 592.6 389.5 599.6 478.9 120.7
1996-97 6.0 46.3 12.9 112.4 752.2 383.9 771.1 542.6 228.5
Sources: Reserve Bank of India Bulletin, May 2003, January 2001, April 1999Monograph on India’s Balance of Payments, July 1993
41 Balance of Payments
Ap
pen
dix
2(C
ii):
Insu
ran
ce A
cco
un
t :
1997
-98
to 2
001-
02
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
Item
1997
-98
1998
-99
1998
-99
1999
-00
1999
-00
2000
-01
2000
-01
2001
-02
2001
-02
12
34
56
78
910
A.
Rec
eip
ts
a.In
sura
nce
on
exp
ort
683
184
744
176
832
192
1056
231
1110
232
b.
Pre
miu
mLi
fe19
52
03
15
125
5N
on-li
fe1
034
831
722
526
5R
eins
uran
ce f
rom
for
eign
com
pani
es50
1278
1943
1018
436
8
c.C
om
mis
sio
n o
n B
usi
nes
sre
ceiv
ed f
rom
fo
reig
n c
om
pan
ies
51
154
20
72
143
d.
Oth
ers
132
3872
1793
2168
1568
14
(in
clu
des
set
tlem
ent
of
clai
ms
o
n a
cco
un
t o
f in
sura
nce
an
d
re-i
nsu
ran
ce)
TO
TA
L-A
890
240
945
224
1004
231
1176
257
1279
267
B.
Pay
men
ts
a.P
rem
ium
Life
41
20
31
10
31
Non
-life
197
5493
3445
1043
912
326
Rei
nsur
ance
333
8919
246
328
7634
475
780
163
b.
Co
mm
issi
on
on
Bu
sin
ess
123
61
246
10
112
c.O
ther
s13
436
179
3112
529
173
3829
162
(i
ncl
ud
es s
ettl
emen
t o
f cl
aim
s
on
acc
ou
nt
of
insu
ran
ce a
nd
re
insu
ran
ce
TO
TA
L-B
680
183
472
112
525
122
562
122
1208
254
Insu
ran
ce N
et (
A-B
)21
057
473
112
479
109
614
135
7113
Sou
rces
:R
eser
ve B
ank
of I
ndia
Bul
letin
, M
ay 2
003,
Jan
uary
200
1, A
pril
1999
Mon
ogra
ph o
n In
dia’
s B
alan
ce o
f P
aym
ents
, Ju
ly 1
993
Balance of Payments 42A
pp
end
ix 2
(Di)
: In
vest
men
t In
com
e A
cco
un
t :
1956
-57
to 1
996-
97
Item
1956
-57
1957
-58
1958
-59
1959
-60
1960
-61
1961
-62
1962
-63
1963
-64
1964
-65
1965
-66
1966
-67
1967
-68
1968
-69
1969
-70
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
(12)
(13)
(14)
Rec
eip
ts1
Cur
rent
pro
fits
....
....
..0.
91.
00.
81.
00.
70.
90.
90.
80.
72
Div
iden
ds o
f fo
reig
n go
vern
men
t..
....
....
0.5
0.5
0.4
0.5
0.5
1.1
1.0
0.7
0.6
s
ecur
ities
hel
d by
res
iden
ts3
Inte
rest
on
fore
ign
gove
rnm
ent
....
....
..8.
26.
77.
37.
46.
514
.215
.121
.029
.7
sec
uriti
es h
eld
by r
esid
ents
4In
tere
st o
n (n
on-b
anki
ng)
....
....
..-
--
0.3
0.2
0.2
0.4
0.3
0.3
p
riva
te c
laim
s on
non
-res
iden
ts5
Inte
rest
on
loan
s ex
tend
ed t
o no
n-re
side
nts
....
....
..-
--
--
--
--
b
y of
ficia
l an
d se
mi-
offic
ial
inst
itutio
ns6
Inte
rest
on
over
draf
ts,
loan
s, e
xten
ded
to..
....
....
0.1
0.1
0.2
0.3
0.3
0.3
0.3
0.2
0.1
n
on-r
esid
ent
bank
s an
d on
bal
ance
s
hel
d ab
road
by
bank
s in
Ind
ia7
Inte
rest
on
hold
ings
of
SD
Rs
--
--
--
--
--
--
--
8T
axes
and
tax
ref
unds
on
prof
its,
....
....
..1.
41.
20.
81.
11.
60.
81.
41.
21.
4
div
iden
ds a
nd i
nter
est
9In
com
e on
rea
l es
tate
....
....
..-
--
-0.
2-
--
-10
Oth
ers
....
....
..1.
11.
31.
40.
80.
90.
80.
91.
21.
1A
To
tal
32.8
23.3
16.3
14.0
14.2
12.2
10.8
10.9
11.4
10.9
18.3
20.0
25.4
33.9
of w
hich
:P
riva
te i
nves
tmen
t in
com
e re
ceip
ts6.
47.
17.
44.
84.
64.
14.
24.
04.
24.
54.
24.
94.
44.
3G
over
nmen
t in
vest
men
t in
com
e re
ceip
ts26
.416
.28.
99.
29.
68.
16.
66.
97.
26.
414
.115
.121
.029
.6P
aym
ents
1C
urre
nt p
rofit
s9.
011
.811
.510
.812
.210
.310
.17.
39.
89.
815
.58.
98.
08.
72
Div
iden
ds o
f fo
reig
n co
ntro
lled
com
pani
es*
7.1
8.8
8.3
11.7
12.4
18.5
20.8
18.8
18.1
17.2
24.7
29.3
25.2
27.6
3D
ivid
ends
of
non-
cont
rolle
d co
mpa
nies
....
....
....
--
3.9
2.2
4.1
3.4
4.8
4.1
4In
tere
st o
n go
vern
men
t se
curi
ties
....
....
....
--
0.2
0.2
0.3
0.1
0.2
0.1
a
nd o
blig
atio
ns h
eld
by n
on-r
esid
ents
5In
tere
st o
n ob
ligat
ions
of
priv
ate
....
....
....
--
0.5
0.5
1.8
2.5
2.6
4.9
i
ndiv
idua
ls i
nstit
utio
ns o
ther
t
han
bank
ing
inst
itutio
ns6
Inte
rest
on
long
-ter
m l
oans
rec
eive
d6.
77.
114
.323
.334
.347
.257
.973
.277
.494
.415
0.1
169.
818
4.8
189.
8
fro
m n
on-r
esid
ents
inc
ludi
ng i
nter
natio
nal
i
nstit
utio
ns b
y of
ficia
l an
d pr
ivat
e se
ctor
s**
Of
whi
ch:
Inte
rest
on
long
-ter
m l
oans
rec
eive
d
fro
m f
orei
gn g
over
nmen
ts a
nd
int
erna
tiona
l in
stitu
tions
by:
(i
) O
ffic
ial
sect
or4.
04.
59.
117
.126
.743
.153
.462
.472
.086
.013
5.3
154.
216
7.6
176.
3
(ii)
Pri
vate
sec
tor
2.7
2.6
5.2
6.2
7.6
4.1
4.5
10.8
5.4
8.4
14.8
15.6
17.2
13.5
7In
tere
st o
n lo
ans
and
over
draf
ts..
....
....
..-
-0.
30.
51.
01.
30.
41.
0
obt
aine
d by
ban
king
ins
titut
ions
8In
tere
st o
n ba
lanc
es h
eld
in I
ndia
by
....
....
....
--
6.1
7.2
11.2
10.6
11.4
9.6
n
on-r
esid
ent
bank
s an
d of
ficia
l in
stitu
tions
9C
harg
es o
n ut
itlis
atio
n of
SD
Rs
--
--
--
--
--
--
--
10T
axes
and
tax
ref
unds
on
prof
its,
....
....
....
--
2.4
2.3
1.2
1.5
2.1
2.4
d
ivid
ends
and
int
eres
t11
Ret
aine
d ea
rnin
gs o
f fo
reig
n..
....
....
..-
--
--
-17
.029
.0
con
trol
led
rupe
e co
mpa
nies
12In
com
e on
rea
l es
tate
ow
ned
by f
orei
gner
s..
....
....
..-
-0.
40.
10.
5-
--
13O
ther
s1.
10.
82.
11.
53.
04.
45.
63.
60.
60.
70.
53.
21.
52.
7B
To
tal*
23.9
28.5
36.2
47.3
61.9
80.4
94.4
102.
911
9.7
135.
121
0.9
230.
625
8.0
279.
9of
whi
chP
riva
te i
nves
tmen
t in
com
e pa
ymen
ts19
.924
.027
.130
.235
.237
.340
.940
.543
.542
.364
.766
.179
.694
.1G
over
nmen
t in
vest
men
t in
com
e pa
ymen
ts4.
04.
59.
117
.126
.743
.153
.562
.476
.292
.814
6.2
164.
517
8.4
185.
8N
et (
A-B
)8.
9-5
.2-1
9.9
-33.
3-4
7.7
-68.
2-8
3.6
-92.
0-1
08.3
-124
.2-1
92.6
-210
.6-2
32.6
-246
.0
(Con
td)
43 Balance of Payments
Ap
pen
dix
2(D
i):
Inve
stm
ent
Inco
me
Acc
ou
nt
: 19
56-5
7 to
199
6-97
Item
1970
-71
1971
-72
1972
-73
1973
-74
1974
-75
1975
-76
1976
-77
1977
-78
1978
-79
1979
-80
1980
-81
1981
-82
1982
-83
1983
-84
(15)
(16)
(17)
(18)
(19)
(20)
(21)
(22)
(23)
(24)
(25)
(26)
(27)
(28)
Rec
eip
ts1
Cur
rent
pro
fits
0.5
1.3
1.1
0.6
1.2
3.7
4.8
1.8
2.0
1.7
2.7
2.7
2.0
0.9
2D
ivid
ends
of
fore
ign
gove
rnm
ent
0.4
0.5
0.9
0.5
1.1
0.7
1.1
1.3
0.3
0.3
0.3
0.4
0.6
0.9
s
ecur
ities
hel
d by
res
iden
ts3
Inte
rest
on
fore
ign
gove
rnm
ent
44.2
28.9
23.9
32.0
80.0
91.2
150.
719
2.3
304.
352
2.1
674.
259
5.1
353.
939
2.9
s
ecur
ities
hel
d by
res
iden
ts4
Inte
rest
on
(non
-ban
king
)0.
81.
70.
10.
10.
10.
30.
60.
2-
-0.
10.
71.
81.
3
pri
vate
cla
ims
on n
on-r
esid
ents
5In
tere
st o
n lo
ans
exte
nded
to
non-
resi
dent
s-
1.2
3.0
4.6
6.4
4.9
7.0
14.1
13.7
8.6
5.3
11.6
20.7
11.9
b
y of
ficia
l an
d se
mi-
offic
ial
inst
itutio
ns6
Inte
rest
on
over
draf
ts,
loan
s, e
xten
ded
to1.
10.
40.
20.
20.
30.
50.
21.
10.
80.
20.
10.
82.
70.
5
non
-res
iden
t ba
nks
and
on b
alan
ces
h
eld
abro
ad b
y ba
nks
in I
ndia
7In
tere
st o
n ho
ldin
gs o
f S
DR
s-
--
2.8
2.8
8.0
8.8
7.4
6.0
13.2
33.8
47.8
64.5
49.9
8T
axes
and
tax
ref
unds
on
prof
its,
1.0
1.5
0.7
1.2
2.2
1.5
0.9
1.0
2.0
1.2
1.4
2.1
13.1
0.8
d
ivid
ends
and
int
eres
t9
Inco
me
on r
eal
esta
te-
0.1
0.1
--
--
-0.
1-
0.1
-1.
0-
10O
ther
s1.
11.
01.
22.
13.
58.
41.
62.
92.
02.
05.
64.
34.
73.
4A
To
tal
49.1
36.6
31.2
44.1
97.6
119.
217
5.7
222.
133
1.2
549.
372
3.6
665.
546
5.0
462.
5of
whi
ch:
Pri
vate
inv
estm
ent
inco
me
rece
ipts
5.0
6.4
6.5
7.0
12.1
18.1
13.8
12.7
12.0
7.8
12.9
20.0
15.1
8.0
Gov
ernm
ent
inve
stm
ent
inco
me
rece
ipts
44.1
30.2
24.7
37.1
85.5
101.
116
1.9
209.
431
9.2
541.
571
0.7
645.
544
9.9
454.
5P
aym
ents
1C
urre
nt p
rofit
s9.
77.
27.
614
.04.
211
.57.
06.
34.
92.
55.
36.
418
.115
.82
Div
iden
ds o
f fo
reig
n co
ntro
lled
com
pani
es*
37.4
33.8
34.4
32.3
15.8
21.2
41.2
48.4
43.0
32.0
30.3
33.1
25.8
33.5
3D
ivid
ends
of
non-
cont
rolle
d co
mpa
nies
4.8
5.1
4.7
5.2
2.5
3.7
7.3
19.5
11.4
18.9
25.6
25.8
44.5
28.6
4In
tere
st o
n go
vern
men
t se
curi
ties
0.3
0.3
0.1
-0.
10.
61.
43.
63.
30.
6-
5.1
0.5
0.4
a
nd o
blig
atio
ns h
eld
by n
on-r
esid
ents
5In
tere
st o
n ob
ligat
ions
of
priv
ate
1.7
1.8
0.6
1.1
2.2
2.0
2.1
2.1
4.7
3.3
2.0
0.6
10.5
15.7
i
ndiv
idua
ls i
nstit
utio
ns o
ther
t
han
bank
ing
inst
itutio
ns6
Inte
rest
on
long
-ter
m l
oans
rec
eive
d20
3.8
207.
323
0.3
243.
623
4.7
217.
324
4.7
275.
527
6.4
282.
024
4.1
279.
339
5.3
463.
0
fro
m n
on-r
esid
ents
inc
ludi
ng i
nter
natio
nal
i
nstit
utio
ns b
y of
ficia
l an
d pr
ivat
e se
ctor
s**
Of
whi
ch:
Inte
rest
on
long
-ter
m l
oans
rec
eive
d
fro
m f
orei
gn g
over
nmen
ts a
nd
int
erna
tiona
l in
stitu
tions
by:
(i
) O
ffic
ial
sect
or18
6.1
183.
620
3.5
216.
418
5.2
180.
820
8.0
243.
323
6.6
248.
220
5.5
237.
231
4.4
381.
1
(ii)
Pri
vate
sec
tor
17.7
23.7
26.8
27.2
49.5
36.5
36.7
32.2
39.8
33.8
38.6
42.1
80.9
81.9
7In
tere
st o
n lo
ans
and
over
draf
ts1.
20.
90.
70.
51.
11.
42.
82.
919
.929
.530
.133
.639
.354
.7
obt
aine
d by
ban
king
ins
titut
ions
8In
tere
st o
n ba
lanc
es h
eld
in I
ndia
by
10.4
10.1
9.6
11.6
0.3
0.8
1.3
0.7
0.7
0.2
0.7
0.2
0.6
0.9
n
on-r
esid
ent
bank
s an
d of
ficia
l in
stitu
tions
9C
harg
es o
n ut
itlis
atio
n of
SD
Rs
-1.
8-
3.7
7.5
39.0
13.2
12.8
12.3
18.5
45.7
77.9
239.
238
3.6
10T
axes
and
tax
ref
unds
on
prof
its,
2.6
2.1
2.2
2.1
2.7
1.2
5.8
3.3
18.9
2.3
2.4
4.0
3.0
6.5
d
ivid
ends
and
int
eres
t11
Ret
aine
d ea
rnin
gs o
f fo
reig
n28
.432
.533
.647
.273
.443
.337
.154
.357
.563
.178
.2..
....
c
ontr
olle
d ru
pee
com
pani
es12
Inco
me
on r
eal
esta
te o
wne
d by
for
eign
ers
--
-0.
1-
-0.
3-
-0.
10.
10.
1-
-13
Oth
ers
3.0
2.8
5.3
0.9
1.2
1.0
0.4
4.1
5.4
7.2
2.7
8.8
11.2
3.6
BT
ota
l*30
3.3
305.
732
9.1
362.
334
5.7
343.
036
4.6
433.
545
8.4
460.
246
7.2
474.
978
8.0
1006
.3of
whi
chP
riva
te i
nves
tmen
t in
com
e pa
ymen
ts10
7.0
110.
111
5.9
130.
115
3.4
121.
714
1.9
174.
920
8.0
193.
021
4.7
154.
823
3.8
250.
2G
over
nmen
t in
vest
men
t in
com
e pa
ymen
ts19
6.3
195.
621
3.2
232.
219
2.3
221.
322
2.7
258.
625
0.4
267.
225
2.5
320.
155
4.2
756.
1N
et (
A-B
)-2
54.2
-269
.1-2
97.9
-318
.2-2
48.1
-223
.8-1
88.9
-211
.4-1
27.2
89.1
256.
419
0.6
-323
.0-5
43.8
(Con
td)
Balance of Payments 44A
pp
end
ix 2
(Di)
: In
vest
men
t In
com
e A
cco
un
t :
1956
-57
to 1
996-
97 (
Con
clud
ed)
Item
1984
-85
1985
-86
1986
-87
1987
-88
1988
-89
1989
-90
1990
-91
1991
-92
1992
-93
1993
-94
1994
-95
1995
-96
1996
-97
(29)
(30)
(31)
(32)
(33)
(34)
(35)
(36)
(37)
(38)
(39)
(40)
(41)
Rec
eip
ts1
Cur
rent
pro
fits
1.5
3.2
1.4
0.4
1.4
9.0
2.1
1.5
0.2
1.3
61.0
82.1
107.
62
Div
iden
ds o
f fo
reig
n go
vern
men
t0.
21.
50.
91.
61.
42.
82.
83.
711
.24.
46.
416
.019
.6
sec
uriti
es h
eld
by r
esid
ents
3In
tere
st o
n fo
reig
n go
vern
men
t52
1.3
571.
157
7.5
5.2
481.
651
4.0
476.
839
0.3
842.
810
69.7
2604
.045
18.3
3329
.8
sec
uriti
es h
eld
by r
esid
ents
4In
tere
st o
n (n
on-b
anki
ng)
3.4
1.3
1.2
1.8
4.0
3.9
4.5
4.0
22.7
5.9
6.1
20.0
95.0
p
riva
te c
laim
s on
non
-res
iden
ts5
Inte
rest
on
loan
s ex
tend
ed t
o no
n-re
side
nts
2.8
2.7
7.4
24.0
15.5
16.1
64.6
69.6
51.9
44.4
0.2
0.9
5.6
b
y of
ficia
l an
d se
mi-
offic
ial
inst
itutio
ns6
Inte
rest
on
over
draf
ts,
loan
s, e
xten
ded
to0.
80.
50.
40.
51.
67.
24.
75.
54.
07.
70.
45.
031
.0
non
-res
iden
t ba
nks
and
on b
alan
ces
h
eld
abro
ad b
y ba
nks
in I
ndia
7In
tere
st o
n ho
ldin
gs o
f S
DR
s53
.737
.437
.036
.133
.658
.367
.950
.845
.582
.67.
913
.77.
18
Tax
es a
nd t
ax r
efun
ds o
n pr
ofits
,1.
00.
61.
02.
23.
73.
72.
16.
52.
46.
538
.422
.312
1.9
d
ivid
ends
and
int
eres
t9
Inco
me
on r
eal
esta
te-
0.1
0.1
--
-0.
00.
00.
00.
00.
00.
02.
010
Oth
ers
1.2
50.7
*13
.610
.059
.972
.835
.09.
923
.215
.158
.153
.791
.4A
To
tal
585.
966
9.1
640.
581
.860
2.7
687.
866
0.5
541.
810
03.9
1237
.627
82.5
4732
.038
11.0
of w
hich
:P
riva
te i
nves
tmen
t in
com
e re
ceip
ts5.
019
.217
0.9
15.3
18.3
34.2
....
....
....
..G
over
nmen
t in
vest
men
t in
com
e re
ceip
ts58
0.9
649.
946
9.6
563.
358
4.4
653.
6..
....
....
....
Pay
men
ts1
Cur
rent
pro
fits
12.5
10.6
7.8
9.2
40.8
39.1
34.8
51.1
40.0
18.9
3.4
25.4
16.0
2D
ivid
ends
of
fore
ign
cont
rolle
d co
mpa
nies
*33
.932
.740
.231
.834
.632
.070
.610
3.4
78.6
149.
826
7.7
504.
710
2.1
3D
ivid
ends
of
non-
cont
rolle
d co
mpa
nies
44.3
42.6
45.2
60.2
90.9
109.
514
6.5
166.
226
6.7
129.
230
4.5
377.
283
4.8
4In
tere
st o
n go
vern
men
t se
curi
ties
36.5
21.1
6.1
2.7
0.8
2.6
4.0
6.6
5.8
12.4
5.1
20.2
33.4
a
nd o
blig
atio
ns h
eld
by n
on-r
esid
ents
5In
tere
st o
n ob
ligat
ions
of
priv
ate
102.
423
.973
.317
8.0
145.
216
0.6
212.
754
2.7
218.
222
7.9
465.
211
26.9
708.
0
ind
ivid
uals
ins
titut
ions
oth
er
tha
n ba
nkin
g in
stitu
tions
6In
tere
st o
n lo
ng-t
erm
loa
ns r
ecei
ved
725.
587
2.9
1067
.815
04.9
2152
.331
02.8
4555
.455
62.3
6994
.271
13.3
7711
.273
76.1
6927
.2
fro
m n
on-r
esid
ents
inc
ludi
ng i
nter
natio
nal
i
nstit
utio
ns b
y of
ficia
l an
d pr
ivat
e se
ctor
s**
Of
whi
ch:
Inte
rest
on
long
-ter
m l
oans
rec
eive
d
fro
m f
orei
gn g
over
nmen
ts a
nd
int
erna
tiona
l in
stitu
tions
by:
(i
) O
ffic
ial
sect
or60
1.4
644.
974
4.5
1164
.917
63.0
2478
.4..
....
....
....
(i
i) P
riva
te s
ecto
r12
4.1
228.
032
3.3
340.
038
9.3
624.
4..
....
....
....
7In
tere
st o
n lo
ans
and
over
draf
ts85
.766
.317
0.2
56.9
151.
876
.174
.316
3.6
175.
532
.634
3.9
187.
878
.9
obt
aine
d by
ban
king
ins
titut
ions
8In
tere
st o
n ba
lanc
es h
eld
in I
ndia
by
4.5
13.7
1.2
12.0
31.9
3.4
10.1
0.6
1.4
1.8
53.2
111.
515
6.4
n
on-r
esid
ent
bank
s an
d of
ficia
l in
stitu
tions
9C
harg
es o
n ut
itlis
atio
n of
SD
Rs
508.
749
9.1
464.
744
3.7
408.
043
3.2
402.
178
3.5
885.
591
9.5
834.
863
4.4
472.
210
Tax
es a
nd t
ax r
efun
ds o
n pr
ofits
,3.
23.
97.
54.
42.
67.
621
.114
.817
.214
.87.
535
.538
.8
div
iden
ds a
nd i
nter
est
11R
etai
ned
earn
ings
of
fore
ign
....
....
....
....
....
....
..
con
trol
led
rupe
e co
mpa
nies
12In
com
e on
rea
l es
tate
ow
ned
by f
orei
gner
s-
2.5
--
0.1
1.5
0.0
0.0
0.0
0.4
1.5
3.2
0.4
13O
ther
s24
.829
.76.
08.
421
.835
.613
.122
.621
.355
.831
4.5
1372
.731
8.5
BT
ota
l*15
82.0
1619
.018
90.0
2312
.230
80.8
-556
2.4
7392
.999
38.5
1150
6.7
1149
6.4
1355
4.5
1544
8.5
1557
9.5
of w
hich
Pri
vate
inv
estm
ent
inco
me
paym
ents
685.
154
6.0
673.
872
4.3
903.
110
73.4
....
....
....
..G
over
nmen
t in
vest
men
t in
com
e pa
ymen
ts89
6.9
1073
.012
16.2
1587
.921
77.7
2930
.6..
....
....
....
Net
(A
-B)
-996
.1-9
49.9
-124
9.5
-223
0.4
-247
8.1
-487
4.6
-673
2.4
-939
6.7
-105
02.8
-102
58.8
-107
72.0
-107
16.5
-117
68.5
* T
otal
fig
ures
pos
t 19
89-9
0 in
clud
e ce
rtai
n ite
ms
elab
orat
ed i
n R
BI
Bul
letin
, A
pril
1999
. H
ence
the
sum
will
not
tal
ly.@
: U
pto
196
3-64
thi
s ite
m i
nclu
des
divi
dend
s of
non
-con
trol
led
com
pani
es.
:**:
Inte
rest
Pay
men
ts i
n 19
61 i
nclu
de f
or U
.K.
Indi
a cr
edit
for
oil-
pipe
lin
e un
der
priv
ate
acco
unt.
:*:
incl
ude
an i
nter
est
subs
idy
of R
s 44
.5 c
rore
rec
eive
d fr
om I
MF
.N
ote
: D
ata
do n
ot i
nclu
de i
nter
est
on F
orei
gn C
urre
ncy
(Non
-Res
iden
ts)
Acc
ount
s sc
hem
e si
nce
its i
ncep
tion
in 1
975.
Sou
rces
: R
eser
ve B
ank
of I
ndia
Bul
letin
, M
ay 2
003,
Jan
uary
200
1, A
pril
1999
Mon
ogra
ph o
n In
dia’
s B
alan
ce o
f P
aym
ents
, Ju
ly 1
993
45 Balance of Payments
Ap
pen
dix
2(D
ii):
Inco
me
Acc
ou
nt
: 19
97-9
8 to
200
1-02
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
Item
1997
-98
1997
-98
1998
-99
1998
-99
1999
-00P
R19
99-0
0PR
2000
-01
2000
-01
2001
-02
2001
-02
AR
EC
EIP
TS
IC
om
pen
sati
on
of
Em
plo
yees
1W
ages
rec
eive
d by
the
Ind
ians
wor
king
00
180
4264
614
848
710
740
486
on
for
eign
con
trac
ts o
r th
e fo
reig
ners
w
orki
ng i
n In
dia
on f
orei
gn c
ontr
acts
IIIn
vest
men
t In
com
e1
Inte
rest
rec
eive
d on
loa
ns
to n
on-r
esid
ents
171
4629
469
688
159
741
163
2041
428
2D
ivid
end/
prof
it re
ceiv
ed b
y In
dian
s95
2510
325
6816
113
1623
048
on
for
eign
inv
estm
ent
3In
tere
st r
ecei
ved
on d
eben
ture
s, F
RN
s,44
1220
550
1110
361
13
CP
s, F
i de
posi
ts a
nd f
unds
hel
d ab
road
by
A
ds o
ut o
f fo
reig
n cu
rren
cy l
oans
/exp
ort
proc
eeds
4In
tere
st r
ecei
ved
on o
verd
raft
of
VO
ST
RO
acc
ount
s55
1440
1038
1021
652
11
of f
orei
gn c
orre
sond
ents
/bra
nche
s by
the
Ads
5P
aym
ent
of t
axes
by
the
non-
resi
dent
s/re
fund
1315
358
1799
426
854
195
456
104
691
145
of
tax
es b
y fo
reig
n go
vern
men
ts t
o In
dian
s6
Inte
rest
/dis
coun
t et
c. e
arni
ngs
on R
BI
inve
stm
ent
4113
1105
5691
1357
5992
1383
8926
1951
9597
2010
7In
tere
st/r
emun
erat
ion
on S
DR
hol
ding
s2
16
137
969
1639
8T
OT
AL
-II
5795
1561
7953
1893
7727
1783
1033
622
5912
711
2663
BT
OT
AL
- I
+II
5795
1561
8133
1935
8373
1931
1082
323
6613
115
2749
CP
AY
ME
NT
S
IC
om
pen
sati
on
of
Em
plo
yees
1P
aym
ent
of w
ages
/sal
ary
to N
on-r
esid
ents
wor
king
235
6269
1757
1245
1054
12
in I
ndia
or
Indi
ans
wor
king
on
proj
ects
abr
oad
IIIn
vest
men
t In
com
e1
Pay
men
t of
int
eres
t on
non
-res
iden
t de
posi
ts53
8414
3669
1916
3775
4917
4278
0317
1076
1315
962
Pay
men
t of
int
eres
t on
loa
ns f
rom
non
-res
iden
ts10
442
2799
1165
727
6213
167
3037
1504
832
9713
401
2808
3P
aym
ent
of d
ivid
end/
prof
it t
o no
n-re
side
nt s
hare
hol
ders
2170
578
2752
658
2333
537
4395
963
3756
787
4P
aym
ent
of i
nter
est
on d
eben
ture
s, F
RN
s, C
Ps,
106
2893
622
151
211
957
112
546
898
fix
ed d
epos
its,
gove
rnm
ent
secu
ritie
s et
c.5
Cha
rges
on
SD
Rs
317
8525
862
132
3018
340
243
516
Inte
rest
pai
d on
ove
rdra
ft o
n N
OS
TR
O A
ccou
nt15
641
134
20
00
00
7P
aym
ent
of t
axes
by
the
Indi
ans/
refu
nd18
953
497
118
5213
192
4224
351
of
tax
es b
y go
vern
men
t to
non
-res
iden
tsT
OT
AL
- I
I18
764
5020
2303
254
6223
747
5478
2819
261
7725
724
5391
DT
OT
AL
-C (
I+II)
1899
950
8223
101
5479
2380
454
9023
237
6187
2577
854
03
EC
om
pen
sati
on
of
Em
plo
yees
Net
(A
-B)
-235
-62
111
2558
913
644
297
350
74F
Inve
stm
ent
Inco
me
Net
(A
-B)
-129
69-3
459
-150
79-3
569
-160
20-3
695
-178
56-3
918
-130
13-2
728
GT
ota
l R
ecei
pts
-Pay
men
ts (
B-D
)-1
3204
-352
1-1
4968
-354
4-1
5431
-355
9-1
7414
-382
1-1
2663
-265
4
Sou
rces
: R
eser
ve B
ank
of I
ndia
Bul
letin
, M
ay 2
003,
Jan
uary
200
1, A
pril
1999
Mon
ogra
ph o
n In
dia'
s B
alan
ce o
f P
aym
ents
, Ju
ly 1
993
Balance of Payments 46A
pp
end
ix 2
(Ei)
: G
ove
rnm
ent
no
t in
clu
ded
els
ewh
ere
Acc
ou
nt
: F
rom
195
6-57
to
198
9-90
Item
1956
-57
1957
-58
1958
-59
1959
-60
1960
-61
1961
-62
1962
-63
1963
-64
1964
-65
1965
-66
1966
-67
1967
-68
1968
-69
1969
-70
1970
-71
1971
-72
1972
-73
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
(12)
(13)
(14)
(15)
(16)
(17)
1M
aint
enan
ce o
f fo
reig
n em
bass
ies
15.0
7.8
16.3
26.1
20.0
14.0
19.8
30.3
57.1
40.1
71.3
67.7
36.8
22.1
23.6
22.1
25.1
and
dipl
omat
ic m
issi
ons
in I
ndia
incl
udin
g U
.S.
emba
ssy
expe
nditu
reou
t of
PL
480
fund
s2
Mai
nten
ance
of
inte
rnat
iona
l an
d-
--
--
--
--
0.4
1.3
0.2
0.5
1.3
0.9
1.3
2.1
regi
onal
ins
titut
ions
in
Indi
a3
PL
480
frei
ght
refu
nd*
2.0
7.4
15.6
14.6
24.1
9.7
17.8
28.3
33.2
--
--
--
--
4O
ther
s6.
79.
37.
18.
66.
95.
812
.510
.95.
95.
09.
012
.76.
13.
55.
35.
53.
6A
To
tal
23.7
24.5
39.0
49.3
51.0
29.5
50.1
69.5
96.2
45.5
81.6
80.6
43.4
26.9
29.8
28.9
30.8
Pay
men
ts1
Mai
nten
amce
of
Indi
an e
mba
ssie
s7.
27.
17.
05.
27.
38.
27.
49.
810
.911
.119
.314
.514
.616
.614
.116
.113
.6an
d di
plom
atic
mis
sion
s ab
road
2C
ontr
ibut
ion
to I
ndus
Bas
in-
--
-8.
38.
38.
38.
3-
--
--
--
--
Dev
elop
men
t F
und*
*3
Oth
ers
5.5
6.8
7.5
7.2
5.7
7.7
9.5
6.1
4.0
4.5
3.4
10.1
6.5
7.1
9.0
8.0
9.1
BT
ota
l12
.713
.914
.512
.421
.324
.225
.224
.214
.915
.622
.724
.621
.123
.723
.124
.122
.7N
et (
A-B
)11
.010
.624
.536
.929
.75.
324
.945
.381
.329
.958
.956
.022
.33.
26.
74.
88.
1
Item
1973
-74
1974
-75
1975
-76
1976
-77
1977
-78
1978
-79
1979
-80
1980
-81
1981
-82
1982
-83
1983
-84
1984
-85
1985
-86
1986
-87
1987
-88
1988
-89
1989
-90
(18)
(19)
(20)
(21)
(22)
(23)
(24)
(25)
(26)
(27)
(28)
(29)
(30)
(31)
(32)
(33)
(34)
1M
aint
enan
ce o
f fo
reig
n em
bass
ies
25.9
51.9
70.6
57.9
64.7
82.4
73.5
72.1
111.
092
.911
8.0
93.8
114.
910
6.0
81.8
65.7
31.2
and
dipl
omat
ic m
issi
ons
in I
ndia
incl
udin
g U
.S.
emba
ssy
expe
nditu
reou
t of
PL
480
fund
s2
Mai
nten
ance
of
inte
rnat
iona
l an
d2.
54.
16.
52.
54.
40.
8-
10.9
18.0
12.1
17.6
10.9
0.8
26.7
38.6
44.2
19.7
regi
onal
ins
titut
ions
in
Indi
a3
PL
480
frei
ght
refu
nd*
--
--
--
--
--
--
--
--
-4
Oth
ers
4.5
18.6
27.2
23.1
8.7
7.2
12.9
4.5
1.6
1.5
3.1
-0.
70.
10.
48.
11.
0A
To
tal
32.9
74.6
104.
383
.577
.890
.486
.487
.513
0.6
106.
513
8.7
104.
711
6.4
132.
812
0.8
118.
051
.9P
aym
ents
1M
aint
enam
ce o
f In
dian
em
bass
ies
14.2
16.9
21.3
31.8
26.3
41.7
40.7
44.6
58.0
63.5
117.
284
.212
3.6
135.
318
2.1
212.
120
9.8
and
dipl
omat
ic m
issi
ons
abro
ad2
Con
trib
utio
n to
Ind
us B
asin
--
--
--
--
--
--
--
--
-D
evel
opm
ent
Fun
d**
3O
ther
s7.
613
.211
.418
.118
.126
.047
.12.
51.
20.
11.
2-
0.2
0.5
-0.
11.
2B
To
tal
21.8
30.1
32.7
49.9
44.4
67.7
87.8
47.1
59.2
63.6
118.
484
.212
3.8
135.
818
2.1
212.
221
1.0
Net
(A
-B)
11.1
44.5
71.6
33.6
33.4
22.7
-1.4
40.4
71.4
42.9
20.3
20.5
-7.4
-3.0
-61.
3-9
4.2
-159
.1
Not
es :
*: R
epre
sent
s fr
eigh
t on
PL
480
impo
rts
initi
ally
bor
ne b
y In
dia
but
subs
eque
ntly
ref
unde
d by
the
U.S
. au
thor
ities
.:*
*; T
his
is n
ow s
how
n un
der
offic
ial
tran
sfer
pay
men
ts f
rom
196
4-65
Sou
rces
:R
eser
ve B
ank
of I
ndia
Bul
letin
, M
ay 2
003,
Jan
uary
200
1, A
pril
1999
Mon
ogra
ph o
n In
dia
’s B
alan
ce o
f P
aym
ents
, Ju
ly 1
993
47 Balance of Payments
Ap
pen
dix
2(E
ii):
Go
vern
men
t n
ot
incl
ud
ed e
lsew
her
e A
cco
un
t :
1990
-98
to 2
001-
02
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
1990
-91
1991
-92
1992
-93
1993
-94
1994
-95
1995
-96
A.
Rec
eip
ts
a.M
aint
enan
ce o
f fo
reig
n em
bass
ies
20.5
11.0
39.2
16.0
24.6
8.0
47.2
15.0
23.6
8.0
31.0
9.0
and
dipl
omat
ic m
issi
ons
in I
ndia
.b.
Mai
nten
ance
of
inte
rnat
iona
l an
d6.
84.
02.
81.
019
5.0
64.0
5.0
2.0
0.5
0.0
0.0
0.0
regi
onal
ins
titut
ions
in
Indi
ac.
Oth
ers
0.0
0.0
0.0
0.0
0.0
3.0
42.3
13.0
4.2
2.0
13.0
4.0
TO
TA
L-A
27.3
15.0
42.0
17.0
219.
675
.094
.530
.028
.310
.044
.013
.0
B.
Pay
men
ts
a.M
aint
enan
ce o
f In
dian
em
bass
ies
310.
717
3.0
286.
111
6.0
261.
085
.038
3.3
122.
041
0.9
131.
056
9.8
170.
0an
d di
plom
atic
mis
sion
s ab
road
b.R
emitt
ance
s by
for
eign
em
bass
ies
....
....
....
....
....
....
and
mis
sion
s in
Ind
iac
Oth
ers
0.5
0.0
6.4
3.0
44.2
14.0
97.3
31.0
107.
534
.015
4.3
48.0
TO
TA
L-B
311.
217
3.0
292.
511
9.0
305.
299
.048
0.6
153.
051
8.4
165.
072
4.1
218.
0G
nie
Net
(A
-B)
-283
.9-1
58.0
-250
.5-1
02.0
-85.
6-2
4.0
-386
.1-1
23.0
-490
.1-1
55.0
-680
.1-2
05.0
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
1996
-97
1997
-98
1998
-99
1999
-00P
R20
00-0
120
01-0
2
A.
Rec
eip
ts
a.M
aint
enan
ce o
f fo
reig
n em
bass
ies
75.6
21.0
457.
012
5.0
749.
017
8.0
887.
020
5.0
1016
.085
3.0
222.
017
8.0
and
dipl
omat
ic m
issi
ons
in I
ndia
.b.
Mai
nten
ance
of
inte
rnat
iona
l an
d0.
00.
058
1.0
151.
017
71.0
419.
016
36.0
377.
019
96.0
1382
.043
5.0
291.
0re
gion
al i
nstit
utio
ns i
n In
dia
c.O
ther
s18
1.3
51.0
TO
TA
L-A
256.
972
.010
38.0
276.
025
20.0
597.
025
23.0
582.
030
12.0
2235
.065
7.0
469.
0
B.
Pay
men
ts
a.M
aint
enan
ce o
f In
dian
em
bass
ies
581.
616
3.0
1227
.029
3.0
1023
.023
7.0
1232
.095
6.0
270.
020
1.0
270.
020
1.0
and
dipl
omat
ic m
issi
ons
abro
adb.
Rem
ittan
ces
by f
orei
gn e
mba
ssie
s..
..79
.021
.013
2.0
32.0
144.
033
.032
5.0
337.
071
.071
.0an
d m
issi
ons
in I
ndia
cO
ther
s53
.115
.0
TO
TA
L-B
634.
717
8.0
594.
016
0.0
1359
.032
5.0
1167
.027
0.0
1557
.012
93.0
341.
027
2.0
Gn
ie N
et (
A-B
)-3
77.8
-106
.044
4.0
116.
011
61.0
272.
013
56.0
312.
014
55.0
942.
031
6.0
197.
0
Sou
rces
:R
eser
ve B
ank
of I
ndia
Bul
letin
, M
ay 2
003,
Jan
uary
200
1, A
pril
1999
Mon
ogra
ph o
n In
dia'
s B
alan
ce o
f P
aym
ents
, Ju
ly 1
993
Balance of Payments 48A
pp
end
ix 2
(Fi)
: M
isce
llan
eou
s A
cco
un
t :
Fro
m 1
956-
57 t
o 1
989-
90(R
upee
s, C
rore
)
Item
1956
-57
1957
-58
1958
-59
1959
-60
1960
-61
1961
-62
1962
-63
1963
-64
1964
-65
1965
-66
1966
-67
1967
-68
1968
-69
1969
-70
1970
-71
1971
-72
1972
-73
12
34
56
78
910
1112
1314
1516
17
AR
ecei
pts
1T
echn
icia
ns..
....
....
....
..-
15
1.5
7.3
7.1
7.8
7.7
5.3
2P
rofe
ssio
nal
Ser
vice
s0.
30.
20.
60.
50.
50.
30.
23.
13.
12.
4-
-0.
10.
40.
30.
30.
8 3
Tec
hnic
al k
now
-how
....
....
....
....
--
--
0.1
0.1
-2.4
0.2
0.4
4M
anag
emen
t fe
es,
offic
e ex
pens
es,
11.5
11.3
9.6
9.7
11.8
12.1
12.3
15.1
12.8
13.4
17.2
19.7
15.8
13.5
13.5
15.7
14.3
ag
ency
ser
vice
s, e
tc.
5U
nder
wri
ters
’ co
mm
issi
on..
....
....
....
..-
--
--
--
--
6S
ettle
men
t on
acc
ount
of
post
,..
....
....
....
..0.
90.
71.
52.
23.
22.
31.
61.
61.
5
tele
grap
h, t
elep
hone
and
ra
dio
char
ges
7A
dver
tisem
ent
char
ges
--
--
....
....
0.2
0.1
0.2
0.2
0.3
0.2
0.3
0.1
0.1
8F
orei
gn S
ubsc
ript
ions
to
Indi
an..
....
....
....
..0.
1-
0.1
0.1
0.2
0.1
0.1
0.1
0.1
pe
riod
ical
s, m
agaz
ines
, et
c. 9
Film
ren
tals
....
....
....
....
0.1
-0.
10.
40.
20.
10.
30.
20.
110
Ref
unds
and
reb
ates
on
impo
rts
....
....
....
....
0.5
0.8
0.6
1.0
0.6
0.4
0.2
0.3
0.4
11O
ther
ref
unds
and
reb
ates
....
....
....
....
0.4
0.2
0.4
0.2
1.0
0.6
0.8
0.2
0.3
12R
oyal
ties
....
....
....
....
--
--
0.1
0.1
-0.
10.
213
Ren
tals
....
....
....
....
--
--
--
--
-14
Oil
com
pani
es’
mis
cella
neou
s..
....
....
....
..7.
97.
612
.27.
54.
04.
62.
70.
80.
6
rem
mitt
ance
equ
ival
ents
15P
roce
eds
of r
upee
tra
velle
rs’
cheq
ues
....
....
....
....
--
--
--
--
-
sold
by
non-
resi
dent
ban
ks16
Oth
ers
25.3
25.1
27.0
19.9
24.3
23.1
20.9
14.3
-2.6
-0.4
13.1
10.2
26.5
14.0
6.1
20.7
23.0
AT
ota
l37
.136
.637
.230
.136
.635
.533
.432
.523
.425
.850
.443
.059
.443
.531
.348
.047
.1B
Pay
men
ts 1
Tec
hnic
ians
....
....
....
....
12.6
13.3
16.8
15.1
12.1
11.4
8.4
8.3
8.2
2O
ther
pro
fess
iona
l S
ervi
ces
5.5
4.7
4.4
5.8
5.5
9.6
1312
.71.
92.
12.
62.
82.
53.
02.
23.
92.
7 3
Tec
hnic
al k
now
-how
....
....
....
....
3.6
7.0
10.4
14.7
16.0
12.8
20.6
13.9
11.3
4M
anag
emen
t fe
es,
offic
e ex
pens
es,
9.6
10.5
9.2
10.0
9.1
10.0
9.6
12.7
10.3
12.0
15.8
16.5
16.2
18.2
21.3
26.9
26.0
ag
ency
ser
vice
s, e
tc.
5N
ewsp
aper
cor
resp
onde
nts
....
....
....
....
0.2
0.2
0.3
0.3
0.3
0.3
0.3
0.4
0.3
6U
nder
wri
ters
’ co
mm
issi
on..
....
....
....
..-
--
--
--
0.1
- 7
Rem
ittan
ces
agai
nst
non-
fulfi
lmen
t..
....
....
....
..-
0.1
0.3
0.2
0.1
0.2
-0.
1-
of
con
trac
ts 8
Set
tlem
ent
on a
ccou
nt o
f po
st,
....
....
....
....
0.1
0.2
0.3
0.3
0.2
0.4
0.4
0.4
0.3
te
legr
aph,
tel
epho
ne a
nd
radi
o ch
arge
s 9
Adv
ertis
emen
t ch
arge
s..
....
....
....
..0.
40.
40.
40.
50.
40.
50.
71.
70.
810
Indi
an S
ubsc
ript
ions
to
For
eign
....
....
....
....
1.6
1.8
2.7
3.1
3.5
4.5
4.6
5.3
5.6
pe
riod
ical
s, m
agaz
ines
, et
c.11
Film
ren
tals
....
....
....
....
0.3
0.2
0.3
0.6
0.3
0.3
0.3
0.1
-12
Ref
unds
and
reb
ates
on
expo
rts
....
....
....
....
--
--
-0.
31.
92.
11.
813
Oth
er r
efun
ds a
nd r
ebat
es..
....
....
....
..1.
00.
92.
51.
42.
41.
50.
61.
21.
514
Roy
altie
s1.
20.
91.
31.
82.
52.
43.
64.
64.
42.
95.
14.
34.
85.
85.
25.
97.
315
Ren
tals
....
....
....
....
-0.
30.
10.
10.
2-
--
-16
Oil
com
pani
es’
mis
cella
neou
s..
....
....
....
..9.
27.
21.
77.
46.
46.
68.
22.
30.
4
rem
mitt
able
lia
bilit
ies
(n
ot i
nclu
ded
else
whe
re)
17O
ther
s7.
39.
213
.611
.117
.516
.718
16.5
0.2
0.8
2.3
-1.
81.
23.
86.
416
.0B
To
tal
23.6
25.3
28.5
28.7
34.6
38.7
44.2
46.5
45.8
49.4
61.6
67.3
67.2
6778
.579
.082
.2N
et (
A-B
)13
.511
.38.
71.
42.
0-3
.2-1
0.8
-14.
0-2
2.4
-23.
6-1
1.2
-24.
3-7
.8-2
3.5
-47.
2-3
1.0
-35.
1
(Con
td)
49 Balance of Payments
Ap
pen
dix
2(F
i):
Mis
cella
neo
us
Acc
ou
nt
: F
rom
195
6-57
to
198
9-90
(C
oncl
uded
)(R
upee
s, C
rore
)
Item
1973
-74
1974
-75
1975
-76
1976
-77
1977
-78
1978
-79
1979
-80
1980
-81
1981
-82
1982
-83
1983
-84
1984
-85
1985
-86
1986
-87
1987
-88
1988
-89
1989
-90
1819
2021
2223
2425
2627
2829
3031
3233
34
AR
ecei
pts
1T
echn
icia
ns2.
70.
20.
70.
90.
50.
50.
71.
22.
11.
92.
33.
24.
12.
75.
013
.369
.0 2
Pro
fess
iona
l S
ervi
ces
0.5
1.1
1.3
3.1
4.6
3.3
7.2
5.1
6.7
8.4
7.0
8.9
10.2
6.6
12.4
20.2
44.2
3T
echn
ical
kno
w-h
ow0.
10.
50.
50.
91.
16.
11.
93.
15.
88.
16.
03.
68.
312
.86.
38.
48.
7 4
Man
agem
ent
fees
, of
fice
expe
nses
,18
.921
.125
.225
.830
.258
.873
.774
.590
.819
8.6
153.
623
2.4
172.
821
4.3
347.
851
6.1
817.
3
agen
cy s
ervi
ces,
etc
. 5
Und
erw
rite
rs’
com
mis
sion
--
-0.
10.
40.
10.
30.
7-
-0.
10.
20.
1-
-0.
3-
6S
ettle
men
t on
acc
ount
of
post
,0.
51.
42.
52.
81.
20.
92
1.4
1.9
5.7
7.2
4.3
0.5
0.7
3.1
50.1
16.2
te
legr
aph,
tel
epho
ne a
nd
radi
o ch
arge
s 7
Adv
ertis
emen
t ch
arge
s0.
20.
20.
10.
10.
20.
10.
10.
80.
11.
21
0.9
0.2
0.5
2.4
6.7
13.7
8F
orei
gn S
ubsc
ript
ions
to
Indi
an0.
20.
10.
30.
30.
80.
60.
41.
00.
30.
40.
21.
61.
62.
36.
211
.124
.9
peri
odic
als,
mag
azin
es,
etc.
9F
ilm r
enta
ls-
-0.
1-
0.3
-0.
20.
20.
20.
21.
40.
20.
11.
30.
10.
40.
510
Ref
unds
and
reb
ates
on
impo
rts
0.3
0.2
0.7
0.5
0.6
1.1
1.7
0.8
2.9
9.3
6.3
1.2
1.1
4.7
3.5
3.3
6.4
11O
ther
ref
unds
and
reb
ates
0.3
0.5
0.3
0.9
1.8
0.8
0.9
1.0
1.8
1.7
1.8
1.1
2.5
1.3
5.2
10.7
11.7
12R
oyal
ties
0.1
0.1
0.2
0.1
0.2
0.1
0.1
0.1
0.2
10.0
0.5
0.1
0.3
0.6
1.4
1.2
2.5
13R
enta
ls-
--
-0.
1-
-0.
1-
--
-0.
10.
10.
20.
41.
314
Oil
com
pani
es’
mis
cella
neou
s0.
30.
40.
10.
1-
--
--
--
--
--
--
re
mm
ittan
ce e
quiv
alen
ts15
Pro
ceed
s of
rup
ee t
rave
llers
’ ch
eque
s-
--
0.1
0.3
0.4
0.1
0.7
0.5
0.3
1.4
0.4
1.1
0.8
1.3
22.
3
sold
by
non-
resi
dent
ban
ks16
Oth
ers
24.4
56.9
119.
415
1.5
233.
130
4.5
439.
765
9.9
704.
384
0.3
1426
.421
03.7
1859
.713
54.1
1272
.614
73.5
1905
.0A
To
tal
48.5
82.7
151.
418
7.2
275.
437
7.3
529.
075
0.6
817.
610
77.0
1615
.023
62.0
2063
.016
03.0
103.
016
0.0
175.
3 2
Oth
er p
rofe
ssio
nal
Ser
vice
s2.
83.
44.
113
.237
.68.
011
.311
.913
.942
.045
.382
.669
.510
5.7
282.
023
0.4
169.
2 3
Tec
hnic
al k
now
-how
14.1
12.5
25.7
37.8
28.1
55.5
44.0
98.0
270.
725
8.6
314.
930
0.6
367.
835
8.4
459.
331
6.7
458.
8 4
Man
agem
ent
fees
, of
fice
expe
nses
,28
.933
.150
.973
.180
.096
.218
5.5
146.
626
1.0
210.
623
3.5
294.
633
1.7
447.
947
0.2
714.
390
2.6
ag
ency
ser
vice
s, e
tc.
5N
ewsp
aper
cor
resp
onde
nts
0.2
0.1
0.2
0.2
0.1
0.1
0.2
0.1
0.4
0.5
0.3
0.8
1.4
0.6
0.7
0.9
1.1
6U
nder
wri
ters
’ co
mm
issi
on-
-0.
1-
-0.
1-
0.1
-0.
10.
10.
20.
2-
0.3
-3.
9 7
Rem
ittan
ces
agai
nst
non-
fulfi
lmen
t0.
20.
20.
20.
20.
30.
10.
20.
21.
80.
58.
92.
20.
91.
62.
84.
16.
5
of c
ontr
acts
8S
ettle
men
t on
acc
ount
of
post
,0.
50.
20.
31.
50.
51.
80.
81.
32.
814
.77.
37.
23.
914
.562
.240
.59.
2
tele
grap
h, t
elep
hone
and
ra
dio
char
ges
9A
dver
tisem
ent
char
ges
1.8
2.6
1.3
0.8
2.9
2.5
2.0
3.2
2.6
5.0
10.1
3.9
10.0
51.8
7.0
15.0
10.7
10In
dian
Sub
scri
ptio
ns t
o F
orei
gn7.
06.
011
.213
.913
.519
.126
.828
.932
.048
.040
.810
2.1
83.3
131.
799
.711
4.7
134.
4
peri
odic
als,
mag
azin
es,
etc.
11F
ilm r
enta
ls0.
30.
2-
0.6
0.3
0.4
0.2
0.6
0.1
-0.
20.
10.
1-
0.2
0.3
0.5
12R
efun
ds a
nd r
ebat
es o
n ex
port
s2.
92.
24.
515
.013
.78.
18.
56.
03.
89.
37.
56.
710
.523
.823
.320
.137
.113
Oth
er r
efun
ds a
nd r
ebat
es0.
91.
01.
93.
118
.83.
826
.76.
14.
010
.312
.916
.269
.913
.911
.228
.527
.214
Roy
altie
s6.
28.
510
.515
.919
.512
.79.
68.
916
.039
.727
.628
.523
.540
.160
.418
0.6
197.
415
Ren
tals
0.4
0.7
0.5
1.2
0.5
0.7
0.2
0.2
0.1
0.5
1.5
1.3
1.5
1.3
9.7
3.7
4.7
16O
il co
mpa
nies
’ m
isce
llane
ous
1.8
-0.
71.
4-
--
--
--
--
--
--
re
mm
ittab
le l
iabi
litie
s
(not
inc
lude
d el
sew
here
)17
Oth
ers
12.5
21.9
52.0
64.1
32.3
71.2
237.
032
8.2
166.
112
8.4
372.
842
1.2
147.
622
0.8
428.
545
7.3
848.
9B
To
tal
90.6
100.
017
1.2
252.
325
8.3
325.
756
2.1
662.
978
8.4
798.
311
10.0
1298
.011
64.0
1485
.020
21.0
2287
.029
88.0
Net
(A
-B)
-42.
1-1
7.3
-19.
8-6
5.1
17.1
51.6
-33.
187
.729
.227
8.8
505.
410
64.0
898.
911
7.7
-353
.0-1
69.0
-63.
8
Sou
rces
: R
eser
ve B
ank
of I
ndia
Bul
letin
, M
ay 2
003,
Jan
uary
200
1, A
pril
1999
Mon
ogra
ph o
n In
dia'
s B
alan
ce o
f P
aym
ents
, Ju
ly 1
993
Balance of Payments 50
Ap
pen
dix
2(F
ii):
Mis
cella
neo
us
Acc
ou
nt
: 19
90-9
1 to
200
1-02
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
1990
-91
1991
-92
1992
-93
1993
-94
1994
-95
1995
-96
A.
Rec
eip
ts
Com
mun
icat
ion
serv
ices
....
....
....
....
....
....
Con
stru
ctio
n S
evic
es..
....
....
....
....
....
..
Fin
anci
al s
ervi
ces
....
....
....
....
....
....
Sof
twar
e se
rvic
es..
....
....
..10
2032
511
85.4
489
2520
747
New
s ag
ency
ser
vice
s..
....
....
....
....
....
..
Roy
altie
s, c
opyr
ight
and
lic
ense
fee
s..
....
....
....
....
....
..
Man
agem
ent
serv
ices
1009
.956
312
53.5
512
1124
.838
613
92.8
444
1910
.760
918
66.5
554
Oth
er s
ervi
ces
(Adv
ertis
ing,
ren
tals
,..
....
....
....
....
....
..
offic
e m
aint
enan
ce,
priz
es,
exhi
bitio
ns &
oth
er s
ervi
ces
not
enum
erat
ed e
lsew
here
)
TO
TA
L-A
1009
.956
312
53.5
512
1124
.838
624
12.8
769
3096
.110
9843
86.5
1301
B.
Pay
men
ts
Com
mun
icat
ion
serv
ices
....
....
....
....
....
....
Con
stru
ctio
n se
rvic
es..
....
....
....
....
....
..
Fin
anci
al s
ervi
ces
....
....
....
....
....
....
Sof
twar
e se
rvic
es..
....
....
....
....
....
..
New
s ag
ency
ser
vice
s..
....
....
....
....
....
..
Roy
altie
s, c
opyr
ight
and
lic
ense
fee
s..
....
....
....
....
....
..
Man
agem
ent
serv
ices
1197
.166
722
46.7
946
2279
.874
420
46.7
653
3130
.399
766
55.5
1961
Oth
er s
ervi
ces
(Adv
ertis
ing,
....
....
....
....
....
....
re
ntal
s, o
ffic
e m
aint
enan
ce,
priz
es,
ex
hibi
tions
& o
ther
ser
vice
s
no
t en
umer
ated
els
ewhe
re)
TO
TA
L-B
1197
.166
722
46.7
946
2279
.874
420
46.7
653
3130
.399
766
55.5
1961
C.
Mis
cella
neo
us
Net
(A
-B)
-187
.2-1
04-9
93.2
-434
-115
5-3
5836
6.1
116
-34.
210
1-2
269
-660
(Con
td)
51 Balance of Payments
Ap
pen
dix
2(F
ii):
Mis
cella
neo
us
Acc
ou
nt
: 19
90-9
1 to
200
1-02
(C
oncl
uded
)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
1996
-97
1997
-98
1998
-99
1999
-00
2000
-01
2001
-02
A.
Rec
eip
ts
Com
mun
icat
ion
serv
ices
....
624
171
2552
601
4601
1064
5949
1288
4377
921
Con
stru
ctio
n S
evic
es..
..37
010
163
415
016
9138
930
8167
180
316
7
Fin
anci
al s
ervi
ces
....
1112
296
1190
283
1569
361
3193
696
3719
780
Sof
twar
e se
rvic
es39
0010
9965
7017
6011
064
2626
1741
240
1629
014
6341
3421
671
75
New
s ag
ency
ser
vice
s..
..58
615
611
0626
214
8534
251
111
435
7
Roy
altie
s, c
opyr
ight
and
lic
ense
fee
s..
..80
2173
1823
754
280
6240
084
Man
agem
ent
serv
ices
1394
.339
320
4454
924
7759
027
9064
344
7197
045
4695
1
Oth
er s
ervi
ces
(Adv
ertis
ing,
ren
tals
,..
..41
0311
0912
254
2917
1425
932
8412
671
2733
2183
945
86
offic
e m
aint
enan
ce,
priz
es,
exhi
bitio
ns &
oth
er s
ervi
ces
not
enum
erat
ed e
lsew
here
)
TO
TA
L-A
5294
.314
9215
489
4163
3135
074
4744
044
1015
359
170
1287
569
935
1467
1
B.
Pay
men
ts
Com
mun
icat
ion
serv
ices
....
323
8743
510
382
619
011
3824
727
1957
1
Con
stru
ctio
n se
rvic
es..
..23
965
414
9822
051
996
216
2462
517
Fin
anci
al s
ervi
ces
....
2402
647
2885
687
5785
1632
9221
2003
1111
723
35
Sof
twar
e se
rvic
es..
..82
922
314
6134
816
0013
827
0659
032
0267
2
New
s ag
ency
ser
vice
s..
..53
014
243
110
469
390
1378
299
1509
317
Roy
altie
s, c
opyr
ight
and
lic
ense
fee
s..
..61
816
610
5525
013
5131
123
6751
426
7156
1
Man
agem
ent
serv
ices
4074
.211
5131
3284
128
0266
334
5679
563
7613
8583
4117
52
Oth
er s
ervi
ces
(Adv
ertis
ing,
....
6120
1637
1650
639
0815
126
3497
2131
446
3119
861
4172
re
ntal
s, o
ffic
e m
aint
enan
ce,
priz
es,
ex
hibi
tions
& o
ther
ser
vice
s
no
t en
umer
ated
els
ewhe
re)
TO
TA
L-B
4074
.211
5114
193
3808
2598
961
6129
057
6704
4549
698
8551
882
1089
7
C.
Mis
cella
neo
us
Net
(A
-B)
1220
.134
112
9635
553
6112
8614
987
3449
1367
429
9018
053
3774
PR
: P
artia
lly r
evis
ed.
Sou
rces
: R
eser
ve B
ank
of I
ndia
Bul
letin
, M
ay 2
003,
Jan
uary
200
1, A
pril
1999
Mon
ogra
ph o
n In
dia'
s B
alan
ce o
f P
aym
ents
, Ju
ly 1
993
Balance of Payments 52
Ap
pen
dix
2(G
i):
Off
icia
l T
ran
sfer
Pay
men
ts A
cco
un
t :
1956
-57
to 1
989-
90(R
upee
s, C
rore
)
1956
-57
1957
-58
1958
-59
1959
-60
1960
-61
1961
-62
1962
-63
1963
-64
1964
-65
1965
-66
1966
-67
1967
-68
1968
-69
1969
-70
1970
-71
1971
-72
1972
-73
Item
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
(12)
(13)
(14)
(15)
(16)
(17)
Rec
eip
ts
1G
rant
s fr
om v
ario
us c
ount
ries
36.7
32.8
35.5
37.5
33.2
30.3
22.7
19.3
15.3
26.9
87.6
40.0
57.8
20.4
49.7
52.7
11.7
2P
L 48
0 T
itle
I-
--
0.3
11.8
*13
.354
.462
.812
2.0
60.2
0.2
-10
.941
.217
.940
.844
.4
3P
L 48
0 T
itle
II-
--
--
--
-14
.016
.537
.048
.150
.749
.455
.862
.761
.1
4O
ther
s0.
30.
10.
10.
20.
22.
30.
11.
30.
80.
2-
0.2
3.8
4.1
4.6
2.0
1.2
AT
ota
l37
.032
.935
.638
.045
.245
.977
.283
.415
2.1
103.
812
4.8
88.3
123.
211
5.1
128.
015
8.2
118.
4
Pay
men
ts
1P
ensi
on o
n go
vern
men
t ac
coun
t-
--
--
--
-0.
30.
40.
40.
60.
40.
30.
50.
50.
6
in
Ind
ia
2G
over
nmen
t co
ntri
butio
n to
--
--
--
--
1.7
2.8
3.8
4.4
4.6
3.0
4.5
3.1
4.6
in
tern
atio
nal
agen
cies
3D
onat
ions
and
tec
hnic
al a
ssis
tanc
e-
--
--
--
--
--
0.1
-0.
11.
412
.00.
1
ex
tend
ed b
y G
over
nmen
t of
Ind
ia
4C
ontr
ibut
ion
to I
ndus
Bas
in-
--
--
--
-8.
38.
313
.013
.011
.211
.3-
-
D
evel
opm
ent
Fun
d
5C
omm
odity
agr
eem
ent
with
Gul
f st
ates
--
--
--
--
--
--
-2.
2-
0.6
0.2
6E
xpor
ts o
n gi
ft b
asis
--
--
--
--
--
--
--
--
4.5
7G
over
nmen
t exp
orts
-gra
nts
--
--
--
--
--
--
--
0.1
--
8G
rant
s to
Ban
glad
esh
--
--
--
--
--
--
--
-23
.599
.5
9G
rant
s to
IT
EC
pro
gram
me
--
--
--
--
--
--
--
--
-
10C
ontr
ibut
ion
to W
orld
Hea
lth-
--
--
--
--
--
--
--
2.2
0.5
O
rgan
isat
ion
11O
ther
s-
--
--
--
--
--
--
--
--
BT
ota
l-
--
--
--
-10
.311
.517
.218
.116
.216
.96.
541
.911
0.0
Net
(A
-B)
37.0
32.9
35.6
38.0
33.4
45.9
77.2
83.4
141.
892
.310
7.6
70.2
107.
098
.212
1.5
116.
38.
4
(Con
td)
53 Balance of Payments
Ap
pen
dix
2(G
i):
Off
icia
l T
ran
sfer
Pay
men
ts A
cco
un
t :
1956
-57
to 1
989-
90 (
Con
clud
ed)
(Rup
ees,
Cro
re)
1973
-74
1974
-75
1975
-76
1976
-77
1977
-78
1978
-79
1979
-80
1980
-81
1981
-82
1982
-83
1983
-84
1984
-85
1985
-86
1986
-87
1987
-88
1988
-89
1989
-90
Item
(18)
(19)
(20)
(21)
(22)
(23)
(24)
(25)
(26)
(27)
(28)
(29)
(30)
(31)
(32)
(33)
(34)
Rec
eip
ts
1G
rant
s fr
om v
ario
us c
ount
ries
15.2
71.4
317.
625
9.2
268.
639
7.3
306.
234
8.2
291.
127
5.1
242.
940
5.6
319.
436
9.9
391.
951
8.2
749.
9
2P
L 48
0 T
itle
I16
88.4
@16
.4-
--
--
--
--
--
--
--
3P
L 48
0 T
itle
II60
.859
.711
7.6
121.
911
2.0
115.
515
9.8
119.
315
4.3
110.
013
6.9
134.
311
9.9
119.
211
6.9
171.
012
7.9
4O
ther
s2.
60.
550
.312
.713
.723
.641
.412
8.0
5.3
1.2
19.5
38.2
0.6
40.9
26.9
43.7
24.2
AT
ota
l17
67.0
148.
048
5.5
393.
839
4.3
536.
450
7.4
595.
545
0.7
386.
339
9.3
578.
143
9.9
530.
053
5.7
732.
990
2.0
Pay
men
ts
1P
ensi
on o
n go
vern
men
t ac
coun
t0.
51.
10.
80.
50.
50.
60.
40.
20.
50.
30.
10.
10.
30.
20.
20.
30.
2
in
Ind
ia
2G
over
nmen
t co
ntri
butio
n to
4.8
6.8
3.0
6.3
3.2
0.9
3.5
-1.
65.
87.
13.
612
.14.
43.
18.
45.
0
in
tern
atio
nal
agen
cies
3D
onat
ions
and
tec
hnic
al a
ssis
tanc
e-
--
--
0.1
--
-0.
1-
0.1
0.2
0.1
--
-
ex
tend
ed b
y G
over
nmen
t of
Ind
ia
4C
ontr
ibut
ion
to I
ndus
Bas
in-
--
--
--
--
--
--
--
--
D
evel
opm
ent
Fun
d
5C
omm
odity
agr
eem
ent
with
Gul
f st
ates
0.2
0.1
--
--
--
--
--
--
--
-
6E
xpor
ts o
n gi
ft b
asis
3.0
1.0
-0.
10.
10.
14.
80.
30.
50.
30.
1-
--
--
-
7G
over
nmen
t exp
orts
-gra
nts
--
--
--
--
--
--
--
--
-
8G
rant
s to
Ban
glad
esh
2.7
1.2
1.1
1.0
1.4
0.2
0.1
0.2
--
--
--
--
-
9G
rant
s to
IT
EC
pro
gram
me
--
2.8
2.9
6.7
3.0
4.1
3.0
--
--
--
--
-
10C
ontr
ibut
ion
to W
orld
Hea
lth-
--
--
--
--
--
--
--
--
O
rgan
isat
ion
11O
ther
s5.
8-
0.1
--
--
--
--
--
--
--
BT
ota
l17
.010
.27.
810
.811
.94.
912
.93.
72.
66.
57.
33.
812
.64.
73.
38.
75.
2
Net
(A
-B)
1750
.013
7.8
477.
738
3.0
382.
453
1.5
494.
559
1.8
448.
137
9.8
392.
057
4.3
427.
352
5.3
532.
472
4.2
896.
8
Not
es:
*: I
nclu
de R
s 8.
4 cr
ore
earm
arke
d by
the
U.S
. au
thor
ities
to
finan
ce e
xpor
t of
goo
ds a
nd s
ervi
ces
to N
epal
und
er t
heir
eco
nom
ic a
id p
rogr
amm
e to
tha
t co
untr
y.:@
: R
ecei
pts
for
the
year
197
3-74
inc
lude
Rs
1664
cro
re a
s of
ficia
l gr
ant
rece
ipts
und
er t
he a
gree
men
t da
ted
Feb
ruar
y 18
, 19
74 b
etw
een
the
gove
rnm
ent
of I
ndia
and
US
A.
Sou
rces
: R
eser
ve B
ank
of I
ndia
Bul
letin
, M
ay 2
003,
Jan
uary
200
1, A
pril
1999
Mon
ogra
ph o
n In
dia'
s B
alan
ce o
f P
aym
ents
, Ju
ly 1
993
Balance of Payments 54
Ap
pen
dix
2(G
ii):
Off
icia
l T
ran
sfer
s A
cco
un
t :
1990
-91
to 2
001-
02
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
1990
-91
1991
-92
1992
-93
1993
-94
1994
-95
1995
-96
AR
ecei
pts
Don
atio
ns r
ecei
ved
from
Non
- re
side
nts
178.
810
020
1.5
8130
6.6
106
0.8
031
5.4
100
223.
566
Gra
nt u
nder
PL
480
II11
.87
5.3
20.
60
291.
393
4.6
114
.14
Gra
nts
from
oth
er G
over
nmen
ts63
8.7
356
934.
737
874
7.8
258
878.
228
010
02.9
319
956.
128
1
TO
TA
L-A
829.
346
311
41.5
461
1055
364
1170
.337
313
22.9
420
1193
.735
1
BP
aym
ents
Gra
nts/
dona
tions
fro
m o
ffic
ial
sect
or1.
71
1.4
12.
21
14.9
513
.35
205
TO
TA
L-B
1.8
11.
51
2.3
115
513
.95
216
Off
icia
l T
ran
sfer
s N
et (
A-B
)82
7.5
462
1140
460
1052
.736
311
55.3
368
1309
415
1172
.734
5
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
1996
-97
1997
-98
1998
-99
1999
-00
2000
-01
2001
-02
AR
ecei
pts
Don
atio
ns r
ecei
ved
from
Non
- re
side
nts
42.3
126
20
017
440
489
107
296
Gra
nt u
nder
PL
480
II0
038
610
540
094
414
9643
995
279
58G
rant
s fr
om o
ther
Gov
ernm
ents
1465
.141
110
2627
290
521
410
7124
662
813
615
4332
1
TO
TA
L-A
1507
.442
314
1837
913
0530
816
5938
215
5633
818
5138
5
BP
aym
ents
Gra
nts/
dona
tions
fro
m o
ffic
ial
sect
or50
130
05
12
010
24
1
TO
TA
L-B
50.3
130
05
12
010
24
1
Off
icia
l T
ran
sfer
s N
et (
A-B
)14
57.1
410
1418
379
1300
307
1657
382
1546
336
1847
384
Sou
rces
: R
eser
ve B
ank
of I
ndia
Bul
letin
, M
ay 2
003,
Jan
uary
200
1, A
pril
1999
Mon
ogra
ph o
n In
dia'
s B
alan
ce o
f P
aym
ents
, Ju
ly 1
993
55 Balance of Payments
Ap
pen
dix
2(H
i):
Pri
vate
Tra
nsf
er P
aym
ents
Acc
ou
nt
: 19
56-5
7 to
198
9-90
(Rup
ees,
Cro
re)
1956
-57
1957
-58
1958
-59
1959
-60
1960
-61
1961
-62
1962
-63
1963
-64
1964
-65
1965
-66
1966
-67
1967
-68
1968
-69
1969
-70
1970
-71
1971
-72
1972
-73
Item
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
(12)
(13)
(14)
(15)
(16)
(17)
Rec
eip
ts*
1R
ecei
pts
for
fam
ily m
aint
enan
ce..
....
....
....
..3.
31.
82.
14.
55.
04.
44.
43.
93.
02
Per
sona
l gi
fts
and
dona
tions
to
21.4
21.5
20.7
20.5
19.0
19.6
31.1
35.7
26.5
11.4
21.5
52.6
62.7
68.3
72.6
90.1
75.3
relig
ious
org
ains
atio
ns a
ndch
arita
blei
nstit
utio
ns i
n In
dia
3M
igra
nts’
tra
nsfe
rs b
y In
dian
6.8
6.1
5.9
6.1
5.0
3.5
3.7
4.6
1.6
0.8
0.7
2.2
3.0
3.2
4.5
3.1
3.7
natio
nals
4M
igra
nts’
tra
nsfe
rs b
y fo
reig
n..
....
....
....
..-
-0.
10.
2-
0.3
0.3
0.3
0.2
natio
nals
5T
rans
fers
of
lega
cies
and
....
....
....
....
0.2
0.4
0.5
0.2
0.3
0.4
0.3
0.3
0.4
asse
ts i
n tr
ust
6R
epat
riat
ion
of s
avin
gs b
y..
....
....
....
..2.
71.
22.
36.
310
.010
.68.
69.
718
.0In
dian
s re
side
nt a
broa
d7
Rem
ittan
ces
of p
rofe
ssio
nal
....
....
....
....
0.2
0.1
-0.
2-
0.3
0.3
--
inco
me-
tax
and
inco
me-
tax
refu
nds
8R
ecei
pts
of p
rovi
dent
fun
d..
....
....
....
..0.
20.
30.
30.
40.
70.
70.
90.
60.
9an
d ot
her
retir
emen
t be
nefit
fund
s fr
om a
broa
d9
Rei
mbu
rsem
ent
of m
oney
33.2
33.2
28.1
24.9
20.7
13.9
....
7.5
4.6
5.9
5.2
9.9
9.4
8.8
8.3
9.1
orde
r dr
awin
gs10
Oth
ers
2.2
1.4
3.2
4.6
0.2
4.2
5.3
7.1
--
--
--
--
-
AT
ota
l63
.662
.257
.956
.144
.941
.240
.147
.442
.278
.4*
73.2
*71
.891
.697
.610
0.7
116.
311
0.6
Pay
men
ts1
Fam
ily m
aint
enan
ce..
....
....
....
..5.
45.
36.
56.
34.
84.
43.
22.
82.
72
Per
sona
l gi
fts
and
dona
tions
to
....
....
....
....
0.3
-0.
10.
10.
10.
30.
10.
21.
2re
ligio
us o
rgan
isat
ion
and
char
itabl
e in
stitu
tions
abr
oad
3M
igra
nts’
tra
nsfe
rs b
y In
dian
....
....
....
....
1.1
1.0
1.3
1.3
1.0
1.0
1.1
1.0
0.5
natio
nals
4M
igra
nts’
tra
nsfe
rs b
y fo
reig
n..
....
....
....
..5.
85.
67.
46.
66.
24.
65.
14.
23.
6na
tiona
ls5
Tra
nsfe
rs o
f le
gaci
es a
nd a
sset
s..
....
....
....
..0.
50.
60.
50.
50.
60.
60.
60.
50.
5in
tru
st6
Rem
ittan
ces
of s
avin
gs b
y fo
reig
n..
....
....
....
..2.
11.
82.
82.
11.
61.
41.
21.
11.
0na
tiona
ls7
Per
sona
l in
com
e-ta
x an
d..
....
....
....
..-
--
--
--
0.8
0.4
inco
me-
tax
refu
nds
8T
rans
fers
of
prov
iden
t fu
nd a
nd..
....
....
....
..0.
60.
50.
50.
70.
70.
50.
50.
20.
2ot
her
retir
emen
t be
nefit
fun
ds9
Pen
sion
s..
....
....
....
..0.
71.
01.
11.
31.
41.
31.
31.
31.
210
Rei
mbu
rsem
ent
of m
oney
....
....
....
....
0.1
--
--
--
--
orde
r dr
awin
gs11
Lott
ery
ticke
ts a
nd p
rize
s..
....
....
....
..-
--
--
--
--
BT
ota
l15
.816
.516
.716
.116
.816
.214
.013
.316
.615
.820
.218
.916
.414
.113
.112
.111
.3N
et (
A-B
)47
.845
.741
.240
.028
.125
.026
.134
.125
.662
.653
.052
.975
.283
.587
.610
4.2
99.3
(Con
td)
Balance of Payments 56A
pp
end
ix 2
(Hi)
: P
riva
te T
ran
sfer
Pay
men
ts A
cco
un
t :
1956
-57
to 1
989-
90 (
Con
clud
ed)
(Rup
ees,
Cro
re)
1973
-74
1974
-75
1975
-76
1976
-77
1977
-78
1978
-79
1979
-80
1980
-81
1981
-82
1982
-83
1983
-84
1984
-85
1985
-86
1986
-87
1987
-88
1988
-89
1989
-90
Item
(18)
(19)
(20)
(21)
(22)
(23)
(24)
(25)
(26)
(27)
(28)
(29)
(30)
(31)
(32)
(33)
(34)
Rec
eip
ts*
1R
ecei
pts
for
fam
ily m
aint
enan
ce5.
710
.548
.581
.712
0.5
133.
120
6.1
241.
632
6.9
339.
833
8.9
371.
040
3.6
500.
383
5.4
777.
611
99.1
2P
erso
nal
gift
s an
d do
natio
ns t
o99
.415
2.3
201.
131
5.5
453.
435
8.3
573.
858
7.5
495.
553
1.1
532.
461
0.3
506.
245
1.4
566.
255
1.2
673.
6re
ligio
us o
rgai
nsat
ions
and
char
itabl
eins
titut
ions
in
Indi
a 3
Mig
rant
s’ t
rans
fers
by
Indi
an5.
46.
24.
66.
49.
01.
21.
759
.94.
33.
82.
72.
62.
12.
22.
52.
00.
6na
tiona
ls 4
Mig
rant
s’ t
rans
fers
by
fore
ign
0.4
0.4
0.4
0.6
1.0
0.1
0.1
-0.
40.
310
.28.
26.
10.
5-
0.4
-na
tiona
ls 5
Tra
nsfe
rs o
f le
gaci
es a
nd0.
50.
7-
0.4
0.1
-1.
06.
40.
40.
70.
80.
70.
50.
20.
50.
4-
asse
ts i
n tr
ust
6R
epat
riat
ion
of s
avin
gs b
y30
.140
.813
7.6
268.
938
6.4
573.
690
8.6
1239
.312
51.8
1551
.417
58.7
1983
.217
90.5
2027
.921
17.8
1878
.919
32.8
Indi
ans
resi
dent
abr
oad
7R
emitt
ance
s of
pro
fess
iona
l0.
20.
1-
0.1
0.1
1.0
1.6
-0.
41.
11.
61.
82.
82.
92.
81.
61.
4in
com
e-ta
x an
d in
com
e-ta
x re
fund
s 8
Rec
eipt
s of
pro
vide
nt f
und
1.1
2.4
4.5
8.8
15.5
2.3
3.7
2.0
2.4
2.4
3.0
4.1
3.7
5.2
7.2
8.3
16.1
and
othe
r re
tirem
ent
bene
fitfu
nds
from
abr
oad
9R
eim
burs
emen
t of
mon
ey15
.422
.057
.179
.712
2.4
39.9
65.5
-0.
70.
4-
--
-0.
30.
80.
3or
der
draw
ings
10O
ther
s-
--
--
--
--
--
--
--
644.
2@-
AT
ota
l15
8.2
235.
445
3.8
762.
111
08.4
1109
.517
62.1
2136
.720
82.8
2431
.026
48.3
2981
.927
15.5
2990
.635
32.7
3865
.438
23.9
Pay
men
ts 1
Fam
ily m
aint
enan
ce2.
01.
51.
71.
10.
80.
70.
92.
01.
42.
01.
33.
75.
34.
73.
74.
08.
1 2
Per
sona
l gi
fts
and
dona
tions
to
1.2
0.1
0.2
0.1
0.1
0.1
0.2
0.2
0.2
0.2
0.5
0.6
1.0
0.9
0.9
0.7
0.6
relig
ious
org
anis
atio
n an
dch
arita
ble
inst
itutio
ns a
broa
d 3
Mig
rant
s’ t
rans
fers
by
Indi
an1.
60.
20.
70.
20.
30.
30.
30.
61.
50.
50.
80.
90.
50.
50.
50.
40.
6na
tiona
ls 4
Mig
rant
s’ t
rans
fers
by
fore
ign
3.1
2.1
2.9
2.2
1.4
9.3
2.0
0.8
0.8
1.5
1.9
1.5
1.5
2.8
3.1
5.1
4.2
natio
nals
5T
rans
fers
of
lega
cies
and
ass
ets
0.4
0.3
0.4
0.4
0.6
1.1
0.5
0.8
0.3
0.3
0.3
0.6
0.3
0.6
0.4
0.4
0.7
in t
rust
6R
emitt
ance
s of
sav
ings
by
fore
ign
1.3
0.6
1.5
0.9
0.8
3.1
1.2
1.4
1.7
0.5
0.6
2.5
1.8
2.8
22.5
6.2
4.4
natio
nals
7P
erso
nal
inco
me-
tax
and
0.6
0.3
4.3
0.7
0.5
0.6
0.8
1.2
0.5
2.2
1.5
0.4
1.3
0.7
0.5
2.0
2.8
inco
me-
tax
refu
nds
8T
rans
fers
of
prov
iden
t fu
nd a
nd0.
20.
20.
2-
0.8
0.2
--
0.6
--
3.8
-0.
10.
71.
1-
othe
r re
tirem
ent
bene
fit f
unds
9P
ensi
ons
1.2
1.0
1.4
1.3
1.2
1.3
1.8
1.4
1.6
1.2
3.7
1.2
3.1
1.7
2.0
3.9
4.6
10R
eim
burs
emen
t of
mon
ey0.
4-
--
--
-3.
27.
95.
6-
--
--
--
orde
r dr
awin
gs11
Lott
ery
ticke
ts a
nd p
rize
s-
--
--
--
--
0.1
--
--
--
0.2
BT
ota
l12
.06.
313
.36.
96.
516
.77.
711
.616
.514
.110
.615
.214
.814
.834
.323
.826
.2N
et (
A-B
)14
6.2
229.
144
0.5
755.
211
01.9
1092
.817
54.4
2125
.120
66.3
2416
.926
37.7
2966
.727
00.7
2975
.834
98.4
3841
.637
97.7
Not
es:*
:E
xclu
sive
of
PL
480
Titl
e gr
ants
whi
ch a
re s
how
n se
para
tely
in
the
tabl
e on
Off
icia
l T
rans
fer
Pay
men
ts.
:@:T
he f
igur
e of
Rs
644.
2 cr
ore
repo
rted
in
1988
-89
agai
nst
Oth
ers
is t
he c
ompe
nsat
ion
for
Bho
pal
Gas
tra
gedy
rec
eive
d fr
om U
nion
Car
bide
Cor
pora
tion
($ 4
25 m
illio
n in
US
$)
and
Uni
on C
arbi
de (
Indi
a) L
imite
d ($
45 m
illio
n in
Ind
ian
rupe
es)
depo
site
d w
ith R
BI
on M
arch
14,
198
9.S
ourc
es:
Res
erve
Ban
k of
Ind
ia B
ulle
tin,
May
200
3, J
anua
ry 2
001,
Apr
il 19
99M
onog
raph
on
Indi
a's
Bal
ance
of
Pay
men
ts,
July
199
3
57 Balance of Payments
Ap
pen
dix
2(H
ii):
Pri
vate
Tra
nsf
ers
: 19
90-9
1 to
200
1-02
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
1990
-91
1991
-92
1992
-93
1993
-94
1994
-95
1995
-96
Item
s(1
)(2
)(3
)(4
)(5
)(6
)(7
)(8
)(9
)(1
0)(1
1)(1
2)
A.
RE
CE
IPT
SIn
war
d re
mitt
ance
fro
m I
ndia
n w
orke
rs11
22.8
626
1743
.570
221
27.9
730
1611
.851
454
2117
2733
87.1
1003
ab
road
for
fam
ily m
aint
enan
ceLo
cal
with
draw
als
/ re
dem
ptio
ns0
00
00
00
00
00
0
of n
on-r
esid
ent
depo
sits
Gol
d an
d si
lver
bro
ught
thr
ough
00
00
3136
.710
7652
38.4
1670
6593
.121
0065
46.2
1943
pa
ssen
ger
bagg
age
Per
sona
l gi
fts
/ do
natio
ns t
o74
7.5
417
852.
534
412
99.3
445
2629
.183
818
43.9
587
4584
.713
59
char
itabl
e/re
ligio
us i
nstit
utio
ns i
n In
dia
TO
TA
L -
A37
36.7
2083
9418
.937
9811
260.
838
6416
582.
152
8725
474.
281
1228
768
8539
B.
PA
YM
EN
TS
Rem
ittan
ce b
y fo
reig
n w
orke
rs9.
75
10.6
410
.33
5.9
28.
73
37.9
11
for
fam
ily m
aint
aina
nce
Per
sona
l gi
fts/
dona
tions
to
0.9
19.
84
9.3
36.
12
11.6
420
6
char
itabl
e/re
ligio
us i
nstit
utio
ns a
broa
d
TO
TA
L -
B25
.714
37.5
1535
1268
.422
57.6
1910
8.2
33P
RIV
AT
E T
RA
NS
FE
RS
NE
T (
A-B
)37
1120
6993
81.4
3783
1122
5.8
3852
1651
3.7
5265
2541
6.6
8093
2865
9.8
8506
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
(Rs.
Cro
re)
(US
$ M
n)
1996
-97
1997
-98
1998
-99
1999
-00
2000
-01
2001
-02
Item
s(1
3)(1
4)(1
5)(1
6)(1
7)(1
8)(1
9)(2
0)(2
1)(2
2)(2
3)(2
4)
A.
RE
CE
IPT
SIn
war
d re
mitt
ance
fro
m I
ndia
n w
orke
rs89
50.2
2518
1930
352
3232
253
7661
3219
274
2337
681
8255
3851
480
76
abro
ad f
or f
amily
mai
nten
ance
Loca
l w
ithdr
awal
s /
rede
mpt
ions
1221
5.1
3427
1277
334
1878
0818
5917
849
4120
1730
537
9116
422
3444
of
non
-res
iden
t de
posi
tsG
old
and
silv
er b
roug
ht t
hrou
gh96
49.5
2718
9900
2699
705
171
5713
419
6213
pa
ssen
ger
bagg
age
Per
sona
l gi
fts
/ do
natio
ns t
o25
76.1
726
1954
526
2728
650
3182
734
3729
818
3138
659
ch
arita
ble/
relig
ious
ins
titut
ions
in
Indi
a
TO
TA
L -
A44
208.
312
435
4393
011
875
4349
410
341
5328
012
290
5875
612
873
5813
612
192
B.
PA
YM
EN
TS
Rem
ittan
ce b
y fo
reig
n w
orke
rs61
.317
153
4221
953
125
2920
144
172
37
for
fam
ily m
aint
aina
nce
Per
sona
l gi
fts/
dona
tions
to
7.9
212
333
823
514
331
143
30
char
itabl
e/re
ligio
us i
nstit
utio
ns a
broa
d
TO
TA
L -
B24
0.2
6816
545
252
6114
834
344
7531
567
PR
IVA
TE
TR
AN
SF
ER
S N
ET
(A
-B)
4396
8.1
1236
743
765
1183
043
242
1028
053
132
1225
658
412
1279
857
821
1212
5
Not
e:T
he t
otal
fig
ures
for
the
yea
r 19
90-9
1 to
199
6-97
will
not
tal
ly s
ince
all
the
item
s ar
e no
t av
aila
ble
for
all
the
year
s. T
he s
ame
can
be t
aken
fro
m t
he R
eser
ve B
ank
of I
ndia
Bul
letin
, A
pril,
199
9S
ourc
e: R
eser
ve B
ank
of I
ndia
Bul
letin
, M
ay 2
003,
Jan
uary
200
1, A
pril
1999
M
onog
raph
on
Indi
a's
Bal
ance
of
Pay
men
ts,
July
199
3
Balance of Payments 58A
pp
end
ix 3
(A):
Pri
vate
Fo
reig
n I
nve
stm
ent
: 19
55-5
6 to
196
3-64
(Rup
ees,
Cro
re)
Item
1955
-56
1956
-57
1957
-58
1958
-59
1959
-60
1960
-61
1961
-62
1962
-63
1963
-64
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
I.O
uts
tan
din
g L
iab
ility
un
der
fo
reig
n i
nve
stm
ent
442.
447
8.3
532.
056
2.5
582.
863
4.6
679.
873
5.5
629.
0(i
)D
irec
t In
vest
men
t38
6.5
409.
743
0.0
434.
144
3.7
495.
752
7.2
567.
656
5.5
(ii)
Por
tfol
io I
nves
tmen
t55
.968
.610
1.4
128.
413
9.1
138.
915
2.6
167.
963
.5
II.N
et I
nfl
ow
of
Fo
reig
n I
nve
stm
ent
14.9
23.8
20.7
2.6
10.2
51.8
28.1
29.6
25.6
(a)
Gro
ss I
nflo
w19
.930
.826
.728
.125
.763
.335
.638
.635
.8(i
)R
etai
ned
earn
ings
12.0
19.2
9.5
9.1
14.6
14.1
15.8
7.8
7.4
(ii)
Equ
ity7.
911
.617
.219
.011
.149
.219
.830
.828
.4(b
)O
utflo
w5.
07.
06.
025
.515
.511
.57.
59.
010
.2
Ap
pen
dix
3(B
): P
riva
te F
ore
ign
In
vest
men
t :
1964
-65
to 1
987-
88(R
upee
s, C
rore
)
1964
-65
1965
-66
1966
-67
1967
-68
1968
-69
1969
-70
1970
-71
1971
-72
1972
-73
1973
-74
1974
-75
1975
-76
1976
-77
1977
-78
1978
-79
1979
-80
1986
-87
1987
-88
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
(12)
(13)
(14)
(15)
(16)
(17)
(18)
I.O
uts
tan
din
g L
iab
ility
un
der
677.
569
6.1
766.
379
6.6
826.
484
4.3
878.
792
8.7
996.
110
48.2
1103
.910
88.2
1052
.010
15.7
1015
.810
74.7
2201
.027
64.0
F
ore
ign
In
vest
men
t(a
)D
irec
t in
vest
men
t61
1.9
628.
269
2.0
710.
173
7.7
735.
476
7.3
816.
.86
7.0
916.
997
3.3
957.
l92
0.2
876.
087
5.4
933.
217
42.0
2045
.0(b
)P
ortf
olio
inve
stm
ent
65.6
67.9
74.3
86.5
88.7
108.
911
1.4
112.
312
9.1
131.
313
0.6
131.
113
1.8
139.
714
0.4
141.
545
9.0
719.
0
II.In
flo
w u
nd
er f
ore
ign
in
vest
men
t46
.817
.531
.137
.127
.524
.435
.943
.830
.451
.969
.1-7
.6-2
6.1
-9.9
24.4
69.6
249.
0..
1D
irec
t In
vest
men
t (n
et)
44.7
15.2
24.7
24.8
25.3
21.9
33.4
43.1
28.4
48.7
69.9
-26.
8-1
7.8
23.7
184.
0..
A.
For
eign
con
trol
led
rupe
e42
.633
.324
.929
.928
.834
.437
.434
.434
.831
.784
.937
.56.
147
.849
.165
.217
6.0
303.
0
com
pani
es(a
)G
ross
inf
low
42.8
33.5
25.6
30.8
30.8
35.6
38.1
37.6
35.5
40.1
95.5
48.0
42.1
60.1
65.0
72.8
177.
0..
(i)E
quity
22.4
14.7
10.7
12.6
13.0
6.6
9.7
3.7
3.4
2.2
2.9
3.7
5.0
5.8
1.5
9.1
77.0
..(i
i)R
etai
ned
earn
ings
20.4
18.8
14.9
18.2
17.8
29.0
28.4
33.9
32.1
37.9
92.6
44.3
37.1
54.3
51.5
63.1
100.
0..
(b)
Out
flow
0.2
0.0
0.7
0.9
2.0
1.2
0.7
3.2
0.7
8.4
10.6
10.5
36.0
12.3
15.9
1.6
1.0
..B
.B
ranc
hes
(net
)2.
1-1
8.1
-0.2
-5.1
-3.5
-12.
5-4
.08.
7-6
.417
.0-1
5.0
-45.
6-3
2.9
-65.
6-2
5.4
3.3
8.0
..2
Por
tfol
io i
nves
tmen
t (n
et)
2.1
2.3
6.4
12.3
2.2
2.5
2.5
0.7
2.0
3.2
-0.8
-0.5
0.7
.7.9
0.7
1.1
65.0
260.
0(a
)In
flow
2.6
2.4
6.9
12.3
2.6
2.9
2.6
1.2
2.0
3.4
0.7
1.3
4.3
9.9
2.0
2.1
87.0
..(b
)O
utflo
w0.
50.
10.
5-
0.4
0.4
0.1
0.5
-0.
21.
50.
83.
62.
01.
31.
022
.0..
Not
es:
c: I
nclu
des
port
folio
inv
estm
ent
d: I
nflo
w d
urin
g 19
48 t
o 19
53e:
Inf
low
dur
ing
1954
to
1955
1. F
orei
gn c
ontr
olle
d ru
pee
com
pani
es a
re I
ndia
n jo
int
stoc
k co
mpa
nies
whi
ch a
re (
i) s
ubsi
diar
ies
of f
orei
gn c
ompa
nies
(ii)
com
pani
es i
n w
hich
40%
or
mor
e of
the
equ
ity s
hare
capi
tal
is h
eld
by a
for
eign
com
pany
or
its n
omin
ees;
ban
king
, In
sura
nce
and
Gov
ernm
ent
com
pani
es a
re e
xclu
ded.
Fig
ures
rep
rese
nt e
quity
hol
ding
of
inve
stor
s in
the
cou
ntry
of
cont
rol
and
thei
r pr
opor
tiona
te s
hare
in
the
free
res
erve
s of
the
for
eign
con
trol
led
rupe
e co
mpa
nies
.2.
Por
tfol
io e
quity
inv
estm
ent
in n
on-f
orei
gn c
ontr
olle
d ru
pee
com
pani
esan
d or
dina
ry s
hare
s of
for
eign
con
trol
led
rupe
e co
mpa
nies
hel
d by
inv
esto
rs i
n co
untr
ies
othe
r th
an t
he c
ount
ryof
con
trol
and
inv
estm
ent
in p
refe
renc
e sh
ares
and
deb
entu
res,
non
-res
iden
t ho
ldin
gs o
f pr
efer
ence
sha
res
and
debe
ntur
es o
f ru
pee
com
pani
es.
3. F
low
of
long
-ter
m f
orei
gn l
iabi
litie
s ar
e ex
clus
ive
of v
alua
tion
chan
ges
and
henc
e w
ould
diff
er f
rom
the
net
cha
nges
in
the
book
val
ues
at f
rom
out
stan
ding
lev
els.
4. D
ata
for
the
year
s 19
53 t
o 19
62 r
elat
e to
cal
enda
r ye
ars
whi
le t
hose
for
196
3-64
onw
ards
rel
ate
to f
isca
l ye
ars.
5.In
vie
w o
f th
e sh
ift i
n th
e as
sess
men
t pe
riod
fro
m c
alen
dar
year
to
finan
cial
yea
r it
has
not
been
pos
sibl
e to
ind
icat
e th
e in
flow
s/ou
tflo
ws
duri
ng 1
962-
63.
6. S
tock
fig
ures
rel
ate
to e
nd o
f th
e pe
riod
and
flo
w f
igur
es r
elat
e to
dur
ing
the
year
.7.
Dat
a ar
e no
t av
aila
ble
for
1980
-81
thro
ugh
1985
-86
as n
o su
rvey
was
con
duct
ed d
urin
g th
is p
erio
d.8.
Dat
a be
twee
n 19
87-8
8 to
198
9-90
is
not
avai
labl
e.S
ourc
e:M
onog
raph
on
Indi
a’s
Bal
ance
of
Pay
men
ts,
July
199
3
59 Balance of Payments
Ap
pen
dix
3(C
): F
ore
ign
In
vest
men
t In
flo
ws
: 19
90-9
1 to
200
2-03
(In
US
Mill
ion)
1990
-91
1991
-92
1992
-93
1993
-94
1994
-95
1995
-96
1996
-97
1997
-98
1998
-99
1999
-00
2000
-01
2001
-02
2002
-03
2003
-04
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
(12)
(13)
(14)
(15)
A.
Dir
ect
Inve
stm
ent
(I+
II+III
)97
129
315
586
1,31
42,
144
2,82
13,
557
2,46
221
554,
029
6,13
14,
660
4675
I.
Equ
ity (
a+b+
c+d+
e)..
129
315
586
1,31
42,
144
2,82
13,
557
2,46
22,
155
2,40
04,
095
2,70
023
87
a.
Gov
ernm
ent
(S
IA/F
IPB
)..
6622
228
070
11,
249
1,92
22,
754
1,82
11,
410
1,45
62,
221
919
928
b.
RB
I..
-42
8917
116
913
520
217
917
145
476
773
953
4
c.
NR
I..
6351
217
442
715
639
241
6284
6735
--
d.
Acq
uisi
tion
of
sh
ares
*..
....
....
1112
536
040
049
036
288
191
673
5
e.
Equ
ity c
apita
l of
uni
ncor
pora
ted
bod
ies
....
....
....
....
....
6119
112
619
0
II.
Rei
nves
ted
ea
rnin
gs $
....
....
....
....
....
1,35
01,
646
1,49
818
00
III
. O
ther
Cap
ital
$$..
....
....
....
....
..27
939
046
248
8
B.
Po
rtfo
lio I
nve
stm
ent
64
244
3,56
73,
824
2,74
83,
312
1,82
8-6
13,
026
2,76
02,
021
979
1137
7
a.
GD
Rs/
AD
Rs
#-
-24
01,
520
2,08
268
31,
366
645
270
768
831
477
600
459
b.
FII
s **
--
11,
665
1,50
32,
009
1,92
697
9-3
902,
135
1,84
71,
505
377
1091
8
c.
Off
shor
e fu
nds
and
ot
hers
64
338
223
956
2020
459
123
8239
2-
To
tal
(A+B
)10
313
355
941
5351
3848
9261
3353
8524
0151
8167
8981
5256
3916
052
*:
Rel
ates
to
acqu
isiti
on o
f sh
ares
of
Indi
an c
ompa
nies
by
non-
resi
dent
s un
der
Sec
tion
5 of
FE
MA
, 19
99.
Dat
a on
suc
h ac
quis
ition
s ha
ve b
een
incl
uded
as
part
of
FD
I si
nce
Janu
ary
1996
.
#:
Rep
rese
nts
the
amou
nt r
aise
d by
Ind
ian
corp
orat
es t
hrou
gh G
loba
l D
epos
itary
Rec
eipt
s (G
DR
s) a
nd A
mer
ican
Dep
osito
ry R
ecei
pts
(AD
Rs)
**:
Rep
rese
nts
inflo
w o
f fu
nds
(net
) by
For
eign
Ins
titut
iona
l In
vest
ors
(FII
s)
$:
Dat
a fo
r 20
02-0
3 ar
e es
timat
ed a
s av
erag
e of
pre
viou
s tw
o ye
ars.
$$:
Dat
a pe
rtai
n to
int
er-c
ompa
ny d
ebt
tran
sact
ions
of
FD
I en
titie
s.
Not
es:
Dat
a on
FD
I ha
s be
en r
evis
ed s
ince
200
0-01
with
exp
ande
d co
vera
ge t
o ap
proa
ch i
nter
natio
nal
best
pra
ctic
es.
The
se d
ata,
the
refo
re,
are
not
com
para
ble
with
FD
I da
ta f
or p
revi
ous
year
s.
Sou
rces
: R
eser
ve B
ank
of I
ndia
Bul
letin
, A
ugus
t 20
04 a
nd v
ario
us e
arlie
r is
sues
.
Balance of Payments 60
Ap
pen
dix
4(A
): I
nfl
ow
s u
nd
er F
CN
R a
nd
NR
(E)R
A A
cco
un
ts :
197
5-76
to
200
3-03
FC
NR
A@
NR
(E)R
A
Yea
rIn
clud
ing
accr
ued
inte
rest
Exc
ludi
ng e
stim
ated
acc
rued
int
eres
t
Rs.
cro
reU
.S.$
mill
ion
Rs.
cro
reU
.S.$
mill
ion
Rs.
cro
reU
.S.$
mill
ion
(1)
(2)
(3)
(4)
(5)
(6)
(7)
1975
-76
6.5
7.5
33.1
38.1
29.8
34.3
1976
-77
50.0
55.7
126.
114
0.4
117.
213
0.5
1977
-78
83.4
97.1
134.
715
6.8
116.
713
5.8
1978
-79
17.6
21.3
167.
220
3.2
138.
616
8.4
1979
-80
-5.0
-6.2
209.
025
8.1
167.
320
6.5
1980
-81
-3.7
-4.7
236.
829
9.4
93.7
118.
519
81-8
2-1
6.3
-18.
232
1.3
358.
387
.3-9
7.3
1982
-83
109.
111
2.8
420.
243
4.7
111.
911
5.8
1983
-84
331.
432
0.9
575.
155
6.2
341.
233
0.0
1984
-85
275.
423
1.7
609.
751
2.8
603.
650
7.7
1985
-86
1151
.294
0.8
597.
548
8.3
616.
050
3.4
1986
-87
1172
.891
7.8
874.
868
4.6
477.
037
3.4
1987
-88
1362
.810
51.1
770.
859
4.5
477.
036
8.0
1988
-89
2230
.015
40.0
792.
054
6.9
235.
016
2.0
1989
-90
2165
.013
09.0
608.
036
5.2
277.
016
6.0
1990
-91
255.
016
8.0
689.
038
4.0
156.
084
.019
91-9
2-3
605.
0-1
611.
079
3.0
324.
0-4
4.0
-27.
019
92-9
322
3.0
86.0
783.
025
5.0
111.
039
.019
93-9
4-7
416.
0-2
364.
024
37.0
777.
0-
-19
94-9
5-
-32
95.0
1049
.0-
-19
95-9
6-
--8
96.0
-208
.0-
-19
96-9
7-
-44
34.0
1244
.0-
-19
97-9
8-
-43
81.0
1197
.0-
-19
98-9
9-
-33
61.0
799.
0-
-19
99-0
0-
-38
35.0
885.
0-
-20
00-0
1-
-39
29.0
860.
0-
-20
01-0
2-
-77
55.0
1626
.0-
-20
02-0
3-
-29
981.
061
95.0
--
2003
-04
--
2157
4.0
4695
.0-
-
Not
es:
@:
Exc
ludi
ng a
ccru
ed i
nter
est.
Sou
rces
: M
onog
raph
on
Indi
a's
Bal
ance
of
Pay
men
ts,
July
, 19
93H
andb
ook
of S
tatis
tics
on t
he I
ndia
n E
cono
my,
RB
I 20
03-0
4
61 Balance of Payments
Ap
pen
dix
4(B
): N
RI
Dep
osi
ts -
Ou
tsta
nd
ing
s :
1975
-76
to 2
002-
03
(U.S
. $
mill
ion)
(As
at t
he e
nd o
f M
arch
)
Yea
r (e
nd M
arch
)19
7519
7619
7719
7819
7919
8019
8119
8219
8319
84(1
)(2
)(3
)(4
)(5
)(6
)(7
)(8
)(9
)(1
0)(1
1)
1.F
CN
R(A
)**
965
168
192
188
185
157
252
570
2.F
CN
R(B
)**
****
****
****
****
**
3.N
R(E
)RA
4071
216
386
604
856
1145
1347
1684
2105
4.N
R(N
R)R
D**
****
****
****
****
**
(U.S
. $
mill
ion)
(As
at t
he e
nd o
f M
arch
)
Yea
r (e
nd M
arch
)19
8519
8619
8719
8819
8919
9019
9119
9219
9319
94(1
)(2
)(3
)(4
)(5
)(6
)(7
)(2
)(3
)(4
)(5
)
1.F
CN
R(A
)77
017
7027
1938
2852
7565
8610
103
9792
1061
793
00
2.F
CN
R(B
)**
****
****
****
****
1108
3.N
R(E
)RA
2304
2817
3354
3942
3774
3777
3618
3025
2740
3523
4.N
R(N
R)R
D**
****
****
****
***
*61
017
54
(U.S
. $
mill
ion)
(As
at t
he e
nd o
f M
arch
)
Yea
r (e
nd M
arch
)19
9519
9619
9719
9819
9920
0020
0120
0220
0320
04(1
)(6
)(7
)(8
)(9
)(1
0)(1
1)(1
2)(1
3)(1
4)(1
5)
1.F
CN
R(A
)70
5142
5523
061
**
**
**
2.F
CN
R(B
)30
6357
2074
9684
6778
3581
7290
7696
7310
199
1096
1
3.N
R(E
)RA
4556
3916
4983
5637
6045
6758
7,14
78,
449
14,9
2320
,559
4.N
R(N
R)R
D24
8635
4256
0462
6266
1867
5468
4970
5234
0717
46
@:
incl
usiv
e of
acc
rued
int
eres
t*
:w
ithdr
awn
effe
ctiv
e A
ugus
t, 1
994
@@
:T
he i
nflo
ws
into
NR
(E)R
A d
epos
its d
urin
g th
e ye
ar 2
003-
04 m
ay p
artly
be
due
to c
redi
ting
of m
atur
ity p
roce
eds
of t
he N
R(N
R)R
de
posi
ts w
hich
wer
e di
scon
tinue
d w
ith e
ffec
t fr
omA
pril
1, 2
002.
**:
intr
oduc
ed i
n M
ay,
1993
***
:in
trod
uced
in
June
, 19
92N
ote
: A
ll fig
ures
are
inc
lusi
ve o
f in
tere
st a
nd v
alua
tion
chan
ges
aris
ing
on a
ccou
nt o
f flu
ctua
tion
in n
on-d
olla
r cu
rren
cies
aga
inst
US
Dol
lar
Sou
rce
:R
eser
ve B
ank
of I
ndia
Bul
letin
, N
ovem
ber
2004
and
var
ious
ear
lier
issu
es.
Balance of Payments 62
Appendix 5: External Transactions As Per CSO’s National Accounts Statistics As Per 1980-81 Series (at Current Prices)
(Rupees, Crore)
Item 1960-61 1961-62 1962-63 1963-64 1964-65 1965-66 1966-67 1967-68 1968-69 1969-70
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11)(12)
I Current Transactions
(1) Exports of goods and services 784 802 835 985 1015 932 1325 1508 1597 1625(4.6) (4.4) (4.3) (4.4) (3.9) (3.4) (4.2) (4.1) (4.1) (3.8)
(2) Compensation of Employees from the rest of the world 2 2 2 1 3 4 5 1 7 7
(3) Property and enterprenuerial income from the rest of the world 14 12 11 11 11 11 18 20 26 34
(4) Other current transfers from the rest of the world 45 53 48 55 56 95 110 121 144 139
(5) Adjustment of merchandise exports to the change of ownership basis* N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A.
(6) Current receipts 845 869 896 1052 1085 1042 1458 1650 1774 1805 (7) Imports of goods and services 1236 1110 1209 1363 1526 1464 2115 2201 1897 1747
(7.2) (6.1) (6.2) (6.1) (5.8) (5.3) (6.8) (6.0) (4.9) (4.1) (8) Compensation of employees
to the rest of the world 11 16 18 13 22 26 35 37 37 33 (9) Property and enterpreneurial income
to the rest of the world 62 80 95 103 120 135 211 230 240 252(10) Other current tranfers
to the rest of the world 17 18 14 13 17 16 20 19 16 14(11) Adjustment of merchandise
imports to the change of ownership basis* N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A. N.A.
(12) Surplus of the nation on current transactions -495 -361 -448 -448 -619 -616 -930 -849 -427 -269
(13) Disposal of current receipts 845 869 896 1052 1085 1042 1458 1650 1774 1805
II Capital Transactions
(14) Surplus of the nation on current transactions -495 -361 -448 -448 -619 -616 -930 -849 -427 -269
(15) Capital transfers from the rest of the world (Net) 45 23 60 76 128 76 71 22 40 19
(16) Incurrence of foreign liabilities (Net) 0 0 0 0 0 0 0 0 0 0(17) Receipts -450 -338 -388 -372 -491 -540 -859 -827 -387 -250(18) Purchases of intangible assets
n.e.c. from the rest of the world (Net) 0 0 0 0 0 0 0 0 0 0
(19) Acquisition of foreign financial assets -450 -338 -388 -372 -491 -540 -859 -827 -387 -250
(20) Disbursements -450 -338 -388 -372 -491 -540 -859 -827 -387 -250
(Contd)
63 Balance of Payments
Appendix 5: External Transactions As Per CSO’s National Accounts Statistics As Per 1980-81 Series (at Current Prices)
(Rupees, Crore)
Item 1970-71 1971-72 1972-73 1973-74 1974-75 1975-76 1976-77 1977-78 1978-79 1979-80
(1) (2) (13) (14) (15) (16) (17) (18) (19) (20) (21)(22)
I Current Transactions
(1) Exports of goods and services 1771 1785 2149 2830 3835 4812 6139 6636 7115 8381(3.9) (3.6) (4.0) (4.3) (4.9) (5.8) (6.8) (6.5) (6.5) (6.9)
(2) Compensation of Employees from the rest of the world 8 8 6 3 1 2 4 56 4 8
(3) Property and enterprenuerial income from the rest of the world 49 35 38 42 95 116 188 268 398 645
(4) Other current transfers from the rest of the world 136 175 165 204 280 541 746 1029 1059 1632
(5) Adjustment of merchandise exports to the change of ownership basis* -132 N.A. N.A. -172 -149 -135 -13 30 -171 -258
(6) Current receipts 1832 2003 2358 2907 4062 5606 7064 7968 8405 10408(7) Imports of goods and services 1816 1994 2328 3176 4779 5143 5614 6522 7426 9859
(4.0) (4.1) (4.3) (4.8) (6.2) (6.2) (6.3) (6.4) (6.7) (8.2)(8) Compensation of employees
to the rest of the world 11 12 11 12 11 11 23 48 54 20(9) Property and enterpreneurial income
to the rest of the world 300 282 305 325 281 322 368 410 452 433(10) Other current tranfers
to the rest of the world 13 12 11 12 6 13 7 7 17 8(11) Adjustment of merchandise
imports to the change of ownership basis* 86 N.A. N.A. -226 -362 0 -257 -487 584 668
(12) Surplus of the nation on current transactions -424 -518 -327 -425 -748 77 1275 1417 -180 -627
(13) Disposal of current receipts 1832 2003 2358 2907 4062 5606 7064 7968 8405 10408
II Capital Transactions
(14) Surplus of the nation on current transactions -424 -518 -327 -425 -748 77 1257 1417 -180 -627
(15) Capital transfers from the rest of the world (Net) 53 75 43 1691 8 176 216 270 296 336
(16) Incurrence of foreign liabilities (Net) 0 0 0 0 0 0 0 0 0 0(17) Receipts -371 -443 -284 1266 -740 -371 253 1491 116 -288(18) Purchases of intangible assets
n.e.c. from the rest of the world (Net) 0 0 0 0 0 0 0 0 0 0
(19) Acquisition of foreign financial assets -371 -443 -284 1266 -740 253 1491 1687 116 -288
(20) Disbursements -371 -443 -284 1266 -740 253 1491 1687 116 -288
(Contd)
Balance of Payments 64
Appendix 5: External Transactions As Per CSO’s National Accounts Statistics As Per 1980-81 Series (at Current Prices)
(Rupees, Crore)
Item 1980-81 1981-82 1982-83 1983-84 1984-85 1985-86 1986-87 1987-88 1988-89 1989-90
(1) (2) (23) (24) (25) (26) (27) (28) (29) (30) (31)(32)
I Current Transactions
(1) Exports of goods and services 9029 10256 11563 13139 15846 14951 16543 20281 25913 34632(6.3) (6.1) (6.1) (6.0) (6.5) (5.4) (5.3) (5.7) (6.1) (7.1)
(2) Compensation of Employees from the rest of the world 6 9 10 9 12 14 9 17 33 113
(3) Property and enterprenuerial income from the rest of the world 859 820 515 469 590 679 654 586 613 700
(4) Other current transfers from the rest of the world 2269 2237 2541 2785 3116 2835 2991 3533 3865 3824
(5) Adjustment of merchandise exports to the change of ownership basis* -135 -41 334 397 215 683 853 722 415 584
(6) Current receipts 12028 13281 14963 16799 19779 19161 21060 25139 30839 39817(7) Imports of goods and services 13596 14809 15736 17675 19484 21754 22359 25259 32010 40300
(9.5) (8.8) (8.4) (8.1) (7.9) (7.8) (7.2) (7.1) (7.6) (8.3)(8) Compensation of employees
to the rest of the world 35 27 72 72 113 112 178 380 390 332(9) Property and enterpreneurial
income to the rest of the world 485 762 1087 1350 1913 2009 2290 2842 4752 6212(10) Other current tranfers
to the rest of the world 12 16 14 11 15 14 15 34 34 26(11) Adjustment of merchandise
mports to the change of ownership basis* -6 278 620 208 1546 1506 2573 3448 5667 5226
(12) Surplus of the nation on current transactions -2094 -2611 -2566 -2517 -3292 -6234 -6335 -6825 -12304 -12279
(13) Disposal of current receipts 12028 13281 14963 16799 19779 19161 21060 25139 30839 39817
II Capital Transactions
(14) Surplus of the nation on current transactions -2094 -2611 -2566 -2517 -3292 -6234 -6355 -6825 -12304 -12279
(15) Capital transfers from the rest of the world (Net) 438 294 270 255 440 307 525 532 724 897
(16) Incurrence of foreign liabilities (Net) 1864 1342 3257 3774 3588 4232 5707 5864 9658 10990(17) Receipts 208 -975 961 1512 736 -1665 -123 -429 -1922 -392(18) Purchases of intangible assets
n.e.c.from the rest of the world (Net) 0 0 0 0 0 0 0 0 0 0
(19) Acquisition of foreign financial assets 208 -975 961 1512 736 -1695 -123 -429 -1922 -392
(20) Disbursements 208 -975 961 1512 736 -1695 -123 -429 -1922 -392
(Contd)
65 Balance of Payments
Appendix 5: External Transactions As Per CSO’s National Accounts Statistics As Per 1980-81 Seriesfor 1990-91 to 1992-93 and As Per 1993-94 Series thereafter (All at Current Prices) (Concluded)
(Rupees, Crore)
Item 1990-91 1991-92 1992-93 1993-94 1994-95 1995-96 1996-97 1997-98 1998-99 1999-00
(1) (2) (33) (34) (35) (36) (37) (38) (39) (40) (41)(42)
I Current Transactions
(1) Exports of goods and services 40635 56254 67312 86147 101607 130733 144854 165203 195281 231111(7.1) (8.6) (9.0) (10.0) (10.0) (11.0) (10.6) (10.9) (11.1) (11.8)
(2) Compensation of Employees from the rest of the world 74 117 35 105 278 302 528 0 180 646
(3) Property and enterprenuerial income from the rest of the world 676 558 1021 1284 2830 4838 3811 5795 7953 7727
(4) Other current transfers from the rest of the world 3737 9419 8124 11344 18881 22220 44208 43929 43494 53280
(5) Adjustment of merchandise exports to the change of ownership basis* 595 880 1074 1395 1655 2127 2377 2602 4683 3068
(6) Current receipts 45717 67228 77566 100238 125251 160220 195778 217529 251591 2955832(7) Imports of goods and services 48696 56249 73000 85999 104710 144953 161022 184333 224743 256007
(8.6) (8.6) (9.8) (10.0) (10.3) (12.2) (11.8) (12.1) (12.8) (13.1)(8) Compensation of employees
to the rest of the world 320 286 347 1277 1299 1504 1841 235 69 57(9) Property and enterpreneurial income
to the rest of the world 7975 10466 12512 12455 14892 17120 15580 18765 23032 23747(10) Other current tranfers
to the rest of the world 26 37 35 68 58 108 240 165 252 148(11) Adjustment of merchandise
imports to the change of ownership basis* 6894 3567 5488 5529 16183 17315 34833 36333 21582 35529
(12) Surplus of the nation on current transactions -18196 -3377 -13816 -4791 -11891 -20780 -17738 -22302 -18087 -19656
(13) Disposal of current receipts 5717 67228 77566 100238 125251 160220 195778 217529 251591 295832
II Capital Transactions
(14) Surplus of the nation on current transactions -18196 -3377 -13816 -4791 -11891 -20780 -17738 -22302 -18087 -19656
(15) Capital transfers from the rest of the world (Net) 828 1140 1053 1155 1309 1173 1457 1417 1300 1657
(16) Incurrence of foreign liabilities (Net) 16624 10606 12608 23965 19331 18753 53210 48072 48285 45675(17) Receipts -744 8369 -155 20329 8749 -854 36929 27187 31497 27676(18) Purchases of intangible assets
n.e.c.from the rest of the world (Net) 0 0 0 0 0 0 0 0 0 0
(19) Acquisition of foreign financial assets -744 8369 -155 20329 8749 -854 36929 27187 31497 27676
(20) Disbursements -744 8369 -155 20329 8749 -854 36929 27187 31497 27676
* Shows the difference between the figures of merchandise exports/imports from the two sources viz. RBI and DGCI & S.Note: Figures within bracket represent percentages to GDP at Current Market Prices.Sources: CSO, National Accounts Statistics, (various issues)
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