India’s Balance of Payments

Concepts, 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 November
13-20, 1993. The same has been thoroughly revised and updated by Ms. Shilpa Jain for publication on
the website www.epwrf.res.in Mrs. Rema K. Nair undertook page-making.

Contents
Section No.

Title

I

II

III

Page No.

List of Exhibits and Appendices

i

Key Concepts
Current and Capital Accounts
Merchandise on FOB/ CIF basis
Invisibles
Capital Account

1

Sources of BOP Data
Difference between RBI Balance of payments data and customs data
Apparent gaps in BOP data

5

An Overview of India’s Balance of Payments

10

Notes

12

List of Text Tables
Text Table
1:

2:

3:

4:

India’s Foreign Trade:
A Comparison of DGCI & S and RBI Data

6

Foreign Exchange Reserves:
1950-51 to 2003-04

14

Financing of Current Account Deficits:
1950-51 to 2003-04

15

Balance of Payments-Selected Indicators:
1950-51 to 2001-02

17

List of Exhibits and Appendices
Title

Page No.

Exhibits
Exhibit
A:

B:

Estimation of Invisible Accounts A Comparison of RBI Classification with the IMF Classification (IMF BOP MANUAL)

7

Estimation of Invisible Accounts A Comparison of RBI Classification with the IMF Classification (IMF BOP Yearbook)

8

Appendices
Appendix
1:

Balance of Payments:
1950-51 to 1989-90 (Rs. Crore / Dollar Million)
1990-91 to 2003-04 (Rs. Crore)
1990-91 to 2003-04 (US Dollar Million)

19
23
26

Break-up of Invisibles on Current Account
Travel Account

29
35

(i)
(ii)

Transportation Account :
1956-57 to 1989-90 (Rs. Crore)
1990-91 to 2001-02 (Rs. Crore/ Dollar Million)

36
38

(i)
(ii)

Insurance Account :
1956-57 to 1996-97 (Rs. Crore)
1997-98 to 2001-02 (Rs. Crore/ Dollar Million)

40
41

(i)
(ii)

Investment Income Account :
1956-57 to 1996-97 (Rs. Crore)
1997-98 to 2001-02 (Rs. Crore/ Dollar Million)

42
45

(i)
(ii)

Government not included elsewhere Account :
1956-57 to 1989-90 (Rs. Crore)
1990-91 to 2001-02 (Rs. Crore/ Dollar Million)

46
47

(i)
(ii)

Miscellaneous Account :
1956-57 to 1989-90 (Rs. Crore)
1990-91 to 2001-02 (Rs. Crore/ Dollar Million)

48
50

(i)
(ii)

Official Transfer Payments Account :
1956-57 to 1989-90 (Rs. Crore)
1990-91 to 2001-02 (Rs. Crore/ Dollar Million)

52
54

(i)
(ii)

Private Transfer Payments Account :
1956-57 to 1989-90 (Rs. Crore)
1990-91 to 2001-02 (Rs. Crore/ Dollar Million)

55
57

Foreign Inevestment
Private Foreign Investment
Foreign Investment Inflows

58
59

NRI Deposits
A Inflows under FCNR and NR(E)RA Accounts
NRI Deposits Outstanding

60
61

2:
(A)
(B)

(C)

(D)

(E)

(F)

(G)

(H)

3:
(A),(B)
(C)
4:

5:

External Transactions as per CSO’s
National Account Statistics

62

the ‘errors and omissions’ remain negative. transactions relating to goods. The sum of these current and capital account transactions together constitutes the basic balance on BOP and theoretically it should be finally rounded up. Tourist and commercial travellers. coverage. transfers without quid pro quo and financial claims and liabilities. c) the build-up or drawdown of the country’s own reserve assets. in reality. receipts and payments of incomes. while those relating to claims and liabilities of a financial nature and capital transfers and acquisition or disposals of non-produced. The above is the theoretical position. and finally. Therefore. Incidentally. Major exceptions to this are the official diplomatic and consular representatives. valuation and possible inaccurate estimation (which also includes clandestine capital flight through various devices). the International Monetary Fund (IMF) has prescribed a Balance of Payment Manual. 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. and the positive sign signifying the reverse. With a view to standardising the concepts and definitions.India’s Balance of Payments Concepts. the rule of thumb adopted for recognition of such permanence is a stay of one year or more. However. or to absorb its surplus. services and income. members of armed forces and other government personnel of a foreign country stationed in a given country who are treated (together with their dependents) as non-residents for the country of their posting or as residents of the country they represent. . the balance of payment (BOP) account records transactions between a resident economic entity and the rest of the world. Compilation and Recent Scenario: 1950-51 to 2003-04 I Key Concepts A balance of payments statement is essentially a double entry system of record for a given period of an economy’s two-way international transactions in the form of goods and services. generally a combination of both. b) allocation of the IMF’s Special Drawing Rights (SDRs) intended to supplement the relatively inadequate international reserves and also to serve as a principle reserve asset of the international monetary system. are all considered as residents of the economy in which they normally live. non-financial assets which go to finance the deficit on current account. Current and Capital Accounts In BOP accounting. and current transfers constitute the current account. Though the resident status of an individual is conceived in terms of the permanence of interest within a given territory. form the capital account. due to myriad discrepancies arising from differences in timing. the credit side of the double entry accounting does not exactly match the sum of all debit entries. The double-entry accounting should be closed with the help of: a) purchase and repurchase from the IMF essentially as a multilateral agency for the countries’ BOP support. classificatory schemes and conventions applied in the compilation of balance of payment statistics by various countries. the objective of SDRs serving as a principal reserve asset was scuttled in the midst of the controversy regarding the justification or otherwise for additional reserve assets.1 India.2 Principally. employees of foreign governments and international bodies on a mission of less than one year and seasonal workers from foreign countries. It is very often found that in years of large depreciation of the rupee. 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. there exist some departures from the IMF framework due to the constraints of data availability and to take account of the country’s institutional structure.

o. Trade balance is defined as the difference between total exports and total imports (both merchandise).f.b.b.o. that is. Besides. values of total imports also. values of exports.3 The IMF apparently has a method of using global adjustment to the import data for converting c. that is. Foreign trade data relate to merchandise trade through all the recognized seaport.b.o. which include re-exports. As per the IMF Manual. However. Data on exports. basis. insurance and freight) basis on the ground of the nature of data availability. which facilitate such a distinction and estimate the proportion of freight. relate to fob values and imports relate to c. the invisibles account comprises costs of services. under invisbles) now on the given basis of fob value. In the regular dissemination of BOP data. airports. since October 1983 the relevant forms specify the f. in accordance with the provisions of IMF Manual on BOP (5th edition). the RBI did conduct such surveys in the past for converting into f. basis. constituting the current account on the BOP. basis. Data from the earlier period have been amended by making suitable adjustments in ‘other capital receipts’ and ‘foreign exchange reserves’. these entries have been included under merchandise.4 Though. Imports relate to foreign merchandise whether intended for home consumption. Invisibles As distinguished from the ‘visibles’ (merchandise) transactions.Balance of Payments 2 Merchandise on FOB / CIF basis The transactions relating to goods. while that earned by domestic carriers has to be treated as receipts (credit) under the same subitems. payments and remittances unrequited or without quid pro quo or without any repayment obligations). import invoices do not distinguish between the cost of merchandise and freight and insurance.o.i.b. respectively. imports and exports of goods (merchandise) should be presented under free-on-board (f. the BOP data put out by the Indian authorities (Reserve Bank of India as well as the Government of India) make a major departure from the IMF manual in that while they present exports on an FOB basis they set out imports on CIF (cost. into f. With a view . services and income. publishes India’s BOP with merchandise imports also on a f. are functionally classified in two broad categories: merchandise and invisibles. which indicated that freight and insurance elements constituted of about four per cent of the c.o. basis those export invoices which were on c. according to which re-exports relate to Indian merchandise previously imported into India.i. gold purchased from the government of India by RBI has been excluded from the BOP statistics.i.i. value of exports the above survey results are required to be used to estimate the freight and insurance components (i.b. Incidentally. Exports are based on the general system of recording..o. Apparently a 1948 survey. income and transfer payments (ie. these also carry alongside the Indian system of classifications.o. without including freight and insurance costs. however. Within the above broad heads. the Indian authorities now provide the ‘invisibles’ account data under seven broad heads. or c. Similarly.i. the Reserve Bank of India has now begun to provide many more details.b. values. Interestingly. which may be seen in disaggregated data presented in Appendix Tables 2(A) to 2(H). presenting uniform BoP data for its member countries. insurance and other distributive services in the total CIF value of imports and thus apply the results for deriving the f. Such freight and insurance paid to foreign shipping and air carriers should be treated as an outgo (debit) under the invisible sub-items. the IMF in its Year Book on Balance of Payment Statistics. Exhibits I(A) and I(B) provide listings of current account transactions as per the IMF Manual and as per the BOP yearbook. It is true that many other countries do not possess such detailed data and hence they club certain items together and publish data on fewer heads.b. while exports declarations are uniformally on f. is broadly considered valid for quite some years as per subsequent surveys.f. The item Non-Monetary Gold Movement has been deleted from invisibles in conformity with IMF Manual on BOP (4th edition) from May 1993 onwards.e.f. The IMF manual classifies non-merchandise current account transactions into as many as thirteen items and also obtains from the reporting country authorities and publishes (supplemented by its own estimates) in its BOP yearbook fairly disaggregated information on a number of countries. land customs stations and inland container depots of India. basis).f. transportation and insurance services. it is found that many other countries conduct periodical sample studies of import invoices. bonding or re-exploration.

Since 1990-91. the acquisition or disposal of a fixed asset (eg investment grant) by one or both parties to the transaction. commercial papers (CPs). Miscellaneous services encompass communication services. Investment income receipts comprise interest received on loans to non-residents. Because of the emergence of software services as a highly focused and dynamic area of export activity in the 1990s. royalties. 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. news agency services and others. charges on SDRs and others. or conditional on. dividend/profit received by Indians on foreign investments. or (iii) A transfer of cash when linked to.3 Balance of Payments to disseminating more disaggregated data on India’s trade and services. etc. Undistributed income or retained earnings of an enterprise held by non-residents are conceived of as a payment of income to the foreign investor and simultaneous reinvestment of that income by the foreign . payments of taxes by nonresidents/refunds of taxes by foreign governments and interest/discount earnings on RBI holding of foreign assets. Apart from some broad details presented in Appendix Table 2A. capital transfer should result in a commensurate change in the stocks of assets of one or both parties to the transaction. profit and others for servicing of capital transactions. the value of defense related imports are recorded under imports (merchandise debit) with credits financing such imports shown under “loans (external commercial borrowings) to India” in the capital account. Definitionally. Earlier. software services. payments of interest on debentures. The economic value that is lacking on one side has to be balanced by an entry which is referred to as unrequited transfers. The IMF classifies transfers as ‘current transfers’ and ‘capital transfers’.residents. reinvested earnings of the FDI companies. Based on the recommendations of a high-level committee in their Reports of Policy Group and Task Force on External Debt Statistics of India. Current transfers include those of general government (eg. FRNs. As may be observed from these disaggregated data. floating rate notes (FRNs). taxes. payments of current taxes on income and wealth. workers remittances. interest received on debentures. reinvested earnings of Indian FDI companies abroad. the RBI has published such statistics separately for the period 1956-57 to 1998-99 in its monthly bulletins of March and April 1992 and in its comprehensive publication Balance of Payments: 1948-49 to 1988-89 (July 1993). CPs. Due to non-availability of data. India has now begun to provide many more details. in accordance with the IMF’s Balance of Payments Manual (5th edition). fixed deposits. it is shown as a separate sub-item under ‘Miscellaneous’ since 2000-01. grants. 1992. under the head ‘income’ with effect from 1997-98. earlier income consisted only of investment income whereas now one more sub-category ‘compensation of employees’ is added. diplomatic missions and international/ regional institutions.) and other transfers (eg. attempts have been made to cull out more disaggregated data on invisibles from the above studies which are presented in eight separate sets in Appendix Tables 2(A) to 2(H). payment of dividend/profit to non-resident shareholders. fixed deposits and funds held abroad by ADs out of foreign currency loans/export proceeds. premiums-less service charges). Transfers basically represent receipts and payments without quid pro quo. The term ‘transfers’ is used in India’s Balance of Payments in the same sense as unrequited transfers. this practice has been continued thereafter on an annual basis. Finally. and claims on non-life insurance. Government not included elsewhere represents remittances towards maintenances of foreign embassies. construction services. payment of interest on loans from non. government securities. copyrights and licence fees. the RBI is unable to provide such segregation into current and capital transfers. interest payments on defense debt owed to the general currency area (GCA) are recorded under investment income (debit) and principal repayments under debit to “Loans (external commercial borrowings) to India”. where one transactor provides something of economic value to another but doesnot receive a quid pro quo on which economic value can be assigned in return. Investment incometransactions are in the form of interest. Unrequited transactions are transations such as gifts. 1993. instead it has segregated transfers into private and official. dividend. the Indian practice was to record ‘compensation of employees’ under the head ‘servicesmiscellaneous’. Investment income payments comprise payment of interest on non-received deposits. current international cooperation between different governments. etc.

The portfolio investment5. The principal repayment of the defense debt to the General Currency Area (GCA) is shown under the debit to loans (external commercial borrowing to India) for the general currency area since 1990-91. which would constitute part of the items transportation and insurance. which are further classified into external assistance. while the Indian classification of current transactions is found to be fairly comprehensive. covered foreign investments (both direct and portfolio). The FDI in India could be in the form of inflow of investment (credit) and outflow in the form of disinvestments (debit) or abroad in the reverse manner. with loans of original maturity of one year or less constituting the relevant dividing line. (ii) Loans. The IMF classification places this under a separate item called ‘other goods. data on insurance and freight on imports. long-term loans. (ii) banking capital. RBI puts out data on NRI deposits under different categories of deposits (Appendix Tables 4A and 4B). whereas the IMF publishes such data under the head ‘other foreign official. medium and long-term commercial borrowings and short-term borrowings. on the other had. has dovetailed the accounting classification to fit into its own institutional structure and analytical needs. Capital Account Though the IMF manual distinguishes a large number of items under the capital account. as published in the regular BOP data. (iii) Banking capital comprises external assets and liabilities of commercial and government banks authorized to deal in foreign exchange. from 1990-91 onwards. In FDI. In the data base created here. offshore funds and Global Depository Receipts (GDRs) and American Depository Receipts (ADRs). 1999) has been included as part of foreign direct investment since January 1996. other than those with the IMF and movements in RBI’s holdings of foreign currency assets and monetary gold (SDRs are held by the government). RBI. and NRI investments (See Appendix Table 3B). as in the case of many other countries. some loss of information in it relating to the following items is noticed: (i) As explained earlier. Banking capital essentially covered movements in the external financial assets and liabilities of commercial and co-operative banks authorised to deal in foreign exchange. Such income is recorded as a component of foreign investment income payment in the current account matched by the flow of foreign investment in the capital account. Until the end of the 1980s. and movement in balance of foreign central banks and . Likewise. (ii) Under the Indian classification. comes in the form of Foreign Institutional Investors (FIIs). statistical series on BOP for the period 1950-51 to 1989-90 are in this format (See Appendix Table 1A).Balance of Payments 4 investor in the same resident direct investment enterprise. Official capital transactions. India. are in fact included under merchandise. The data on acquisition of shares (acquisition of shares of Indian companies by non-residents under section 5 of FEMA. the classification adopted is as follows: (i) Foreign investment. foreign currency deposits (FCNR and NRE) and an estimated portion of the unclassified receipts allocated to capital account. Even so. there are three sources of approvals: government [Secretariat of Industrial Approvals (SIA) and Foreign Investment Promotion Board (FIPB)]. NIE’ even for India separately. Independent data published by the RBI give disaggregation of FDI by approval categories and that of portfolio investments by types of flow. and (iii) official capital. For the subsequent period. Long-term private capital. services and income’. were classified into (i) loans. key sectors distinguished under the capital account were: (i) private capital. (ii) amortisation. Expenditures of diplomatic missions in India or those of Indian missions abroad are not presented separately in the Indian data. transactions relating to the life insurance business of the Life Insurance Corporation of India or those relating to the general insurance business of the Indian general insurance companies abroad for domestic hazards in those countries are clubbed under the item insurance which also covers the insurance of merchandise trade. Private capital was sub-divided into (i) long-term and (ii) short-term. which is bifurcated into Foreign Direct Investment (FDI) and portfolio investment. with loans of original maturity of one-year or less constituting the relevant dividing line. and (iii) miscellaneous receipts and payments.

‘Other Capital’ by Indian companies abroad and equity capital of unincorporated entities have been adjusted against ‘errors and omissions’ for 2000-01 and 2001-02. (iv) Rupee debt service contains interest payment on. Furthermore. however. FDI to and by India up to 1999-2000 comprised mainly equity capital. external commercial borrowings and ‘errors and omissions’. 1999. India’s subscriptions to international institutions and quota payments to IMF. reinvested earnings (retained earnings of FDI companies) and ‘other direct capital’ (inter-capital debt transactions between related entities). institutional character of the Indian creditor/debtor formed the dividing line for capital account transaction. which covers export receipts. The compilation is thus done on the basis of such statistical returns submitted by ADs to the RBI. These changes relate to investment income. 1973 by the Foreign Exchange Management Act (FEMA). The composition of BOP. would undergo changes. In terms of standard practise of BOP compilation. there is a contra-entry (payments) of equal magnitude under investment income in the current account. was varied from time to time. These R return schedules. and (ii) the authorised dealers (ADs) are required to submit various returns to the RBI on those transactions (RBI 1987). and principal re-payment of.000 AD branches in electronic form. funds raised and held abroad by Indian corporate. (vi) Movement in Reserves comprises changes in the foreign currency assets held by the RBI and SDR balances held by the government of India. In view of the above revision. including the supplementary statement of receipts. Data on equity capital include equity of unincorporated bodies. whereas now it is the functional nature of the capital transaction that dominates the classification. ‘Other Capital’ reported as part of FDI inflow has been carved out from the figure reported under external commercial borrowings by the same amount. II Sources of BOP Data The compilation of BOP data are considerably facilitated by two important prescriptions under foreign exchange regulations. An important component of banking capital is non-resident (NRI) deposits. which are a universal feature in the governance of transactions in foreign exchange. import payments. for nonmerchandise transactions are now obtained from about 2. and also non-merchandise transactions (current and capital) beyond a cut-off limit. debt for the erstwhile rupee payments area (RPA). Sterling. besides equity capital. These are recorded after excluding changes on account of valuation. Yen and others) held in reserves. All of the . It also includes rupee value of gold acquisition by the RBI (monetization of gold). FDI data are not comparable with similar data for the previous years (Appendix Table 3C).000 and above thereafter. IDA. the above revision of FDI data would not affect India’s overall position as the accretion to the foreign exchange reserves would not undergo any change. Delayed export receipts essentially arises from the leads and lags between the physical shipment of goods recorded by the customs and receipt of funds through banking channel. and which therefore have continued in India even after external sector liberalisation and replacement of the Foreign Exchange Regulation Act (FERA). ADB and IFC maintained with RBI. In case of reinvested earnings. Reinvested earnings for the latest year (2003-04) are estimated as average of the previous two years as these data are available with time-lag of a year. The most important return is the well-known R returns. Valuation changes arise because foreign currency assets are expressed in US dollar terms and they include the effect of appreciation/depreciation of non-US currencies (such as Euro. the coverage of FDI has been expanded since 2000-01 to include. this item does not include reserve position with IMF. this cut-off limit prescribed for the supplementary statement of receipts in respect of purposes other than exports. In line with international best practices.) (v) Other capital is a residual item and broadly includes delayed exports receipts. it was Rs 1 lakh and above for some time up to January 2001 but was raised to $ 10. The prescriptions are: (i) all foreign exchange transactions are required to be channelled through the banking system. (This is done based on the recommendation of high-level committee on balance of payments.5 Balance of Payments international institutions like. World Bank. As per the earlier classification.

India was committed to compile the IIP for the period ending March 2002. Detailed dissemination of FDI inflows by sectors and by projects is needed. items dealt with directly by the government such as defence-related purchases and other official transactions. RBI was conducting sporadic studies on currency-wise pattern of exports and imports and invisibles. according to which. and (iii) information. Now. the Indian government has accepted Special Data Dissemination Standards (SDDS)6 prescribed by IMF in the aftermath of the financial crisis of 1997-98. the Secretariat of Industrial Approvals (GoI) publishes in their SIA Newsletter (monthly) census list of FDI approvals with brief details on individual proposals and some consolidated data on actual inflows. Apparent gaps in balance of payments data: (i) (ii) (iii) (iv) As pointed out earlier. particularly on imports.000 now (about Rs 50. In addition. Earlier this survey of foreign assets and liabilities was periodically undertaken to fill the gap in the capital transactions of the private sector.112). through fortnightly section 42(2) returns of banks. a phenomenon in the external trade statistics of India has been the significant divergence between the merchandise transactions. Apart from valuation and timing differences as between the customs data based on the shipment of goods and the booking of. that is. As repeatedly reported by the RBI. RBI may attempt publishing similar data on the progress achieved in actual inflow of FDI and technical collaborations. (ii) a BAL statement on balances in NRE deposit accounts. Finally.000). The advisory group on data dissemination had in fact highlighted this requirement. which has finally culminated into a more comprehensive survey on international investment position (IIP). London and Tokyo). along with ‘individual profiles’ for major cases of inflows and projects under implementation. whereas Indian BOP is generally reported under 7 heads. a sample survey of unclassified receipts is undertaken on a quarterly basis. there are three more other sources which supplement the above BOP data: (i) a foreign currency gross provisional return (FCGPR) on capital account transactions including all investment flows. the IIP. only total amount is given.Balance of Payments 6 R returns data cover forex transactions including their purpose-wise classification up to and above the cutoff limit referred to above. and direct investors’ portion of reinvested earnings. to capture such purpose-wise classification in respect of the balance of forex transactions below the cutoff limit of $10. amongst others. and for the transactions below the limit. say. Under the SDDS. IMF publications classify data on invisibles under 15 heads. data on a number of what are called non-R return items. on their Nostro balances (normally in credit) and Vostro balances (normally in debt). BOP classification may be expanded (Exhibit IA). ‘has become the focus of attention on account of its comprehensive coverage and the feasibility of assessing the impact of policies on the composition of capital flows’ (RBI’s Annual Report. p. Now that the RBI has begun collecting substantially more disaggregated data. there is yet another class of surveys on India’s ‘foreign liabilities and assets’. Therefore. Currently. 2002-03. Difference between RBI balance of payments data and customs data. are supplemented from government sources and major diplomatic missions abroad (Washington. this survey was also used to obtain data on direct investment flows on a non-cash basis such as shares allotted to non-residents against import of plant and equipment or against technical know-how fees. It is hoped that these will be continued and that an analysis of the available data may be undertaken more regularly such as once in two years. Thirdly. there is the need to present import data in fob terms and thus give the valuesof freight and insurance under invisibles more accurately. as revealed by the customs 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). Accordingly. annual IIP of India for the years March 1997 to March 2002 have been placed on RBI’s website. .

manuscripts. Services.i. Insurance Miscellaneous Category 2 under Services as per IMF specification.10 under Services as per IMF specification. Yearbook. Covers travel for business or personal purpose. insurance). professional. Include intermediary service fees associated with the line of credit.n. Include services associated with the production of motion pictures on films or video-tape. other benefits in cash or in kind of border. and miscellaneous business.7. Categry 5 under Services as per IMF specification. images. salaries. cultural and recreational services Government services n. Categry 1 under Transfers as per IMF specification. operational leasing services. Balance of Pyments Statistics.6. franchises due to the use of produced originals such as films. Source: IMF. 7 8 9 10 11 Official transfers Private transfers 1 2 Brief Description Includes sea transport and air tranport and other transport for passenger and freight traffic. 1984 Note: Transfers:- Investment income Computer and information services 6 2 Financial services 5 Compensation of employees Insurance services 4 1 Communication services 2 3 Income:- Travel Construction services 1 Nomenclature Transportation No. Includes cateory 3. Cover receipts/payments due to sale of trademarks. Cover the provision of insurance to non-residents by resident enterprises covering freight and direct insurance (life. Category 1under Services as per IMF specification.i. It also covers commisssions related to transactions in securities. Include telecommunications in turn including transmission of sound. technical services. seasonal and non-resident workers in embassies Consists of direct and portfolio income. patents. payments of current taxes on income and wealth Includes workers remittances. Volume 35. Indian Classification of Invisibles The recording of transportation and insurance transactions on a gross basis and their reclassification from merchandise to invisibles form part of the ongoing efforts to refine and disaggregate the balance of payments statistics. hardware consultancy. Category Services:- I . Cover work performed on construction projects and installations by employees of an enterprise in locations outside the economic territory of the enterprise.9.8.e. IMF Classification of Invisibles EXHIBIT A: ESTIMATION OF INVISIBLE ACCOUNTS . copyrights.A COMPARISON OF RBI CLASSIFCATION WITH THE IMF CLASSIFICATION (IMF BOP Manual) 7 Balance of Payments . data processing. Include computer data and news-related service transaction covering data bases. radio and television programmes Covers services associated with government sectors or international or regional organisations and not classified elsewhere. Nomenclature Brief Description Categry 11 under Services as per IMF specification. health etc. Categry 1 and 2 under Income as per IMF specification. Covers wages. other information by various modes and their maintenance and postal and courier services.4. G.e.Royalties and licence fees Other business services Personal. Part I. leasing etc. claims on nomn-life insurance etc. and other income Includes current international cooperation between governments. Private transfers Official transfers Income Categry 2 under Transfers as per IMF specification. accident. Travel Transportation II.

Nie. 5 and 6 7 and 8 9 and 10 11 and 12 13 and 14 15 and 16 17 and 18 19 and 20 21 and 22 This should cover value of services obtained/ rendered under aid programmes which are financed by grants and which has a contra entry under item no 39 below. This includes some transfers to resident governments like taxes from non-residents (like foreign company registration fees) or on the debt side official transfers to private entities abroad like pension payments. Nie Other resident official. On the receipts side. other goods. Debits include actual grant figures. for instance) Brief Description I . Also personal remittance by persons employed under technical assistance. Receipts/payments for patents and royalties.e all non-merchandise insurance and non-trade services obtained from abroad.i. IMF Classification of Invisibles Shipment Nomenclature 3 and 4 Item Nos. this section covers distributed earnings of foreign controlled companies or profits remitted in the case of branches or interest payments made to principals.Passenger services Port services Travel Re-invested earnings on direct investment abroad Other direct investment income (distributed earnings) Other investment income of resident official. IMF Classification of Invisibles Property income. including interofficial Other investment income of foreign official excluding interofficial Other investment income (private to private) Inter-official. pensions and scholarships. Nie Nomenclature 37 and 38 35 and 36 33 and 34 31 and 32 29 and 30 27 and 28 25 and 26 23 and 24 Item Nos.e. paymnts by private individuals and organisations to foreign governments (foreign social security institutions) and consular and visa-fee payments. This includes earnings of branches of foreign companies unremitted (including banking companies) Tourists and other temporary visitors’s foreign exchange expenditure Bunkers. Covers: (i) Dividends on portfolio investment income in equities (ii) Interest earned/paid on bank deposits (iii) Debentures and other debt securities (iv) This item also covers interest paid on foreign debt by public enterprises and also corporations whose debt is guaranteed by local governments Foreign official interest income paid to a nonofficial organisation (credit) and a private organisation paying interest to a foreign official organisation (debit) this should include interest income receivable on foreign currency assets held abroad and also interest paid on foreign debt held by government and government owned public utilities and agencies. Nie.e. Remittance received /paid from/for temporary migrants abroad other than those seeking employment or initial arrivals This will cover: (i) value added from re-exports (ii) local expenses of offshore companies (iii) motion picture film rental and management fees (iv) net transactions from life insurance corporations i. Other resident official. also cancellation of debt is included in this item. for temporary employment. etc. on the debit side.A COMPARISON OF RBI CLASSIFCATION WITH THE IMF CLASSIFICATION (IMF BOP Yearbook) Balance of Payments 8 . A miscellaneous category (like sale of embassy buildings. (Credit and Debit) EXHIBIT B: ESTIMATION OF INVISIBLE ACCOUNTS .e. services and incomes. contra-entries for all grants for technical assistance. (Credit and Debit) Other transfers of resident official Other transfers of foreign official 43 and 44 Interofficial transfers 39 and 40 41 and 42 Other private transfers Worker’s remittances Migrants‘ transfer (Contd) This covers claims received from foreign social security institution. Personal income earned/ remitted in respect of workers who stay outside the country of their residence for less than one year I. n. Personal remittances of a special nature such as pensions and social security receipts/payments and all gilts Remittance of workers I. Share of undistributed earnings of companies with foreign shareholdings. and repair services at ports and airports Passenger fares Freight and insurance charges on exports and inports Brief Description I . supplies of jet fuel. Nie Labour income. those who are for regular employment but either than those in business. IMF and ADB. All foreign embassy receipts and payments for diplomatic missions abroad including expenditures incurred by UN agencies and the agencies like the World Bank.

Balance of Payments Statistics.Item numbers 3 and 4 (insurance component only). 23 and 24.i. Income : Corresponding Item Nos in above IMF Classification Nomenclature II. 14 . 17and 18 and 19 and 20 Item numbers 27 and 28 Item numbers 3 and 4 (freight component only) and also 5 and 6 (passenger fares) and item numbers 7 and 8 (port services) 2 Transportation Investment Income Item numbers 9 and 10 (including the relevant share from unclassified receipts 1 Travel 4. 1984 (ii) Private (I) Official Item numbers 21 and 22. 35 and 36. 39 and 40. 37 and 38.15 and 16.A COMPARISON OF RBI CLASSIFCATION WITH THE IMF CLASSIFICATION (IMF BOP Yearbook) (Concluded) 9 Balance of Payments . Source: IMF. Miscellaneous 7 Transfer Payments Item numbers 23 and 24 and 25 and 26 5 Government N. 41 and 42 and 43 and 44 Item numbers 33 and 34. Compensation to employees Item numbers 11 and 12. RBI Classification EXHIBIT B: ESTIMATION OF INVISIBLE ACCOUNTS . 13. Yearbook. Volume 35. Item no 29 and 30 6. Part I.e.This item also includes surplus funds received by Indian Insurance companies from abroad (Item numbers 31 and 32) 3 Insurance Note: The recording of transportation and insurance transactions on a gross basis and their reclassification from merchandise to invisibles from part of the ongoing efforts to refine and disaggregate the balance of payments statistics.

Besides. the rest of the world. However. the table on ‘rest of the world account’ provides data on (a) compensation of employees from. As the data in text Table 1 shows. . the differences between the two sources have got widened. RBI data have a lead in payments in regard to imports under external assistance and commercial borrowings as the RBI records them when the payments are made to suppliers while the DGCI and S data cover them when the goods arrive in the country in accordance with the recommendations of the report of the technical group on reconciling balance of payments and DGCI and S data sources on merchandise trade. depicts a profile of end-year foreign exchange reserves including annual transactions with the IMF. A few special tables amongst them give further details of some important sub-categories of invisibles and capital transactions. Apart from exports and imports of goods and services. Crore) Exports DGCI and S (1) 1980-81 1981-82 1982-83 1983-84 1984-85 1985-86 1986-87 1987-88 1988-89 1989-90 1990-91 1993-94 1994-95 1995-96 1996-97 1997-98 1998-99 1999-00 2000-01 2001-02 2002-03 2003-04 (2) 6711 7806 8803 9771 11744 10895 12452 15674 20232 27658 32558 69751 82674 106353 118817 130101 139753 159561 203571 209018 255137 291582 RBI (3) 6666 7766 9137 10169 11959 11578 13315 16396 20647 28229 33153 71146 84329 108481 121194 132703 144436 165993 205287 214351 254022 288769 Imports Difference (2-3) (4) 45 40 -334 -398 -215 -683 -863 -722 -415 -571 -595 -1395 -1655 -2128 -2377 -2602 -4683 -6432 -1716 -5333 1115 2813 DGCI and S (5) 12549 13608 14293 15831 17134 19658 20096 22244 28235 35328 43193 73101 89971 122678 138920 154176 178332 215236 230873 245200 297206 353976 RBI (6) 12876 14260 15856 17093 18680 21164 22669 25693 34202 40642 50086 83869 112749 146542 173753 190508 199914 240112 270663 274778 316450 365641 Trade Balance Difference (5-6) (7) DGCI and S -327 -652 -1563 -1262 -1546 -1506 -2573 -3449 -5967 -5314 -6893 -10768 -22778 -23864 -34833 -36332 -21582 -24876 -39790 -29578 -19244 -11665 (8) -5838 -5802 -5490 -6060 -5390 -8763 -7644 -6570 -8003 -7670 -10635 -3350 -7297 -16325 -20103 -24075 -38579 -55675 -27302 -36182 -42069 -62394 RBI (9) -6210 -6494 -6719 -6924 -6721 -9586 -9354 -9297 -13555 -12413 -16933 -12723 -28420 -38061 -52559 -57805 -55478 -74119 -65376 -60427 -62428 -76872 Difference (8-9) (10) 372 692 1229 864 1331 823 1710 2727 5552 4743 6298 9373 21123 21736 32456 33730 16899 18444 38074 24245 20359 14478 Sources : Various issues of RBI Bulletin III An 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 balance of payments for about 54 years since 1950-51. A separate table presents ‘rest of the world account’ transactions as tabulated by the Central Statistical Organisation (CSO) in its National Accounts Statistics (Appendix Table 6). it is quiet likely that leads and lags between shipments and payment receipts may have also got widened. and to. A few analytical tables such as the one on financing of current account deficit (Table 3) and another on selected indicators of BOP (Table 4) are also presented as text tables. the rest of the world. They make an attempt to provide a perspective of macro analysis that is possible of BOP statistics. The objective of this note is to present these data for use by research scholars and others and not to provide any detailed analysis. particularly in the latter half of the last decade when defence purchases seems to have got expanded. and to. while the RBI data cover the same as and when these imports are paid for. Data on gold and silver brought in by the Indians returning from transfer receipts since 1992-93 abroad have been included under import payments with contra entry under private transfer receipts. and (b) property and entrepreneurial income similarly from.Balance of Payments 10 imports on payments basis. Table 1: India’s Foreign Trade : A Comparison of DGCI & S and RBI Data (Rupees. a major cause for the difference in merchandise imports is that customs (DGCI and S) data do not cover import of defence stores including defence equipment. A text Table 2.

It has grown from about 2. of course. it is revealed that inclusive of exports of services. in REER terms. Although the physical trade to GDP ratio has not shown Graph 1 Export and Import as Percentage of GDP 30 25 Percentage 20 15 10 5 30 25 20 15 10 5 2003-04 2001-02 1999-00 1997-98 1995-96 1993-94 Years Total Merchandise as % to GDP 2003-04 2001-02 1999-00 1997-98 1995-96 1993-94 1991-92 1989-90 1987-88 1985-86 1983-84 1981-82 1979-80 1977-78 1975-76 Graph 3 Financing CAD 80000 70000 60000 50000 30000 20000 10000 2002-03 2000-01 1998-99 1996-97 1994-95 1992-93 1990-91 1988-89 1986-87 1984-85 1982-83 1980-81 1978-79 1976-77 1974-75 1972-73 1968-69 1966-67 1964-65 1962-63 0 -10000 1960-61 Rs Crore 40000 1970-71 1991-92 1989-90 1987-88 1985-86 1983-84 1981-82 1979-80 1977-78 1975-76 1973-74 1971-72 1969-70 1967-68 1965-66 1963-64 0 1961-62 Imports as % to GDP any significant expansion in the second half of the 1990’s.11 Balance of Payments opportunity is taken to make a few observations on what these mass of data reveal essentially as a lead for their users. 1971-72 1969-70 1967-68 1965-66 1963-64 1961-62 0 -20000 Years External assistance Commercial Borrowings Foreign Investments NRI Deposits . it was around 2 per cent during the high investment phases of the second and third five-year plan periods (1956-57 to 1965-66) and also during the decade of the 1980s. On the other hand. For over three decades.8 per cent in 200304. Earlier. the rise in the ratio of goods and services to GDP has been much sharper. Further. Interestingly. As percentage of GDP. exports of services as percentage of GDP has witnessed a more rapid and continuous rise.5 per cent for about two decades until the early 1990’s to 5 per cent in 1995-96 and to 8. Significantly. from about a range of 8-9 per cent to 18-19 per cent. First. the ratio has significantly improved in this millenium. merchandise exports had constituted around 4 to 5 per cent of GDP but this has jumped to about 8 to 9 per cent in the 1990s (Table 4 in the text) and over 10 per percent in the latest two years. such a surplus was experienced in the mid-1970s when the national economy had similarly experienced an investment famine. Secondly. there has arisen a current account surplus.5-3. there has occurred a quantum leap in the proportion of India’s exports in GDP. the rise in export earnings has been accompanied by similar sizeable increase in imports as percentage of GDP. the most commendable feature being that the growth in exports of both goods and services have come about despite around 8 per cent appreciation of the rupee against the dollar in these two years. which has continued has continued till the first quarter of 2004-05. the current account deficit – a crucial macro economic indicator – has faced Graph 2 Percentages 1973-74 Years Exports as % to GDP Total Merchandise as % to GDP a chequered trend. there has not been any change in the value of the rupee. the 1990s in particular have shown the lowest relative current account deficit so much so that by 2001-02.

Balance of Payments Statistics (various yearbook volumes) See RBI. Economic and Political Weekly.0 flows [Appendix Tables 3A. The years when the reserves formed more than three months’ import requirements. it is: “ International Reserve. But.o.0 importance of various sources of finance in this respect. the country’s foreign exchange Forex Reserves Import Cover reserves had generally remained low after the sterling balances were brought down in the early phase of planning. the recessionary conditions have not been as severe as in.] 1 2 3 4 5 6 International Monetary Fund. . it is the phenomenal expansion in foreign currency assets in the 1990s that stands out. 0 = nil or negligible . and higher capital flows . 3B and 3C] and NRI deposits (Appendix Tables 4A 10000 2. were periods of considerable recessionary conditions in Indian industry. there has Import Cover occurred a significant change in the relative 60000 12. Portfolio investment mainly includes FIIs’ investment. NR(E)RA = Non-Resident (External) Rupee Account 4. in the financing of current Graph 4 deficit (text Table 3 and Graph 3). 1993. Not only have there been no IMF borrowings (in fact all repurchase obligations have been cleared). insurance and freight. Rema K.0 NRI deposits and commercial borrowings. again. = Denotes data not available separately and has been clubbed elsewhere. in the 1970s.0 Finally. rapid increases in private inward remittances.all of which could not probably have been absorbed even if the tempo of investment was stepped up. The same phenomena of recession as well as IMF and other exceptional drawings were prevalent in the early 1990s. hitherto reported. Separate information provided on the first two items of investment 20000 4. While the role of external 50000 10.i. 2003..0 assistance has declined in the 1990s. A detailed note on the SDDS has been published by the EPW Research Foundation (2003) .in Mrs. FCNR (A) = Foreign Currency Non-Resident (Accounts) . FCNR (B) = Foreign Currency Non-Resident (Banks) 5. = free on board c.b. In fact. 2. Notes [Acknowledment: An original note on the subject was published in the Economic and Political Weekly (EPW) of November 13-20. in the early 1980s the reserves were also supported by the IMF drawals. funds raised through GDRs/ADRs by Indian companies and through offshore funds. 0 0. September 30. Nair undertook page-making. See International Monetary Fund.cost. the increases in reserves that have occurred after 1995-96 or thereabout are of a different genre. See Reserve Bank of India (1987). 30000 6. above all. Balance of Payments Manual. inflows have been quite sizeable as a result of reduced merchandise deficits. f. Foreign Currency Liquidity and External Debt: Data template”. thereafter the foreign exchange reserves began to rise. as in the 1970s and the early 1980s.res. Fourth Edition.0 and 4B) speak of their importance in absolute numbers. Balance of Payments Compilation Manual. the main constitutents of BoP and source of data used. The same has been thoroughly revised and updated by Ms. Shilpa Jain for publication on the website www. October. 1971.op cit. the importance of private investment flows. pp 21-22.Balance of Payments 12 2001-02 Thirdly.f. The following symbols have been used throughout the article. for instance. 3. The Reserve Bank of India has compiled and published its own manual setting out the concepts and methodology. have been split into equity capital and portfolio investment since 2000-01. = data not available -.epwrf. Symbols and Abbreviations 1. As indicated in the Years text Table 2. Data on investment abroad. 1987.0 has increased. 40000 8.

5 4.2 2.0 10.2 4.6 2.0 3.4 15.5 4.1 3.6 4.0 7.4 4.1 4.5 14.2 7.8 5.SDRs (2) 92 112 194 226 230 229 211 192 170 381 545 497 444 291 248 181 161 232 Year (1) 1950-51 1951-52 1952-53 1953-54 1954-55 1955-56 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 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 Foreign Currency Assets 118 118 118 118 118 118 118 118 118 118 118 118 118 118 134 116 183 183 183 183 183 183 183 183 183 183 188 193 220 225 226 226 226 226 246 274 274 911 747 763 792 774 785 563 303 261 245 186 180 177 188 116 182 296 356 394 546 438 480 479 581 610 1492 2863 4500 5220 5164 4822 3355 4265 5498 6817 7384 7645 (In Rs Crore) (3) (4) Gold 1029 865 881 910 892 903 681 421 379 363 304 298 295 306 250 298 479 539 577 821 733 857 888 994 1022 1886 3243 4863 5821 5934 5545 4025 4782 5972 7243 7819 8151 (5) Total 123 148 269 297 296 293 234 217 200 470 662 603 473 291 230 145 131 179 (6) SDRs Foreign Currency Assets 247 247 247 247 247 247 247 247 247 247 247 247 247 247 281 243 243 243 243 243 243 264 293 293 304 281 290 319 377 375 370 335 324 320 325 417 471 1914 1568 1603 1664 1626 1648 1184 637 548 515 390 377 372 395 243 383 395 475 526 728 584 661 629 736 782 1657 3240 5305 6421 6324 5850 3582 4281 5099 5482 5972 5924 (In US Dollar Million) (7) (8) Gold 2161 1815 1850 1911 1873 1895 1431 884 795 762 637 624 619 642 524 626 638 718 769 1094 975 1194 1219 1325 1379 2172 3747 5824 7268 7361 6823 4390 4896 5649 5952 6520 6574 (9) Total Repurchases 17 17 7 6 24 11 61 24 48 36 43 43 59 125 153.7 18.7 3.8 303 249 207 55 $ 5 $$ 72(a) 156(b) 253 c) 672(d) (In Rs Crore) (11) 61 35 119 12 48 66 89 68 62 485 207 274 @ 637@@ 1893@@ 1414@@ 219@@ - (10) Drawings 48 48 48 30 13 6 61 95 95 71 61 119 131 107 107 137 313 338 279 154 59 557 804 492 210 268 901 2867 4444 4888 5285 5548 (12) 126 72 249 25 99 137 126 89 79 608 239 342 692 1968 1376 201 - (13) OutDrawings standing Repurchase Obligations 36 36 15 12 50 23 127 50 100 75 57 58 78 167 205 336 333 256 145 16 40 70 134 209 521 100 100 100 64 28 13 128 200 200 150 128 250 275 225 225 288 418 450 372 205 75 715 896 559 249 327 964 2876 4150 3932 4290 4291 (In US Dollar Million) (14) (15) RepurOutchases standing # Repurchase Obligations Transactions with the IMF Table 2: Foreign Exchange Reserves : 1950-51 to 2003-04 Foreign Exchange Reserves (16) - Reserve Position in the Fund (Contd) 19.9 2.8 16.4 3.9 6.3 5.1 2.9 4.4 (17) Reserves in terms of no of months of Imports 13 Balance of Payments .2 7.0 5.4 2.9 9.4 9.1 4.5 3.2 4.4 4.7 3.3 3.

1991. 199 crore) and sales of Rupees by the IMF under its general Resource accout (Rs.25 million were used for repurchases of drawals under EFF.25 million were used for repurchases of drawals under EFF. (o) SDR 499. (n) SDR 678.53 crore under Trust Fund. 544. October 17. Drawals under Extended Fund Facility(EFF) of Stand-by Arrangement Drawals of Rs.125 161 184 200 233 55 339 23 280 7 4 34 16 11 50 19 10 1987-88 1988-89 1989-90 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 2003-04 274 274 281 6828 9039 10549 12794 13752 15658 14557 13394 12559 12973 12711 14868 16785 18216 7287 6605 5787 4388 14578 20140 47287 66005 58446 80368 102507 125412 152924 184482 249118 341476 466215 7686 7040 6252 11416 23850 30744 60420 79780 74384 94932 115905 138005 165913 197204 264036 358280 484441 (5) Total 97 103 107 102 90 18 108 7 82 2 1 8 4 2 10 4 2 (6) SDRs Foreign Exchange Reserves Foreign Currency Assets (In Rs Crore) (3) (4) Gold Foreign Currency Assets 508 473 487 3496 3499 3380 4078 4370 4561 4054 3391 2960 2974 2725 3047 3534 4198 5618 4226 3368 2236 5631 6434 15068 20809 17044 22367 25975 29522 35058 39554 51049 71890 107448 (In US Dollar Million) (7) (8) Gold 6223 4802 3962 5834 9220 9832 19254 25186 21687 26423 29367 32490 38036 42281 54106 75428 111648 (9) Total Repurchases 1209(e) 1547(f) 1460(g) 1156(h) 1127(I) 868(j) 420(k) 3585(l) 5749(m) 3461(n) 2286(o) 1652(p) - 4732 3696 2572 5132 8934 14986 15812 13545 8152 4714 2624 1220 - (12) 1858 1240 1623 325 - (13) 930 1070 873 647 460 335 134 1146 1710 977 615 102 - 3653 2365 1493 2623 3451 4799 5040 4300 2374 1313 664 287 - (In US Dollar Million) (14) (15) RepurOutchases standing # Repurchase Obligations Transactions with the IMF OutDrawings standing Repurchase Obligations (In Rs Crore ) (11) 3334 & 3205@@ 4231 1007 - (10) Drawings 633. Notes: 1) Figures after 1965-66 are not comparable with those of the earlier years owing to devaluation of th rupee in June 1966. (m) SDR 237. Sources: Government of India. 2) Also figures for July 1991 are not comparable with those of earler periods due to the downward adjustment of the Rupee effected on July 1 & 3.e. Excludes Rs.8 2. Repurchase and Outstanding repurchase Obligations are calculated at the ruling rates of exchange.2 crore under Compensatory and Contingency Financing Facility and Rs.SDR 59. Additionally. (l) SDR 337.3 4.2 8.2 11. 987.6 8. (d) SDR 431.0 296 299 331 310 291 283 663 658 616 610 672 1311 (16) Reserve Position in the Fund 3. Crore) denotes nil. 7) Import cover is arrived at by dividing total reserves with imports (both in $ million) and multiplying the result by 12.18 million were used for repurchases of drawals under EFF.9 8.5 million in March 1982 were used for repurchases of Rupees.39 per 10 grams of gold up to September 1990 and closer to international market price w.58 per 10 grams up to May 1966 and at Rs.49 million were used for repurchases of drawals under EFF.9 8.0 6. of drawals under CFF. 5) Foreign Exchange includes a) Foreign assets of the Reserve Bank of India b) Government balance held abroad up to 1955-56.9 2.49 million were used for repurchases of drawals under EFF. (p) SDR 212. 53.5 671. Annual Report (various issues) (2) (1) -’ : @ @@ && $ $$ # (a) (b) SDRs Year Table 2: Foreign Exchange Reserves : 1950-51 to 2002-03 (Concluded) Balance of Payments 14 . under CFF and EFF respectively.5 5.5 crore under First Credit Tranche of Stand-by Arrangement Includes voluntary repurchases of Rupees (Rs.4 6.49 million were used for repurchases of drawals under EFF. repurchases are for the relevant period.49 million were used for repurchases of drawals under EFF.0 (17) Reserves in terms of no of months of Imports (Rupees.3 13.1990.4 1. 35.85 crore in foreign currencies were used for repurchases (i) SDR 337. (g) SDR 681. (f) SDR 804.5 million and SDRs 131.25 million were used for repurchases of drawals (k) SDR 95.f.2 8.38 million were used for repurchases of drawals under EFF. 6) While reserves pertain to end period. SDR 33.17 million were used for repurchases of drawals under EFF.29 million were used for repurchases of drawals under EFF.9 million in May 1979.8 17.75 million were used for repurchases of drawals under EFF. 4) Gold is valued at Rs.25 million and Rs. Economic Survey (various issues) and RBI.9 million in July 1980 and SDR 34. (c) SDR 66. SDR 34. 84.6 630.84 million were used for repurchases of drawals under EFF. (h) SDR 468. SDR 59.46 million were used for repurchases of drawals under EFF. 2217.2 crore) Sales of Rupees by the Fund. (j) SDR 237. 117. (e) SDR 704.5 6.5 million were used for repurchases of dawals under Compensatory Financing Facility. 3) Drawals.

1 66.7 10.9 2.6 85.5 93.6 9.7 28.8 (4) Percent of CAD 1804 1198 933 1360 1651 1553 1137 872 663 758 735 684 830 1027 966 560 622 446 396 274 257 187 226 115 30 9 1 2 35 60 8 (5) Drawals External Assistance 691 542 478 478 381 334 283 407 286 249 231 215 185 195 144 85 78 57 53 60 38 12 7 79** 3 4 11 11 13 13 13 (6) Repayments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 199 44 164 34 163 231 156 72 54 10 16 (7) Net -9 -8 -69 3 18 -130 -16 6 -17 -2 -4 - - - - - - - - - - - - - - - - - - - - (8) Percent of CAD 316 115 253 116 235 291 195 102 77 30 27 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (9) Drawals Commercial Borrowing 117 71 89 83 72 60 40 29 23 21 11 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (10) Repayments Financed by 178 162 156 200 167 36 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (11) Net 8.3 16.7 8.8 12.6 8.7 20.3 103.2 78.1 116.3 6.5 10.5 10.8 89.9 4.2 118.7 166.7 55.1 10.3 65.3 (15) Percent of CAD Foreign Investments - 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (16) Net Other Capital Movement in Reserves -177 -52 513 -396 -766 -688 -601 -14 -182 -43 -121 9 -166 -14 -93 35 -179 -30 -3 -1 97 -33 57 98 -11 -19 -5 0 -69 -53 -9 (Contd) 516 -369 -1000 -1546 -1396 -830 -7 -84 33 -95 89 -238 -38 -71 37 -48 56 -11 2 6 59 16 42 260 221 -11 18 -29 -17 165 -29 Net inclu.0 9.6 191.7 3.0 120.5 142.7 6.2 4.8 8.8 101.1 684.9 94.4 157.0 97.8 36.5 17.0 29.6 3.8 7.7 342.4 8. Crore) 15 Balance of Payments .5 7.7 20.1 28.8 18.0 3.1 0.2 111.3 41.-499 1971-72 894 1124 -238 -553 -2214 1977-78 1978-79 1979-80 1980-81 1975-76 1976-77 -956 -178 1974-75 1112 656 455 882 1270 1219 854 377 508 504 -312 -445 1970-71 469 645 1135 @@465 -234 1969-70 831 822 475 544 388 343 214 219 175 218 36 -10 1973-74 -410 1968-69 22 -10 1972-73 -843 -807 1966-67 1967-68 -468 -349 1963-64 -510 -354 1962-63 1965-66 -307 1964-65 -392 1961-62 -431 1960-61 -313 1956-57 1957-58 -327 7 1955-56 -186 6 1954-55 1959-60 27 48 1953-54 1958-59 6 60 1952-53 -5 47 39 (3) -163 (1) Net 1951-52 (2) Year 1950-51 Current Account Deficit (CAD) 50.9 69.0 7.7 6.4 0.7 2.9 133.8 113.8 4.(Decrease+ / ding errors Increase-) and omissions (17) (18) Rupee Debt Service (Rupees.3 200.2 - - - - - - - - - - - - - - - - - - - - - - - - - (12) Percent of CAD NRI Deposits 383 42 -74 -288 -306 218 485 62 0 75 -79 -30 -59 24 46 30 0 -24 12 58 -11 -24 0 35 55 -7 -17 -17 0 0 0 (13) Net IMF and SDR Allocations Table 3: Financing of Current Account Deficits : 1950-51 to 2003-04 - 70 24 -10 -26 -8 69 52 30 44 36 24 28 37 31 18 47 26 0 30 28 52 10 3 21 24 8 8 4 4 4 (14) Net - 12.2 96.1 0.

1 34.0 65.1 45.0 46.3 58.9 - - - (15) Percent of CAD Foreign Investments 1699 13281 IMF and SDR Allocations Other Capital Movement in Reserves -1758 -2306 -2760 -2457 -3308 -3059 -2542 -2784 -3090 -3106 -2335 -3302 -2140 -2785 517 683 249 563 - - - 36371 45667 -14396 5045 2072 16675 -4681 -1987 7811 -9334 1768 8786 4096 -256 1572 886 -450 -69 342 904 -228 59 -513 -143994 -82037 -27528 -56593 -16593 -26648 -20759 -14367 -14575 9798 -2481 -27366 2293 -9351 1449 1232 732 956 -926 707 -625 -773 1618 Net inclu.3 35.9 40.1 49.9 45. 64.1 20.1 34.7 5.8 19. Crore) Includes silver dispatched to USA and delivered to the American embassy values at Rs.2 47.3 29.8 crore during April-June 1957 and Rs.(Decrease+ / ding errors Increase-) and omissions (16) (17) (18) Net Rupee Debt Service (Rupees.4 7.1 15.2 33.3 32.3 17.6 79.6 302.9 30. 1664 crore as official grant receipts/amortisation under the agreement dated Feb. 12.0 109.6 crore during June-September 1957 in fulfilment of lead-lease obligations. # Includes India Development Bonds @ Other capital includes banking capital net of non-residents deposits but excludes short-term capital. Notes: * Receipts/disbursements for the year 1973-74 exclude Rs.3 (4) Percent of CAD 15269 13902 13521 16070 11507 13339 10893 10826 10025 10101 10172 10904 6095 10715 4860 4998 3056 -4614 1953 2481 1775 1925 1367 (5) Drawals External Assistance 27769 28922 11519 10661 8022 9424 7071 7365 5227 6895 4424 4940 2129 3320 1650 1909 1249 1669 546 805 650 741 622 (6) Repayments -6942 -8220 20171 -7528 18578 1447 10004 14601 3238 4548 -1095 1905 4035 3807 2743 2958 2513 1266 1110 1167 732 785 146 (7) Net -14 -27 -174 -46 -111 -7 -61 -70 -31 -23 9 -52 -23 -170 -26 -30 -43 -20 -39 -20 -22 -24 -5 (8) Percent of CAD 30073 16976 44455 12845 30645 13910 26867 27254 13041 14440 3583 9137 7630 7852 4265 4823 4304 3208 1472 1827 943 1054 373 (9) Drawals Commercial Borrowing 37015 25196 24284 20373 12067 12463 16863 12653 9803 9892 4677 7232 3595 4045 1522 1865 1791 1942 362 660 211 269 227 (10) Repayments 16869 14424 10561 13127 4060 6709 11894 4325 539 3821 6097 3780 2756 1008 3636 4000 1650 1840 879 1767 383 709 206 (11) Net 35.7 26. 1974 between the government of India and USA.0 164.8 104.1 130.8 330.9 20.2 194.6 29. 15 Source: RBI Bulletin.0 91.9 24.6 45.0 6.0 142.0 95. Signs have been ignored in columns 4.7 11.-5830 -6293 -10410 -9830 -17366 -2235 -12763 -3634 -10582 -19646 -16281 -20883 -16789 -20331 -11598 16426 30660 47952 1986-87 1987-88 1988-89 1989-90 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 -12500 -15020 2002 5409 3485 3915 3998 3461 4798 3356 5748 5964 3965 7395 3210 3090 1808 2945 1407 1676 1125 1183 746 (3) Net 26. @@ The net figure as per latest data is -1123.0 28.7 28.3 (12) Percent of CAD NRI Deposits - - -115 - -1652 -1122 -3461 -2286 -3585 -5749 3363 587 2178 2077 -1547 -1460 -672 -1209 59 -265 1895 1351 635 (13) Net 183 339 517 683 249 563 - - - (14) Net 67592 20098 35054 31920 9737 22184 21162 19832 15088 15624 141.8 49.8 31.6 16. which is after excluding certain prepayments.1 22. 9.3 8.5 1.3 365.0 17.7 21.4 47.0 73.1 79.1 19.5 13. August 2004 and earlier issues -2873 -5956 1984-85 1985-86 ** -2839 -3280 -3316 (1) 1982-83 1983-84 (2) Year 1981-82 Current Account Deficit (CAD) Financed by Table 3: Financing of Current Account Deficits : 1950-51 to 2002-03 (Concluded) Balance of Payments 16 .9 4.4 31.0 15.2 30.3 24. 8.18.2 5.

0 1.1 -2.8 138.1 2.9 16.3 -106.0 5.8 10.59 245.6 5.6 6.9 1.4 2.9 6.8 7.2 7.12 10.3 -1.1 1.0 34.2 1.5 130.5 10.3 1.3 11.20 10.5 -84.0 0.4 5.0 0.6 -12.4 -388.1 -34.3 0.4 4.7 -0.2 1976-77 1979-80 5.9 149.7 1975-76 5.2 1.5 7.0 1.4 (10) GDP -2.0 -3. Gross Private Transfer as percentage of: 17 Balance of Payments .6 -1.07 24.1 4.3 20.8 10.4 4.0 11.7 5.38 18.0 1.2 13.4 5.5 -0.4 7.6 9.6 5.2 0.9 1.2 1.3 -3.0 3.5 1.5 (3) Import as Percentage in GDP 8.8 11.1 929.2 4.9 8.1 0.2 0.2 160.2 5.6 -1.0 1.0 26.2 7.9 6.5 6.2 -2.5 -1.4 8.0 7.8 1.1 1.6 1962-63 1970-71 3.2 1.1 2.6 21.1 6.6 2.5 6.0 -0.1 9.8 -1.1 -12.7 99.7 85.5 5.9 5.5 (9) Imports of Goods and Services as Percentage of GDP (3+7) -0.4 -12.7 43.9 0.0 8.5 1.9 4.0 1.2 6.2 1.5 (11) GDCF Current Account Deficit as Percentage of: Table 4: Balance of Payments-Selected Indicators : 1950-51 to 2001-02 Merchandise as percentage of GDP 622.3 19.4 6.0 1958-59 3.1 3.9 7.0 0.7 (14) Merch.2 1.9 6.7 1959-60 3.2 3.1 1.8 4.7 8.0 1.7 (12) Merchandise Deficit as Percentage of Current Account Deficit -83.2 5.6 -23.0 10.4 (6) Rec Invisibles as Percentage of GDP 1.1 -0.1 1.0 8.1 22.3 1.3 4.0 1.0 4.5 126.9 -9.7 -322.3 -37. Rec.7 4.5 1961-62 3.7 -1.2 7.8 -27.5 0.0 8.9 0.3 107.7 12.0 7.22 50.2 -16.5 6.4 -15.0 1.1 7.8 1.8 14.5 7.7 1.9 24.2 -3.4 5.1 16.5 7.7 1971-72 3.1 9.5 1.9 117.2 5.0 -30.9 5.8 7.3.8 -1.6 7.0 -0.5 121.5 (15) Inv.7 664.2 7.7 143.3 0.9 (8) Exports of Goods and Services as Percentage of GDP (2+6) 9. Deficit (Contd) 40.6 1.6 -7.6 5.5 6.1 13.2 1.4 1.18 185.7 -8.2 -2.7 2.0 12.9 -9.3 1.4 6.4 22.9 1951-52 (2) (1) 1950-51 Export as Percentage in GDP Year 8.2 7.4 0.2 -2.8 1.2 1.4 7.4 0.4 1.8 6.5 -24.1 8.6 -1.0 10.8 25.6 -1.8 1.1 5.9 1955-56 4.9 2.2 4.9 9.4 14.7 0.2 91.3 -14.2 -288.1 7.4 -53.5 110.0 -105.4 17.9 73.7 1.9 0.2 7.1 4.3 -23.7 1960-61 1969-70 3.7 -2.3 21.9 -89.26 30.3 -3.9 0.1 1.1 9.2 8.4 (5) Net 3.7 20.5 9.0 95.9 6.5 5.8 1952-53 1953-54 6.0 13.2 -1.6 5.7 1.9 40.3 5.8 -1.7 26.3 4.1 0.8 92.6 9.1 9.5 1963-64 1964-65 1965-66 1966-67 5.0 6.1 0.6 0.0 -1.8 4.6 4.5 9.98 66.4 4.1 6.6 -6.0 23.1 132.4 5.8 3.5 15.1 (4) 2.1 7.1 4.8 7.0 -15.6 -44.6 25.1 1.8 -6.7 0.0 (7) Pay 8.7 5.6 1972-73 1977-78 3.1 1973-74 1978-79 3.9 21.9 4.4 5.6 6.5 0.9 54.9 -11.4 -6.9 22.0 4.9 8.0 1.9 5.1 103.0 13.8 8.2 4.5 18.6 12.9 0.6 5.9 24.3 14.6 6.1 0.5 1.1 17.6 24.3 8.4 13.1 9.0 1974-75 5.42 24.1 1.2 -1.3 167.4 6.6 1954-55 5.2 -17.09 9.5 6.4 -21.2 1.6 -10.6 134.0 1.6 54.6 7.1 10.0 0.2 -1900.2 1.3 0.3 -1366.6 5.1 1.9 -25.9 2.1 9.6 -15.6 12.0 0.2 1.3 10.7 (13) Net Invisibles as Per Cent of Merchandise Deficit 51.4 -33.3 -7.0 1956-57 1967-68 5.3 -51.2 114.5 -0.3 3.4 0.2 1.0 -0.5 -194.0 -14.1 9.9 1957-58 1968-69 5.3 3.2 1.2 34.3 0.2 -300.1 6.0 -108.2 0.6 4.0 4.7 1.5 3.4 -18.5 1.9 1.7 6.7 57.0 5.5 2.5 1366.3 1.81 38.0 8.5 0.5 0.8 5.1 36.3 22.2 11.5 1.9 0.7 29.7 7.9 -12.0 22.8 11.0 -1550.

6 97. Rec.1 6.5 -11.40 168.9 5.07 44.00 84.4 14.7 12.8 193.6 -1.2 46.30 139.8 37.6 7. GDP figures are taken at current market prices GDP figures for 2001-02 are quick estimates.0 8.7 -1.3 -14.2 (7) Pay 19.11 75.2 -56.3 4.9 1984-85 8.9 -2.87 78.5 12.9 1988-89 9.8 8.4 2.6 79.1 9.2 15.1 36.6 (11) GDCF Current Account Deficit as Percentage of: 148.1 22.3 11.3 9.9 14.2 -159.1 290.4 -1.:-Imports Notes: GDP figures for 2000-01 are provisional. Exp.4 11.4 3.1 12.07 30.24 36.5 109.2 380.8 228.8 21.2 -1.9 36.7 5.9 11.7 -63. Imp.3 -37.6 15.6 (8) Exports of Goods and Services as Percentage of GDP (2+6) * = Estimated. Annual Report.3 1998-99 2001-02 8.1 147.6 -32.Gross Domestic Capital Formation.5 4.2 27.3 9.2 3.8 11. and RBI.0 (3) Import as Percentage in GDP 24.9 4.8 -1.9 -8.9 43.1 8.3 -52.5 8.9 2.4 42.98 22.5 8.6 0.6 -7.8 (5) Net 8.5 350.4 52.8 1990-91 8.5 -11.8 14.6 (4) Merchandise as percentage of GDP 4.6 7.8 2.9 -8.8 204.5 (12) Merchandise Deficit as Percentage of Current Account Deficit Table 4: Balance of Payments-Selected Indicators : 1950-51 to 2001-02 (Concluded) 167.6 10.5 18.5 12.4 9.4 (13) Net Invisibles as Per Cent of Merchandise Deficit 151.3 -5.3 14.2 12.4 -1.1 40.7 7.0 -1.0 -1.6 2.4 8.4 -26.1 7.2 0.8 1.3 -4.0 11.2 7.8 9.6 10.9 -6. Gross Private Transfer as percentage of: Balance of Payments 18 . (various issues).5 14.2 -1.6 11.3 -3.9 41.2 6.6 1983-84 1993-94 4.Payments .0 15.1 2.8 1.:.7 1.6 -69.2 7.1 (9) Imports of Goods and Services as Percentage of GDP (3+7) 1.04 22.2 38.7 10.1 0.1 -2.7 1997-98 5.1 3.6 35.86.9 -57.3 5.3 -2.7 41.6 20.2 21.8 1.1 26.9 79.7 -1.8 12.9 8.8 8.2 14.5 330.8 6.7 (15) Inv.4 1999-00 2002-03* 8.5 1.:Not Available. Deficit 42.2 5.18 32.8 1.3 7.7 1.6 489.1 1.5 19.7 12.5 1.2 2.0 2.7 160.5 40.8 7.8 -71.9 10.4 2.3 3.5 15.8 15. .9 4.4 14.6 2.1 36.8 -7.2 21.6 7.32 145.4 -62.1 0.4 -7.9 3. (various issues). Sources: RBI.33 65.2 10.6 2.5 -1.1 135.9 7.4 40.3 1986-87 1995-96 4.7 280.6 2.2 2.1 -1.2 13.9 233.8 12.1 2.7 -1.8 1989-90 1996-97 4.2 9.3 12.8 4.9 3.2 2.6 3.4 1.Receipts Pay.6 2.3 1.4 13. GDCF:.0 3.9 (6) Rec Invisibles as Percentage of GDP 4.3 129.08 34.4 2.8 322.6 1.6 1981-82 7.2 -1.0 -0. Report on Currency and Finance.6 40.6 1980-81 1992-93 (2) (1) 1991-92 Export as Percentage in GDP Year 17.0 16.9 2.3 3.5 (10) GDP - 5.9 58.9 -69. 1994-95 4.1 9.1 3.8 19.0 8.63 130.7 -0. signs are ignored.2 3. Rec.8 -8.1 3.6 1.7 -1.1 3.5 7.80 107.6 4.6 11.7 268.5 1.5 12.2 -4.8 12. In Columns 13 & 14.7 -37.5 9.8 168.40 76.81 28.3 7.4 38.7 17.8 4.2 2.9 1982-83 6.6 -8.10.0 -1.1 -8.9 208.0 -65.:.8 8.4 13.8 9.6 334.10 68.37 38.8 3.1 4.1 -51.6 5.6 21. 9.8 9.8 8.4 160.7 2.1 50.2 1985.7 17.4 3.6 16.0 23.1 13.6 -4.2 1.7 2003-04 13.5 3.0 8.3 17.0 4.9 30.01 31.4 8.3 4.1 48.54 38.7 -0.0 17.1 1.5 16.3 4.1 -4.5 0.59 89.7 -0.9 -9.41 (14) Merch.2 0.4 276.4 7.9 -5.:-Exports.4 2.6 -9.6 1987-88 8.0 -48.2 8.4 10.6 1.5 18.0 117.9 2000-01 10.3 -64.

Capital Account IMF and SDR Allocation 35 Receipts 870 Payments 835 (6) Errors and Omissions -7 (7) Reserves and Monetary Gold -29 Rs Cr $ Mn 0 -252 2165 2417 -95 345 -342 1909 2251 -489 1534 2025 150 376 226 90 256 166 -22 33 54 63 125 126 0 -3 25 27 -60 4 64 48 69 21 0 0 0 90 256 166 (5) $ Mn 1951-52 Rs Cr 1950-51 0 -18 84 102 -26 17 60 795 735 -31 602 633 91 193 102 60 795 735 -6 22 28 29 35 35 0 -3 10 13 -3 8 11 -36 14 50 0 0 0 -18 84 102 (6) Rs Cr 0 -37 176 214 -54 35 126 1671 1544 -65 1264 1330 192 406 214 126 1671 1544 -12 46 59 61 74 74 0 -7 20 27 -6 17 24 -76 30 105 0 0 0 -37 176 214 (7) $ Mn 1952-53 1954-55 1955-56 (9) 100 1534 1435 -109 1134 1243 209 401 192 -8 132 139 -23 50 41 18 3 3 0 -6 17 24 21 27 6 -3 34 37 -36 0 36 -44 132 176 0 0 27 56 793 1666 767 1611 2 5 -29 -61 47 730 683 -52 540 592 100 191 91 -4 63 66 -11 24 19 9 2 2 0 -3 8 11 10 13 3 -1 16 17 -17 0 17 -21 63 84 (8) 0 -12 73 85 -18 11 6 801 795 -93 597 690 99 205 105 5 73 67 -5 27 31 17 1 1 0 11 22 11 6 7 12 4 17 13 -17 0 17 92 215 123 (10) 0 -25 153 178 -37 22 13 1683 1670 -195 1253 1449 208 430 221 11 153 142 -10 56 66 36 1 1 0 23 45 22 12 15 26 9 37 27 -36 0 36 193 451 258 (11) 0 28 982 954 -18 -11 7 890 896 -133 640 773 139 256 116 29 86 57 10 39 26 9 9 9 0 6 9 4 -6 8 14 9 23 14 -7 0 7 21 86 64 (12) 0 59 2063 2004 -37 -22 14 1869 1883 -279 1345 1624 292 538 245 60 180 120 22 83 54 19 20 20 0 12 20 8 -12 17 29 19 48 29 -15 0 15 45 180 135 (13) Rs Cr $ Mn Rs Cr $ Mn Rs Cr $ Mn 1953-54 Appendix 1(A): Balance of Payments : 1950-51 to 1989-90 0 -221 1115 1336 0 -221 -313 901 1214 -467 635 1102 154 266 111 37 154 117 -22 37 59 72 30 30 0 3 7 3 38 55 18 -13 25 37 55 61 6 92 215 123 (14) Rs Cr 0 -464 2343 2808 -1 -465 -657 1892 2549 -981 1334 2315 324 558 234 78 324 246 -46 78 124 150 64 64 0 7 15 6 80 116 37 -26 52 78 115 128 13 193 451 258 (15) $ Mn 1956-57 0 -252 1283 1535 8 260 -431 918 1349 -565 669 1233 133 249 116 145 331 186 4 50 46 153 100 115 15 -73 6 79 125 137 11 -11 24 35 35 35 0 179 365 186 (16) Rs Cr 0 -529 2695 3225 17 546 -906 1928 2834 -1186 1405 2591 280 523 243 304 695 391 7 104 97 320 210 242 32 -153 13 166 263 287 24 -23 50 73 74 72 0 377 767 391 (17) $ Mn 1957-58 0 -13 1249 1262 -29 42 -327 829 1156 -453 576 1029 253 127 126 314 419 106 -20 34 54 329 226 226 0 28 36 7 75 93 18 5 31 26 0 0 0 314 419 106 (18) Rs Cr 0 -28 2623 2651 -61 89 -687 1742 2429 -952 1211 2162 532 267 265 659 881 222 -42 72 114 691 474 474 0 60 75 15 158 196 38 10 64 54 0 0 0 659 881 222 (19) $ Mn 1958-59 0 9 1327 1318 -25 16 -186 888 1073 -299 633 932 113 254 141 218 439 221 -5 43 48 210 187 187 0 -12 1 12 35 172 137 13 36 24 -24 0 24 194 439 245 (20) (Contd) 0 19 2787 2769 -51 34 -390 1864 2254 -628 1330 1959 238 534 296 458 922 464 -10 91 101 442 393 393 0 -25 1 26 73 360 287 26 76 50 -50 0 50 408 922 514 (21) Rs Cr $ Mn 1959-60 19 Balance of Payments . IMF and SDR Allocation -4 Receipts 84 Payments 87 (5) Total Current Account.Memo Items : Non-monetary gold movement(Net) 0 0 73 1822 1748 -15 -61 0 -120 1031 1151 -45 164 82 1646 1564 -8 1355 1366 88 293 203 -8 176 182 -29 31 61 -25 17 17 0 -6 21 27 -36 27 63 46 80 34 0 0 0 -8 176 182 (4) -163 909 1072 -233 730 964 71 179 108 43 122 79 -10 16 26 30 60 60 0 -1 12 13 -29 2 30 23 33 10 0 0 0 43 122 79 (3) (2) (1) (1) Current Account(Net) 39 Receipts 786 Payments 747 (a) Merchandise -4 Exports f o b 647 Imports c i f 650 (b) Invisibles (Net) 42 Receipts 140 Payments 97 (2) Capital Acount (Net) -4 Receipts 84 Payments 87 (a) Private (Net) -14 Receipts 15 Payments 29 (b) Official (Net) -12 (I) Loans 8 Receipts 8 Payments 0 (ii) Amortisation -3 Receipts 10 Payments 13 (iii) Miscellaneous -17 Receipts 13 Payments 30 (c) Banking excluding RBI 22 Receipts 38 Payments 16 (3) IMF (SDR Allocation) 0 Receipts 0 Payments 0 (4) Capital Account.

IMF and SDR Allocation 340 Receipts 499 Payments 160 (5) Total Current Account.Memo Items : Non-monetary gold movement(Net) 0 0 -14 1513 1527 8 6 -111 2920 3032 -13 124 0 (24) -1252 2844 1209 -338 668 1006 31 234 203 234 491 258 -4 33 36 242 274 274 0 -58 2 60 26 140 114 -4 43 47 58 119 61 292 611 318 (23) -824 1870 2695 -998 1326 2324 174 546 372 735 1048 313 36 109 74 681 529 540 11 -74 6 80 225 303 78 21 92 71 0 0 0 714 1048 336 (22) (1) (1) Current Account(Net) -392 Receipts 890 Payments 1283 (a) Merchandise -475 Exports f o b 631 Imports c i f 1106 (b) Invisibles (Net) 83 Receipts 260 Payments 177 (2) Capital Acount (Net) 350 Receipts 499 Payments 149 (a) Private (Net) 17 Receipts 52 Payments 35 (b) Official (Net) 324 (I) Loans 252 Receipts 257 Payments 5 (ii) Amortisation -35 Receipts 3 Payments 38 (iii) Miscellaneous 107 Receipts 144 Payments 37 (c) Banking excluding RBI 10 Receipts 44 Payments 34 (3) IMF (SDR Allocation) 0 Receipts 0 Payments 0 (4) Capital Account. Capital Account IMF and SDR Allocation -53 Receipts 1390 Payments 1443 (6) Errors and Omissions -6 (7) Reserves and Monetary Gold 59 Rs Cr $ Mn 0 -30 3179 3208 16 13 -2630 5975 2540 -709 1404 2113 66 492 426 491 1032 541 -8 69 76 508 576 576 0 -122 4 127 54 294 239 -9 89 98 123 250 128 614 1283 668 (25) $ Mn 1961-62 Rs Cr 1960-61 0 -8 1526 1535 6 2 -2112 965 1319 -416 681 1097 62 284 222 334 550 216 -1 45 46 327 396 396 0 -51 2 53 -18 60 78 8 47 39 12 12 0 346 561 216 (26) Rs Cr 0 -17 3207 3224 12 5 -4437 2027 2771 -874 1430 2304 130 597 467 701 1154 453 -2 95 96 686 831 831 0 -107 4 111 -38 125 164 17 99 82 25 25 0 726 1179 453 (27) $ Mn 1962-63 1964-65 1965-66 (29) -6244 2369 3103 -932 1684 2616 197 685 487 921 1324 402 11 101 90 909 936 936 0 -116 4 120 89 165 76 2 118 116 -50 0 50 871 1324 452 (30) -3832 1208 1676 -620 801 1420 152 407 255 461 848 388 5 49 44 472 594 594 0 -63 5 67 -59 158 217 -17 42 60 0 48 48 461 986 435 0 0 0 65 137 -7 1758 3692 2104 1692 3555 2111 -55 -115 -49 -11 -23 56 -2972 1128 1477 -443 802 1245 94 326 232 439 630 191 5 48 43 433 446 446 0 -55 2 57 42 78 36 1 56 55 -24 0 24 415 630 215 (28) (32) -4692 1129 1640 -583 785 1368 73 345 272 542 923 381 3 52 60 530 531 531 0 -73 2 74 72 270 199 8 56 48 30 66 36 571 988 417 0 0 -16 61 4419 2118 4435 2057 -103 -12 118 -48 -8050 2537 3520 -1302 1683 2983 319 854 535 968 1782 815 11 103 92 992 1248 1248 0 -132 9 142 -124 333 456 -36 89 125 0 100 101 968 2071 915 (31) 0 127 4449 4321 -26 -101 -9857 2372 3446 -1226 1648 2874 153 724 572 1138 1938 801 7 110 126 1114 1116 1116 0 -153 3 156 150 568 417 17 118 101 63 138 75 1200 2076 876 (33) Rs Cr $ Mn Rs Cr $ Mn Rs Cr $ Mn 1963-64 Appendix 1(A): Balance of Payments : 1950-51 to 1989-90 0 -50 3041 3091 13 37 844 1546 2390 -905 1087 1991 61 460 399 748 1406 658 11 84 73 741 906 906 1 -127 2 128 -39 316 355 -4 98 102 46 89 43 794 1495 701 (34) Rs Cr 0 -70 4294 4364 19 52 1191 2183 3374 -1277 1534 2811 86 649 563 1056 1985 929 15 118 103 1046 1279 1280 1 -179 3 181 -54 446 501 -5 139 144 65 126 61 1121 2111 990 (35) $ Mn 1966-67 0 154 3382 3227 -84 -71 -808 1696 2503 -802 1260 2063 -5 436 441 938 1619 681 5 68 63 1278 980 987 7 176 2 178 122 415 293 6 147 141 24 68 43 962 1686 724 (36) Rs Cr 0 206 4509 4303 -112 -94 -1077 2261 3337 -1070 1680 2750 -7 581 588 1250 2158 908 7 91 84 1704 1307 1316 9 235 3 237 163 553 390 8 196 187 33 90 58 1283 2248 966 (37) $ Mn 1967-68 0 157 3067 2910 -119 -38 -410 1849 2260 -425 1367 1792 15 482 467 626 1218 592 9 71 62 635 806 811 5 -156 3 159 -15 280 294 -17 53 71 -59 0 59 568 1218 650 (38) Rs Cr 0 210 4089 3880 -159 -51 -547 2466 3013 -567 1823 2390 19 643 623 835 1623 789 11 94 83 847 1075 1081 6 -208 4 213 -20 373 393 -23 71 94 -78 0 79 757 1623 867 (39) $ Mn 1968-69 0 256 2979 2723 -18 -238 -234 1844 2078 -171 1405 1576 -63 439 502 521 1041 519 -3 79 82 509 654 661 7 -177 4 181 32 236 204 15 61 7 30 95 125 490 1135 645 (40) (Contd) 0 342 3973 3631 -25 -317 -312 2459 2771 -227 1874 2101 -85 585 669 695 1387 692 -5 105 110 679 872 881 9 -236 6 241 42 314 272 20 81 9 40 126 167 654 1513 860 (41) Rs Cr $ Mn 1969-70 Balance of Payments 20 .

IMF and SDR Allocation 424 Receipts 1269 Payments 846 (5) Total Current Account. Capital Account IMF and SDR Allocation -22 Receipts 3183 Payments 3205 (6) Errors and Omissions -67 (7) Reserves and Monetary Gold 89 Rs Cr $ Mn 0 252 4505 4254 -125 -127 -666 2839 3518 -634 2110 2744 -32 728 761 666 2839 3505 35 161 126 778 909 971 63 -235 52 287 105 310 206 5 72 68 100 100 0 917 1667 749 (45) $ Mn 1971-72 Rs Cr 1970-71 0 72 3640 3568 -105 33 -311 2508 2819 -168 1994 2161 -144 514 658 383 1132 749 34 135 101 337 599 665 66 -193 56 249 -68 195 264 11 81 69 0 0 0 383 1132 749 (46) Rs Cr 0 93 4739 4646 -136 43 -405 3266 3671 -218 2596 2814 -187 670 857 499 1474 975 45 176 131 439 779 865 86 -251 73 324 -89 254 343 15 105 90 0 0 0 499 1474 975 (47) $ Mn 1972-73 1974-75 1975-76 (49) 1457 5954 3195 -655 3025 3680 2112 2929 816 -1189 2006 3195 58 194 137 -1271 1116 1149 33 -2550 18 2568 163 540 376 24 106 81 80 80 0 -1109 2085 3195 (50) -956 4180 5136 -1287 3195 4482 331 985 654 704 2044 1340 100 229 130 652 1184 1214 30 -237 13 249 -295 481 -295 -48 107 155 485 485 0 1189 2529 1340 0 0 0 271 348 233 6262 8039 6709 5991 7691 6476 -187 -240 -256 -84 -108 -7 1135 4638 2489 -510 2357 2867 1646 2281 636 -926 1563 2489 45 151 106 -990 869 895 26 -1986 14 2000 127 420 293 19 82 63 62 62 0 -864 1625 2489 (48) (52) -178 5995 6173 -1183 4180 5362 1005 1815 810 1003 2491 1488 40 197 156 936 1647 1730 83 -268 32 300 -443 400 843 27 132 105 218 218 0 1221 2709 1488 -205 6906 7111 -1362 4815 6178 1157 2091 933 1156 2870 1714 46 227 180 1078 1897 1993 96 -308 37 345 -510 461 971 31 152 121 251 251 0 1407 3121 1714 (53) 0 0 0 293 1043 1202 8449 8704 10027 8156 7661 8825 -322 -214 -246 -9 -830 -956 -1204 5264 6468 -1621 4024 5645 417 1241 824 887 2574 1688 125 288 163 821 1491 1529 38 -298 16 314 -371 606 -371 -60 135 195 611 611 0 1497 3185 1688 (51) Rs Cr $ Mn Rs Cr $ Mn Rs Cr $ Mn 1973-74 Appendix 1(A): Balance of Payments : 1950-51 to 1989-90 996 8178 7182 -345 5723 6069 1341 227 1114 1212 2924 1713 51 459 207 1033 1898 1978 79 -332 48 379 -533 377 910 128 264 136 -341 0 341 871 2924 2054 (55) $ Mn 1124 8208 7083 -597 5440 6038 1722 2767 1046 585 2433 1848 151 303 153 368 1335 1364 29 -445 9 454 -523 364 886 67 393 327 -288 0 288 297 2433 2136 (56) Rs Cr 0 0 0 (58) Rs Cr (59) $ Mn 1978-79 (60) 0 0 0 0 (Contd) 0 1622 266 323 319 394 12143 11377 13824 13055 16117 10521 11112 13502 12736 15724 142 734 892 51 62 -1764 -1000 -1215 -369 -456 -683 13209 13892 -4247 757 12041 3564 5415 1851 -683 13209 13892 76 314 238 1050 1482 1559 77 -638 6 644 207 622 415 -101 255 356 52 154 101 1077 2908 1832 (61) Rs Cr $ Mn 1979-80 1309 -238 -289 -553 9367 8779 10667 10699 8084 9017 10956 11253 -682 -2212 -2688 -3440 6209 5594 6797 613 6890 7806 9485 9753 1965 1974 2399 2887 3158 3185 3870 4386 1193 1211 1471 1500 667 -238 -289 -553 2777 8779 10667 10699 2109 9017 10956 11253 172 117 143 62 346 332 403 254 174 214 260 192 419 469 569 851 1524 932 1132 1200 1557 996 1210 1262 33 64 78 62 -508 -436 -529 -517 10 19 23 5 518 455 553 522 -596 -28 -34 167 415 840 1020 504 1011 868 1054 337 76 -8 -10 -82 449 286 348 206 373 295 358 289 -328 -74 -90 42 0 126 153 124 329 200 243 82 339 503 612 872 2777 2599 3157 2356 2438 2095 2546 1484 (57) $ Mn 1977-78 1676 1867 1421 9970 11103 10641 8294 9236 9219 -280 -312 125 -1396 -1555 -1546 894 7344 6450 -310 5140 5450 1204 204 1000 1088 2626 1538 46 412 186 928 1705 1776 71 -298 43 341 -479 339 818 115 237 123 -306 0 306 782 2626 1844 (54) Rs Cr 1976-77 21 Balance of Payments .Memo Items : Non-monetary gold movement(Net) 131 188 3375 3186 -93 -95 -29 4211 4241 -89 118 0 -499 2126 2635 -475 1581 2055 -24 546 570 499 2126 2625 26 121 95 583 681 728 47 -176 39 215 78 232 154 4 54 51 75 75 0 687 1248 561 17 (44) (43) -593 2552 3121 -541 1876 2416 -49 656 705 664 1580 916 5 138 132 658 934 951 17 -238 16 253 -38 413 451 0 62 62 -204 0 204 561 1679 1119 (42) (1) (1) Current Account(Net) -445 Receipts 1914 Payments 2359 (a) Merchandise -409 Exports f o b 1418 Imports c i f 1826 (b) Invisibles (Net) -37 Receipts 496 Payments 533 (2) Capital Acount (Net) 502 Receipts 1194 Payments 692 (a) Private (Net) 4 Receipts 104 Payments 100 (b) Official (Net) 497 (I) Loans 706 Receipts 719 Payments 13 (ii) Amortisation -180 Receipts 12 Payments 191 (iii) Miscellaneous -29 Receipts 312 Payments 341 (c) Banking excluding RBI 0 Receipts 47 Payments 47 (3) IMF (SDR Allocation) -154 Receipts 0 Payments 154 (4) Capital Account.

and its various other issues. July 1993. Memo Items : Non-monetary gold movement(Net) (1) Current Account(Net) -2214 Receipts 12335 Payments 14548 (a) Merchandise -6211 Exports f o b 6666 Imports c i f 12877 (b) Invisibles (Net) 3997 Receipts 5669 Payments 1672 (2) Capital Acount (Net) 1443 Receipts 3953 Payments 2510 (a) Private (Net) 331 Receipts 539 Payments 207 (b) Official (Net) 1098 (i) Loans 1942 Receipts 1971 Payments 28 (ii) Amortisation -660 Receipts 3 Payments 63 (iii) Miscellaneous -184 Receipts 1008 Payments 1192 (c) Banking excluding RBI 13 Receipts 432 Payments 419 (3) IMF (SDR Allocation) 265 Receipts 273 Payments 8 (4) Capital Account. IMF and SDR Allocation 1826 Receipts 4343 Payments 2517 (5) Total Current Account. 2003.(62) 17 (67) $ Mn (68) (69) (70) (71) (72) (73) Rs Cr $ Mn Rs Cr $ Mn Rs Cr $ Mn 1985-86 (74) Rs Cr (75) $ Mn 1986-87 (76) Rs Cr (77) $ Mn 1987-88 0 0 0 0 0 0 20 — Concluded 0 17 29 24 0 0 0 0 0 -10410 31573 41983 -13556 20647 34202 3146 10926 7781 10305 21284 10980 3250 6613 3363 7319 8437 8465 27 -3067 15 3082 1949 5493 3544 265 698 963 -1547 0 1547 8757 21284 12527 (78) Rs Cr 0 -7188 21802 28990 -9361 14257 23617 2172 7545 5373 7116 14697 7582 2244 4566 2322 5054 5826 5845 19 -2118 10 2128 1346 3793 2447 -183 482 665 -1068 0 1068 6047 14697 8650 (79) $ Mn 1988-89 6 -9830 40713 50543 -12413 28229 40642 2583 12484 9901 10777 27810 17032 3150 10110 6960 7568 8428 8436 8 -2990 14 3004 2130 8276 6145 59 974 914 -1460 0 1460 9318 27810 18492 (80) 4 -5904 24454 30358 -7456 16955 24411 1551 7498 5947 6473 16704 10230 1892 6072 4180 4546 5062 5067 5 -1796 8 1804 1279 4971 3691 35 585 549 -877 0 877 5597 16704 11107 (81) Rs Cr $ Mn 1989-90 -7 -1653 -1141 -512 -308 33028 52857 36498 68523 41157 33034 54510 37640 69035 41465 -731 203 140 -720 -432 737 1449 1001 1232 740 (66) Rs Cr 1984-85 -489 -1529 -1705 196 203 1053 1018 597 502 -1298 -1061 -603 -472 -9 21090 17097 19064 21744 22495 24498 23692 26339 22154 27517 22490 33550 26256 42824 21581 18625 20768 21578 22293 23445 22674 25742 21652 28815 23551 34152 26727 42832 -163 -90 -100 429 444 -280 -271 329 277 592 484 -129 -101 -948 653 1618 1804 -625 -647 -773 -748 -926 -779 707 578 732 573 956 (65) $ Mn 1983-84 -4853 19802 24655 -7170 12464 19816 2317 7156 4840 5779 13226 7447 1734 3073 1339 3987 5269 5285 15 -286 6 2191 904 4620 3716 58 243 185 -932 0 932 4847 13226 8380 (64) Rs Cr 1982-83 -2800 -2839 -3166 -3280 -3393 -3316 -3207 -2873 -2417 -5956 -4868 -5830 -4563 -6293 15598 13429 14974 15199 15724 17061 16500 20202 16992 19453 15899 21589 16895 25675 18397 16268 18140 18479 19118 20377 19707 23075 19409 25409 20767 27419 21458 31968 -7854 -6494 -7241 -6719 -6951 -6925 -6697 -6721 -5653 -9586 -7835 -9354 -7320 -9296 8429 7766 8660 9137 9453 10169 9835 11959 10059 11578 9463 13315 10420 16397 16284 1420 1583 15857 16405 17093 16531 18680 15712 21164 17298 22669 17741 25693 5054 3655 4076 3439 3558 3068 2967 3849 3237 3630 2967 3524 2758 3004 7169 5664 6316 6062 6271 6893 6666 8243 6933 7875 6436 8274 6475 9279 2114 2008 2239 2622 2713 3284 3176 4394 3696 4245 3470 4751 3718 6275 1825 676 754 1581 1636 3018 2919 3411 2869 4922 4023 5899 4617 7493 4999 2997 3342 4651 4812 6012 5814 5920 4979 8064 6591 11960 9360 17149 3174 2321 2588 3070 3176 2994 2896 2509 2110 3142 2568 6061 4743 9656 419 224 250 378 391 922 892 1092 918 2091 1709 2267 1774 2248 682 418 466 615 636 1188 1149 1467 1234 2617 2139 3222 2530 3984 262 194 216 237 245 266 257 375 315 526 430 966 756 1736 1388 465 519 1135 1174 1914 1851 2512 2113 2645 2162 3702 2897 5170 2456 1517 1692 2472 2257 2611 2525 3034 2552 3683 3010 6462 5057 6832 2492 1525 1700 2489 2575 2625 2539 3059 2573 3693 3018 6478 5070 6852 35 8 9 17 18 14 14 25 21 10 8 15 12 20 -835 -774 -863 -798 -826 -916 -886 -727 -611 -1152 -942 -2588 -2025 -2834 4 1 1 1 1 0 0 0 0 0 0 8 80 774 863 799 827 917 887 727 611 1152 942 2588 2025 2841 -233 -278 -310 -539 -558 219 212 205 172 114 93 -172 -135 1172 1275 697 777 1128 1167 1802 1743 1028 865 1000 817 1874 1467 5990 1507 975 1087 1666 1724 1583 1531 823 692 886 724 2074 1601 4818 16 -13 -14 68 70 182 176 -193 -162 186 152 -70 -55 75 546 358 399 418 432 396 383 367 309 755 617 376 294 315 530 371 414 350 362 214 207 560 471 568 464 446 349 240 335 635 708 1895 1960 1351 1307 59 50 -265 -217 -672 -526 -120 345 671 748 1895 1960 1425 1378 217 183 0 0 0 0 0 10 36 40 0 0 74 72 159 134 265 217 672 526 1209 2309 1310 1461 3476 3596 4369 4225 3469 2918 4658 3807 5227 4091 6284 5492 3668 4090 6545 6771 7437 7192 6137 5162 8064 6591 11960 9360 17149 3183 2357 2628 3070 3176 3068 2967 2668 2244 3407 2785 6733 5269 10865 (63) $ Mn Source : Reserve Bank of India Bulletin. Capital Account IMF and SDR Allocation -387 Receipts 16678 Payments 17066 (6) Errors and Omissions -129 (7) Reserves and Monetary Gold 516 (1) Rs Cr 1981-82 Appendix 1(A): Balance of Payments : 1950-51 to 1989-90 (Concluded) 1980-81 Balance of Payments 22 . Monograph on India’s Balance of Payments.

A) CURRENT ACCOUNT (I+II) I) Merchandise (FoB/CIF) II) Invisibles B) Total Capital Account 1.F. Portfolio i) In India ii) Abroad 2. Crore) 23 Balance of Payments .M. Monetary Movements i) I. Direct i) In India Equity Reinvested Earnings Other Capital ii) Abroad Equity Reinvested Earnings Other Capital II. Rupee Debt Service 5. Foreign Investment (I+II) In India (Ii +IIi ) Abroad (Iii + IIii) I. Errors & Omissions D. Banking Capital a)Commercial Banks i) Assets ii) Liabilities of which:Non-Resident Deposits b) Others 4. Overall Balance (A+B+C) E. ii) Foreign Exchange Reserves 46549 33153 13396 40851 201 201 191 10 16924 6095 6095 7684 54 7630 3145 18133 14282 763 13519 13184 3851 0 5593 235 87634 4471 2178 2293 Receipts Net 63915 -17366 50086 -16933 13829 -433 28193 12658 19 183 19 172 19 172 0 10 6996 9928 2139 3956 11 -11 2129 3966 3639 4045 44 10 3595 4035 1216 1928 16910 1223 12661 1621 1415 -652 11244 2275 10427 2757 4249 -399 2140 -2140 2129 3464 238 92105 -4471 4471 2178 2293 Payments 1990-91 68372 44923 23449 57300 385 385 375 10 23219 10715 0 10715 7896 45 7851 4609 26772 22452 3397 19054 18972 4320 0 6923 125672 3205 3205 - 70607 51417 19190 47489 46 46 46 0 13294 3335 14 3320 4074 29 4045 5885 25422 21850 2838 19011 17965 3573 2785 5944 301 118398 10479 1127 9351 Receipts Payments 1991-92 -2235 -6494 4259 9811 339 339 329 10 9925 7380 -14 7395 3822 16 3806 -1276 1350 602 559 43 1007 747 -2785 979 -301 7274 -7274 2078 -9351 Net 81803 54761 27042 66044 1797 1797 1051 746 26639 10172 0 10172 3621 38 3583 12847 34257 29684 3783 25901 25191 4573 0 3351 4400 147843 4231 4231 - 94566 72000 22566 53917 98 98 92 6 25194 4434 11 4424 4740 62 4678 16020 22100 20728 485 20242 19094 1372 2335 4191 4645 148726 3348 869 2481 Net -12763 -17239 4476 12127 1699 1699 959 740 1445 5738 -11 5748 -1119 -24 -1095 -3173 12157 8956 3298 -438 6097 3201 -2335 -840 -245 -883 883 3362 -2481 Receipts Payments 1992-93 106648 71147 35501 90820 14461 14461 242 12420 31276 1904 10904 9457 320 9137 10915 36070 33289 864 32425 27759 2781 9014 2510 199977 1007 1007 - Receipts Appendix 1(B): Balance of Payments : 1990-91 to 2003-04 110282 83870 26412 62915 1180 1179 1 204 975 25590 4955 15 4940 7308 76 7232 13328 288971 2891 3513 24578 23979 880 3302 3873 173198 27786 420 27366 Payments 1993-94 -3634 -12723 9089 27905 13281 13282 -1 38 11445 5686 -3051 -15 5964 2149 244 1905 -2413 -3E+05 30398 -29649 4067 3780 1900 -3302 5141 2510 26779 -26779 587 -27366 Net 133167 84329 48839 81360 18086 18058 28 4241 13817 34329 10030 4 10025 13347 306 13041 10953 22034 20244 756 19488 18224 1790 6912 2049 216576 4231 1623 Receipts 143749 112748 31001 54667 2998 2609 390 25 2584 24787 5257 29 5227 9813 11 9803 9717 23092 22216 3780 18436 17685 876 3090 701 198416 18160 3585 14575 Payments 1994-95 (Contd) -10582 -28419 17838 26693 15088 15449 -362 4216 11233 9542 4773 -25 4798 3533 296 3238 1236 -1058 -1972 -3024 513 539 914 -3090 6211 2049 18160 -18160 3363 -2481 Net (Rupees. Loans a) External Assistance i) By India ii) To India b) Commercial Borrowings i) By India ii) To India c) Short term To India 3. Other Capital C.

Banking Capital a)Commercial Banks i) Assets ii) Liabilities of which:Non-Resident Deposits b) Others 4. Loans a) External Assistance i) By India ii) To India b) Commercial Borrowings i) By India ii) To India c) Short term To India 3. Errors & Omissions D.M. Monetary Movements i) I. Overall Balance (A+B+C) E. Crore) Balance of Payments 24 . ii) Foreign Exchange Reserves 167924 108481 59443 81603 19042 18994 48 7277 11717 38396 10101 10101 14470 30 14440 13824 21692 20787 2845 17942 16671 904 2474 1287 250853 9798 9798 Receipts Net 187570 -19646 146542 -38061 41027 18416 67332 14271 3418 15624 2721 16273 697 -649 101 7176 2620 9097 30422 7974 6799 3302 54 -54 6746 3355 9892 4578 30 9892 4548 13730 94 19247 2445 17704 3083 4320 -1475 13384 4558 12850 3821 1543 -639 3106 -3106 11140 -8666 1287 254902 -4049 5749 4049 5749 -5749 9798 Payments 1995-96 197285 121194 76091 128559 27784 27751 33 10171 17581 62991 10893 10893 26897 30 26867 25201 28394 27052 2650 24402 24039 1342 9390 325844 - Receipts 213566 173753 39813 85944 6622 5922 700 77 5845 46009 6924 29 6895 16863 16863 22222 20504 19146 5738 13409 12146 1358 2542 10267 2114 301624 24220 3461 20759 Payments 1996-97 -16281 -52559 36278 42615 21162 21829 -667 10094 11736 16982 3969 29 3998 10034 30 10004 2979 7890 7906 -3088 10993 11893 -16 -2542 -877 -2114 24220 -24220 -3461 -20759 Net 10827 27254 43 27211 26063 33056 30328 2093 28235 28041 2728 14458 931 365981 - 218948 132703 86245 146102 34444 34075 369 13317 20758 64144 10827 239831 190508 49323 109497 14612 14114 4988 124 13990 46697 7441 77 7364 12653 12653 26593 36243 34838 10214 24625 23716 1405 2784 9171 349328 16653 2286 14367 Receipts Payments 1997-98 -20883 -57805 36922 36605 19832 19961 -4619 13193 6768 17447 3386 -77 3463 14601 43 14558 -530 -3187 -4510 -8121 3610 4325 1323 -2784 5287 931 16653 -16653 -2286 -14367 Net Appendix 1(B): Balance of Payments : 1990-91 to 2003-04 252895 144436 108459 143561 24825 24210 615 10550 13660 61972 11608 2 11506 30646 22 30624 19718 37525 31507 5713 26894 26267 6018 19339 143561 396456 - Receipts 269684 199914 69770 107679 15088 14041 1047 162 13879 43009 8107 85 8022 12067 12067 22834 34396 33194 11421 21773 21207 1202 3308 11879 848 378211 18245 1652 16593 Payments 1998-99 -16789 -55478 38689 35882 9737 10169 -432 10388 -219 18963 3501 -83 3484 18579 22 18557 -3116 3129 -1687 -5708 5121 5060 4816 -3308 7460 142713 18245 -18245 -1652 -16593 Net 294202 162753 131449 175822 53125 52607 518 9409 43198 56646 13342 3 13339 13910 13823 29394 46212 44496 11486 33010 32133 1716 19839 2773 472797 - Receipts 314533 240112 74421 130494 30941 30106 835 13 30093 49695 9471 47 9424 12463 12463 27761 36995 34486 8079 26407 25424 2509 3059 9804 445027 27770 1122 26648 Payments 1999-00 (Contd) -20331 -77359 57028 45328 22184 22501 -317 9396 13105 6951 3871 -44 3915 1447 13823 -12463 1633 9217 10010 3407 6603 6709 -793 -3059 10035 2773 27770 -27770 -1122 -26648 Net (Rupees. Direct i) In India Equity Reinvested Earnings Other Capital ii) Abroad Equity Reinvested Earnings Other Capital II. Other Capital C.F. Portfolio i) In India ii) Abroad 2. Rupee Debt Service 5.A) CURRENT ACCOUNT (I+II) I) Merchandise (FoB/CIF) II) Invisibles B) Total Capital Account 1. Foreign Investment (I+II) In India (Ii +IIi ) Abroad (Iii + IIii) I.

Banking Capital a)Commercial Banks i) Assets ii) Liabilities of which:Non-Resident Deposits b) Others 4. Loans a) External Assistance i) By India ii) To India b) Commercial Borrowings i) By India ii) To India c) Short term To India 3.M. July 1993. Crore) 25 Balance of Payments .F. and its various other issues. Overall Balance (A+B+C) E. Portfolio i) In India ii) Abroad 2. Errors & Omissions D. Monograph on India’s Balance of Payments. Direct i) In India Equity Reinvested Earnings Other Capital ii) Abroad Equity Reinvested Earnings Other Capital II. A) CURRENT ACCOUNT (I+II) I) Merchandise (FoB/CIF) II) Invisibles B) Total Capital Account 1. Rupee Debt Service 5. Monetary Movements i) I.355630 207852 147778 247491 80824 80501 320 18727 18404 10948 6177 1279 323 323 62097 62097 109271 13521 13521 44455 44455 51295 44448 43020 954 42066 41022 1428 12948 603121 6442 6442 367228 264589 102639 206881 45770 49485 4595 3803 3803 1906 1553 344 50277 49485 792 84812 11519 78 11441 24284 23 24261 49009 53592 51753 20137 31616 30461 1839 2760 11637 1369 575478 34085 115 33970 Payments 2000-01R -11598 -56737 45139 40610 35054 31016 -4275 14924 18404 10948 6177 1279 -3480 -1583 -1553 -344 11820 12612 -792 24459 2002 -78 2080 20171 -23 20194 2286 -9144 -8733 -19183 10450 10561 -411 -2760 1311 -1369 27643 -27643 -115 -27528 Net Source : Reserve Bank of India Bulletin. Aug 2004. Other Capital C. ii) Foreign Exchange Reserves Receipts 388453 213345 175108 206404 73907 73435 472 29741 29269 19570 7841 1858 472 472 44166 44166 55418 16070 16070 12845 15 12830 26503 66113 63830 6121 57709 54464 2283 10966 594857 - Receipts 372027 268300 103727 165324 41987 34574 7413 7111 24 24 7087 3176 3339 572 34876 34550 326 61302 10661 410 10251 20373 20373 30268 52335 50998 8046 42952 41337 1337 2457 7243 913 538264 56593 56593 Payments 2001-02 R 16426 -54955 71381 41080 31920 38861 -6941 22630 29245 19546 7841 1858 -6615 -2704 -3339 -572 9290 9616 -326 -5884 5409 -410 5819 -7528 15 -7543 -3765 13778 12832 -1925 14757 13127 946 -2457 3723 -913 56593 -56593 -56593 Net 462836 260079 202757 224237 67756 67401 356 25036 24681 13699 8866 2116 355 355 42720 42720 55899 13902 13902 16976 43 16933 25021 91681 89057 29443 59614 49439 2624 8901 687073 - Receipts 432176 311776 120400 171871 47658 9329 9442 284 284 9158 3314 5342 502 38216 38045 171 74469 28922 157 28765 25196 25196 20351 41348 40157 4777 35380 35015 1191 2306 6090 989 605036 82037 82037 Payments 2002-03 R Appendix 1(B): Balance of Payments : 1990-91 to 2003-04 (Concluded) 30660 -51697 82357 52366 20098 58072 356 15594 24397 13415 8866 2116 -8803 -2959 -5342 -502 4504 4675 -171 -18570 -15020 -157 -14863 -8220 43 -8263 4670 50333 48900 24666 24234 14424 1433 -2306 2811 3523 82037 -82037 -82037 Net 539870 296767 243103 360429 151408 150438 967 22427 21457 10948 8271 2238 970 970 128981 128981 96359 15269 15269 30073 14 30059 51017 89456 87902 9173 78729 65739 1554 23206 1463 901762 - Receipts 491918 368102 123816 265850 83816 76989 6827 6733 10 10 6723 2257 4099 367 77083 76979 104 109118 27769 47 27722 37015 37015 44334 60800 57094 8224 48870 48870 3706 1756 10360 757768 143994 143994 Payments 2003-04 PR 47952 -71335 119287 94579 67592 73449 -5860 15694 21447 10938 8271 2243 -5753 -1287 -5403 -367 51898 52002 -103 -12759 -12500 47 -12453 -6942 16 -6956 6683 28656 30808 949 29859 16869 -2152 -1758 12846 1463 143994 -143994 -143994 Net (Rupees. Foreign Investment (I+II) In India (Ii +IIi ) Abroad (Iii + IIii) I.

. . .... .... . . ... ..A) CURRENT ACCOUNT (I+II) I) Merchandise (FoB/CIF) II) Invisibles (a+b+c) B) Total Capital Account 1. 1812 1896 -5 1901 685 78 607 -769 2263 1658 -844 1292 1205 605 -1053 1638 800 8537 -8537 187 -8724 Net 42409 26855 15554 25914 5763 5753 10 1351 . . 8260 1446 3 1443 1545 20 1525 5259 8172 7723 161 375 7187 449 878 1399 940 51410 1033 335 698 Payments 1992-93 -3526 -5447 1921 3876 557 557 — 315 .. . 0 ... 4 .. . 3649 . 4 . . 9432 3397 — 3397 4282 30 4252 1753 10106 7960 425 187 7348 2146 — 3117 132 48839 3136 1858 1278 Receipts 35621 27915 7706 15710 10 10 — 10 . ... .... . .. 5437 1335 6 1329 1689 12 1677 2413 10394 8929 1107 417 7405 1465 1240 2335 133 48503 459 459 3385 Payments 1991-92 -1178 -2798 1620 3910 133 133 — 129 ..... . .. Banking Capital a)Commercial Banks i) Assets ii) Liabilities of which:Non-Resident Deposits b) Others 4. 6 . 311 . ...F. .. ... . . ... 3899 1193 6 1187 2028 24 2004 678 9424 7056 789 456 5811 2368 1193 1186 — 51331 644 644 — Payments 1990-91 PR -9680 -9438 -242 7056 103 103 — 97 .... . . .. .. . . . — .. .. .. . .. . . .. 3979 3031 -6 3037 1463 7 1456 -515 564 136 228 -382 290 428 -1240 474 -133 -2599 786 786 -3375 Net 28203 18869 9334 22617 589 589 — 345 ... 9971 3476 — 3476 3015 102 2913 3480 11500 10614 276 1483 8850 886 — 2873 800 63757 321 321 — Receipts 1993-94 35160 26739 8421 20060 376 376 — 65 .. ii) Foreign Exchange Reserves 25941 18477 7464 22766 113 113 — 107 . . ... Overall Balance (A+B+C) E. . ... . Foreign Investment (I+II) In India (Ii +IIi ) Abroad (Iii + IIii) I. . 4402 .. .. 10930 3193 2 3191 4249 97 4152 3488 7020 6449 241 403 5805 571 — 2201 654 68977 — — — Receipts 45778 35904 9874 17412 956 831 125 8 .... 411 1856 -3 1859 -366 -8 -358 -1069 3826 2930 1073 -144 2001 896 -878 -40 -940 -590 590 1288 -698 Net Appendix 1(C): Balance of Payments : 1990-91 to 2003-04 34002 22683 10319 28955 4611 4611 — 651 .. . 3960 .. .. .... ... . . .. . ... .... .... . . . ... .. 823 .. 6 . . . ... . 8671 3302 — 3302 1179 12 1167 4190 11998 10653 1234 231 9188 1345 — 1359 — 50820 1623 1623 — Receipts 31729 24316 7413 18741 32 32 — 30 . . . . .. .. ... . ..... 3035 1518 -8 1526 1124 94 1030 393 -334 -626 -962 164 172 292 -983 1977 654 5787 -5787 -1143 -4644 Net (Contd) Payments 1994-95 (US Dollar Million) Balance of Payments 26 ... 8159 1580 5 1575 2330 24 2306 4249 9237 8956 1120 191 7645 281 1053 1235 — 55220 8858 134 8724 Payments -1158 -4056 2898 8395 4235 4235 — 586 .... ... ...... ... . .. Rupee Debt Service 5. . ... .. Errors & Omissions D. ....M. .. Direct i) In India Equity Reinvested Earnings Other Capital ii) Abroad Equity Reinvested Earnings Other Capital II... .... 5533 2204 -6 2210 2254 6 2248 1075 682 904 -364 -269 1537 -222 -1193 1931 132 -2492 2492 1214 1278 Net 27768 18266 9502 23334 151 151 — 147 ... .. ..... . .... .. . . .. Other Capital C. 3579 . .. . . 2 ... . . ... . 9416 4366 — 4366 3152 19 3133 1898 10958 9065 1335 35 7695 1893 — 2809 — 51102 1245 1245 — Receipts 28946 21064 7882 19424 18 18 — 18 . . . . .. . . . .. . Loans a) External Assistance i) By India ii) To India b) Commercial Borrowings i) By India ii) To India c) Short term To India 3. Monetary Movements i) I.. .... .. . 7895 1675 10 1665 3125 3 3122 3095 7354 7075 1203 239 5633 279 983 224 — 63190 5787 1143 4644 -3369 -9049 5680 8502 4807 4922 -115 1343 ... 244 . ... ... . 242 . .. . . .. .. . ... Portfolio i) In India ii) Abroad 2....

. ... . 6927 3024 .. .. . .. .. 9951 ..... 3312 .. . . . .... . ... . 9131 2066 16 2050 2977 0 2977 4088 5691 5235 1251 158 3826 456 952 3285 — 75973 1715 -1715 — Payments 1995-96 -5899 -11359 5460 4078 4604 4794 -190 2133 ..M... -68 .. . .. .. .. . . ... .. .. . . Foreign Investment (I+II) In India (Ii +IIi ) Abroad (Iii + IIii) I. 3293 .. .. 17720 3056 — 3056 7579 8 7571 7085 8018 7632 755 102 6775 386 Receipts 60157 48948 11209 24185 1861 1663 198 22 . .. .. . ... 3745 . . ... ......... . .. 11332 2933 0 2933 4262 10 4252 4137 6453 6172 867 376 4929 281 — 748 600 74752 2936 — 2936 Receipts 55886 43670 12216 20087 1028 824 204 29 . .... . . . . 1641 ... 11459 1601 2183 891 10 -10 2173 901 2874 333 — 20 2874 313 6402 377 8532 2127 7955 2304 1863 790 227 -26 5865 1540 577 -177 711 -711 2262 2310 — 656 102639 6402 6402 -6402 260 -260 6142 -6142 Payments 1999-2000PR (US Dollar Million) 27 Balance of Payments ... 1828 . .. ...... . ... .. .. . . .. . .. . ... Other Capital C. . . 17301 2885 — 2885 7382 11 7371 7034 8910 8164 580 52 7532 746 — 3815 167 98383 — — — Receipts 64424 51187 13237 29448 3913 3779 134 34 ... . ... ... .... Direct i) In India Equity Reinvested Earnings Other Capital ii) Abroad Equity Reinvested Earnings Other Capital II.. Banking Capital a)Commercial Banks i) Assets ii) Liabilities of which: Non-Resident Deposits b) Others 4. .. .... . .. . 3456 .. . 10353 1927 21 1906 2864 135 — 2864 5562 6717 6434 2741 92886 3558 283 802 2801 24253 305 5479 1935 Payments 60068 34298 25770 34170 5892 5743 149 2518 . 4953 . . Monetary Movements i) I. .... . ... .. 3225 . . ......A) CURRENT ACCOUNT (I+II) I) Merchandise (FoB/CIF) II) Invisibles (a+b+c) B) Total Capital Account 1. . ... . .. . 12502 2000 22 1978 3372 — 3372 7130 9803 9424 2775 242 6407 379 767 2463 — 93872 4511 618 3893 Payments 1997-98 PR -5500 -15507 10007 9844 5353 5390 -37 3562 ..... .. . 2661 . . . . . 12925 1955 8 1947 4723 — 4723 6247 5789 5407 1625 357 3425 382 727 2883 594 6793 6793 975 5818 Payments 1996-97 -4619 -14815 10196 12006 5963 6153 -190 2841 .. .. .. . . 795 . . . . 13060 3074 0 3074 3207 20 3187 6779 10659 10259 2653 201 7405 400 — 4572 656 109041 — — — Receipts Net (Contd) 72552 -4698 55383 -17841 17169 13143 30087 10444 7123 5117 6930 5191 193 -74 3 2167 . . 14771 2726 — 2726 7231 124 5 7226 4814 8197 6768 1344 4511 5300 1429 — 3958 32818 — Receipts 1998-99 -3544 -4038 -13246 9208 8435 2312 2412 -100 2480 . Overall Balance (A+B+C) E...F..... . ii) Foreign Exchange Reserves 49987 32311 17676 24165 5632 5632 14 2162 ... . ... 4799 885 -22 907 4010 11 3999 -96 -893 -1260 -2195 -190 1125 367 -767 1352 167 4511 -4511 -618 -3893 Net Appendix 1(C): Balance of Payments : 1990-91 to 2003-04 64106 47544 16562 25735 3580 3331 249 38 ..... .. . . .. .. ... . .. 5573 . 2201 867 -16 883 1285 10 1275 49 762 937 -384 218 1103 -175 -952 -2537 600 -1221 1221 -1715 2936 Net 2629 — 91729 — — — 55538 34133 21405 36191 7824 7816 8 2863 .... .. Portfolio i) In India ii) Abroad 2. 4795 1101 -8 1109 2856 8 2848 838 2229 2225 -870 -255 3350 4 -727 -254 -594 84936 -6793 -975 -5818 Net 58924 35680 23244 39292 9266 9169 97 3596 .. ... . .... Rupee Debt Service 5. . Errors & Omissions D. .... . Loans a) External Assistance i) By India ii) To India b) Commercial Borrowings i) By India ii) To India c) Short term To India 3. ...... . . .. . . . 4418 799 -21 820 4367 -11 5 4362 -748 1480 334 -1397 -88375 1742 1146 -802 1157 8565 -305 Net 67854 37542 30312 40531 12240 12121 119 2170 ... .. ... . . . . ...

These data.M. Overall Balance (A+B+C) E. Loans a) External Assistance i) By India ii) To India b) Commercial Borrowings i) By India ii) To India c) Short term To India 3. Sources: Reserve Bank of India Bulletins. Portfolio i) In India ii) Abroad 2.77719 45452 32267 55542 17720 17650 70 4121 4031 2399 1352 280 70 70 — — 13619 13619 — 23806 2941 0 2941 9621 0 9621 11244 9744 9423 206 9217 8988 321 0 2856 0 131845 1448 0 1448 80385 57912 22473 45524 11858 10859 999 829 — — 829 414 340 75 11029 10859 170 18542 2531 17 2514 5318 5 5313 10693 11705 11305 4380 6925 6672 400 617 2564 305 125976 7316 26 7290 Payments 2000-01R -2666 -12460 9794 10018 5862 6791 -929 3272 4031 2399 1352 280 -757 -344 -340 -75 2590 2760 -170 5264 410 -17 427 4303 -5 4308 551 -1961 -1882 -4174 2292 2316 -79 -617 292 -305 5869 -5868 -26 -5842 Net 81440 44703 36737 43257 15488 15389 99 6229 6130 4096 1644 390 99 99 — — 9259 9259 — 11601 3352 0 3352 2687 3 2684 5562 13870 13385 1267 12118 11435 485 0 2298 0 124697 0 0 0 Receipts 78040 56277 21763 34706 8802 7243 1559 1495 5 5 — — 1490 669 700 121 7307 7238 69 12862 2235 87 2148 4272 0 4272 6355 11006 10725 1711 9014 8681 281 519 1517 194 112940 11757 0 11757 Payments 2001-02 R 3400 -11574 14974 8551 6686 8146 -1460 4734 6125 4091 1644 390 -1391 -570 -700 -121 1952 2021 -69 -1261 1117 -87 1204 -1585 3 -1588 -793 2864 2660 -444 3104 2754 204 -519 781 -194 11757 -11757 0 -11757 Net 95699 53774 41925 46368 14001 13928 73 5168 5095 2825 1832 438 73 73 — — 8833 8833 — 11568 2878 0 2878 3514 9 3505 5176 18958 18422 6089 12333 10214 536 0 1841 0 142067 0 0 0 Receipts 89354 64464 24890 35528 9840 7913 1927 1951 59 59 — — 1892 684 1104 104 7889 7854 35 15418 6006 32 5974 5206 0 5206 4206 8533 8287 976 7311 7236 246 474 1263 200 125082 16985 0 16985 Payments 2002-03 R 6345 -10690 17035 10840 4161 6015 -1854 3217 5036 2766 1498 462 -1819 -611 -519 -106 944 979 -35 -3850 -3128 -32 -3096 -1692 9 -1701 970 10425 10135 5113 5022 2978 290 -474 578 -200 16985 -16985 0 -16985 Net 117705 64723 52982 78613 33105 32894 211 4887 4676 2389 1800 487 211 211 28218 28218 21008 3341 0 3341 6577 3 6574 11090 19470 19135 2007 17128 14281 335 0 5030 318 196636 0 0 0 Receipts 107144 80177 26967 58071 18329 16842 1487 1467 2 2 1749 493 1176 80 16862 16840 22 23856 6083 10 6073 8103 0 8103 9670 13239 12436 1797 10639 10639 803 376 2271 0 165215 31421 0 31421 Payments 2003-04 PR 10561 -15454 26015 20542 14776 16052 -1276 3420 4674 2387 1800 488 -1538 -282 -1176 -80 11356 11378 -22 -2848 -2742 -10 -2732 -1526 3 -1529 1420 6231 6699 210 6489 3642 -468 -376 2759 318 31421 -31421 0 -31421 Net (US Dollar Million) Includes repayment of US dollar 3035 million of government loans effected in Jan-Mar 2003 Data on Foreign Direct Investment (FDI) have been revised since 2000-01 with expanded coverage to approach international best practices. * Notes: A) CURRENT ACCOUNT (I+II) I) Merchandise (FoB/CIF) II) Invisibles (a+b+c) B) Total Capital Account 1. August 2004 and various previous issues Monograph on India’s Balance of Payments. Foreign Investment (I+II) In India (Ii +IIi ) Abroad (Iii + IIii) I. Rupee Debt Service 5.F. Banking Capital a)Commercial Banks i) Assets ii) Liabilities of which:Non-Resident Deposits b) Others 4. therefore. Other Capital C. are not comparable with FDI data for previous years. ii) Foreign Exchange Reserves Receipts Appendix 1(C): Balance of Payments : 1990-91 to 2003-04 (Concluded) Balance of Payments 28 . Direct i) In India Equity Reinvested Earnings Other Capital ii) Abroad Equity Reinvested Earnings Other Capital II. July 1993. Errors & Omissions D. Monetary Movements i) I.

Cr US $ Mn Rs.1a+4.Cr US $ Mn 1956-57 11 25 13 13 37 24 62 95 17 45 62 17 33 33 0 132 249 117 6 13 7 28 47 19 3 9 6 -6 23 29 -6 23 29 (16) 24 53 29 25 53 28 163 199 36 94 130 36 69 69 0 276 523 247 12 27 15 59 99 40 6 19 13 -13 48 61 -13 48 61 (17) Rs.1 Receipts 8 3.2a) 7 B Payments (4.1 Receipts 19 5.1 Receipts 27 6.i.1a Receipts 7 4.Cr US $ Mn 1955-56 Appendix 2: Break-up of Invisibles on Current Account 11 24 13 13 37 24 85 101 16 48 64 16 37 37 0 154 266 112 3 15 12 30 46 16 3 10 7 9 33 24 9 33 24 (14) 23 50 27 28 78 50 234 212 34 100 134 34 78 78 0 324 559 235 7 32 25 63 97 34 6 21 15 19 69 50 19 69 50 (15) Rs.Cr US $ Mn 1951-52 (2) (1) 1950-51 1954-55 9 25 16 16 31 15 60 67 7 41 48 7 19 19 0 101 192 91 -6 7 13 21 33 12 4 8 4 -3 21 24 -3 21 24 (8) 19 53 34 33 65 32 126 141 15 86 101 15 40 40 0 213 404 191 -12 15 27 44 69 25 9 17 8 -6 44 50 -6 44 50 (9) 10 27 17 13 28 15 56 73 17 34 51 17 22 22 0 99 206 107 -4 9 13 25 36 11 4 8 4 -5 25 30 -5 25 30 (10) 21 57 36 27 59 32 117 153 36 71 107 36 46 46 0 209 434 225 -8 19 27 53 76 23 9 17 8 -10 53 63 -10 53 63 (11) Rs.n.1a Receipts 6.2 Payments 3 (4) Income (Net) 1+2 -24 A Receipts (4.2 Payments 8 (3) Insurance (Net) 5 3.1 Receipts 5 1.Cr US $ Mn 1953-54 10 23 13 13 34 21 89 110 21 37 58 21 52 52 0 154 206 112 0 12 12 23 38 15 5 10 5 0 30 30 0 30 30 (12) 21 48 27 27 71 44 187 231 44 78 122 44 109 109 0 293 539 235 0 25 25 48 80 32 10 21 11 0 63 63 0 63 63 (13) Rs.2a Receipts 4.1b Payments (7) Transfer Payments (Net) 37 Receipts 43 Payments 6 Private (Net) 35 Receipts 41 Payments 6 Official (Net) 2 Receipts 2 Payments 0 (8) Total (Net) 43 8.e) 4 5.2 Payments 15 (6) Miscellaneous (Net) 11 6.Cr US $ Mn 1958-59 29 Balance of Payments .1b+4.Cr US $ Mn 1957-58 24 39 15 8 37 29 77 94 17 41 58 17 36 36 0 125 253 128 4 12 8 27 45 18 5 10 5 -20 16 36 -20 16 36 (18) (Contd) 50 82 32 17 78 61 162 198 36 86 122 36 76 76 0 262 533 271 8 25 17 57 95 38 10 21 11 -42 34 76 -42 34 76 (19) Rs.2b Payments (5) Government (G.Cr US $ Mn Rs.1 Receipts 30 2.2b) 31 1.2 Payments 97 (4) 15 53 38 29 65 36 99 211 13 88 101 13 11 110 0 150 379 229 -27 19 46 57 86 29 15 21 6 -38 23 61 -38 23 61 (5) 8 27 19 18 33 15 57 63 6 46 52 6 11 11 0 93 195 102 -1 9 10 13 34 21 6 10 4 -8 19 27 -8 19 27 (6) 17 57 40 37 69 32 119 132 13 96 109 13 23 23 0 194 409 215 -2 19 21 27 71 44 13 21 8 -17 40 57 -17 40 57 (7) Rs. Investment income (net) -24 4.2 Payments 16 of which : software services (net) 6.1b Payments 31 Of which: Interest and service payments on Foreign loans and credit 2.1 Receipts 140 8.1952-53 -13 9 22 27 41 14 7 10 3 -18 11 29 -18 11 29 7 25 18 14 31 17 47 53 6 42 48 6 5 5 0 71 180 109 -25 11 36 46 63 17 11 17 6 -50 15 65 -50 15 65 8 40 32 23 57 34 78 90 13 74 86 13 4 4 0 90 294 204 (1) Foreign Travel (Net) -12 1.2 Payments 17 (2) Transportation (Net) 22 2.Cr US $ Mn (3) Rs. Compensation to employees (net) 4.

1 Receipts 30 6.1 Receipts 8 3.1 Receipts 49 5.Cr US $ Mn 1965-66 (148) 59 852 23 -12 50 62 161 198 37 53 73 20 108 125 17 60 459 399 3 18 15 35 81 46 7 12 5 -193 18 211 -193 18 211 (34) (211) 96 134 38 -19 82 101 102 323 61 86 119 33 16 204 28 98 749 651 5 29 24 57 132 75 12 20 8 -315 29 344 -315 29 344 (35) Rs.3 11 120 Rs.1 Receipts 254 8.n.1 Receipts 14 1.Cr US $ Mn (21) Rs. Investment income (net) -33 4.2 Payments 141 (22) (71) 63 107 44 4 78 74 154 190 36 59 95 36 95 95 0 174 546 372 6 32 25 42 95 53 4 17 13 -101 29 130 -101 29 130 (23) (46) 6 30 24 -3 36 39 71 87 16 25 41 16 46 46 0 32 235 203 4 15 11 21 48 27 1 7 6 -68 12 80 -68 12 80 (24) (96) 13 63 50 -6 72 82 149 183 34 52 86 34 97 97 0 68 495 427 9 32 23 44 101 57 2 15 13 -113 25 138 -113 25 138 (25) Rs.2 Payments 29 of which: software services (net) 6.2a Receipts 4.9 135.1a+4.1b+4.2 Payments 12 (6) Miscellaneous (Net) 1 6.Cr US $ Mn 1964-65 8 18 10 25 57 32 2 7 5 -108 11.4 119.2 Payments 5 (4) Income (Net) 1+2 -33 A Receipts (4. Compensation to employees (net) 4.9 25 42 17 142 152 10 151 406 255 (150) 170 202 32 -49 48 97 350 407 57 52 88 36 298 319 21 316 853 537 17 38 21 53 120 67 4 15 11 -229 23 252 -229 23 252 (31) Rs.Cr US $ Mn Rs.1a Receipts 14 4.Cr US $ Mn Rs.Cr US $ Mn 1960-61 (20) (1) 1959-60 1963-64 (58) 25 50 25 -11 33 44 103 117 14 26 40 14 77 77 0 62 284 222 4 16 12 21 49 28 3 8 5 -83 11 94 -83 11 94 (26) (122) 52 105 53 -23 69 92 217 246 29 55 84 29 162 162 0 131 597 466 9 34 25 44 103 59 6 17 11 -174 23 197 -174 23 197 (27) (67) 46 70 24 -14 33 47 117 130 13 34 47 13 83 83 0 93 326 233 6 17 11 28 57 29 2 8 6 -92 11 103 -92 11 103 (28) (77) 97 147 50 -30 69 99 246 273 27 72 99 27 174 174 0 196 685 489 13 36 23 59 120 61 4 17 13 -193 23 216 -193 23 216 (29) (30) (76) 81 96 15 -23 23 46 167 194.3 63 78 16 92 104 12 73 316 273 4 15 11 26 54 28 6 12 6 -124 10.7 -108.e) 37 5.2 Payments 10 (2) Transportation (Net) 23 2.2b) 47 1.2a) 14 B Payments (4.2b Payments (5) Government (G.Cr US $ Mn 1966-67 (168) 56 81 25 -24 43 67 123 160 37 53 72 19 70 88 18 -5 437 442 11 26 15 34 94 60 6 13 7 -233 25 258 -233 25 258 (36) (Contd) (224) 75 108 33 -32 57 89 164 213 49 71 96 25 93 117 24 -6 582 588 15 35 20 45 125 80 8 17 9 -281 27 308 -281 27 308 (37) Rs.2 27.2 Payments 22 (3) Insurance (Net) 3 3.1 Receipts 45 2.Cr US $ Mn 1967-68 Balance of Payments 30 .1b Payments 47 Of which: Interest and service payments on Foreign loans and credit 2.3 26.1b Payments (7) Transfer Payments (Net) 78 Receipts 94 Payments 16 Private (Net) 40 Receipts 56 Payments 16 Official (Net) 38 Receipts 38 Payments 0 (8) Total (Net) 113 8.1a Receipts 6.i.2 11 135 (32) (170) 63 97 34 -48 55 103 323 382 59 130 164 34 193 218 25 152 727 575 9 32 23 54 113 59 12 25 13 -261 23 284 -261 23 284 (33) Rs.1961-62 3 15 12 20 45 25 2 8 6 -48 14 62 -48 14 62 (34) 30 51 21 2 37 35 28 45 17 28 45 17 0 0 0 83 260 177 8 29 21 49 95 46 6 17 11 -70 29 99 -70 29 99 78 103 25 2 63 61 164 198 34 84 118 34 80 80 0 237 534 297 (1) Foreign Travel (Net) 4 1.Cr US $ Mn 1962-63 Appendix 2: Break-up of Invisibles on Current Account (91) 30 46 16 -24 26 49 155 182.1 -124.

1 Receipts 22 5. Investment income (net) -233 4.i.n.1a Receipts 25 4.2 Payments 43 (6) Miscellaneous (Net) -8 6.1 Receipts 13 3.1b Payments 258 Of which: Interest and service payments on Foreign loans and credit (184) 2.Cr US $ Mn Rs.Cr US $ Mn 1971-72 (241) 11 33 22 -42 49 91 1896 1925 1896 146 158 12 1750 1767 17 1646 2281 636 48 65 17 44 145 102 7 21 14 -318 44 362 -318 44 362 (48) (308) 14 42 28 -53 62 115 2411 2448 2411 186 201 15 2225 2247 22 2093 2902 809 61 83 22 56 185 129 9 26 17 -405 56 461 -405 56 461 (49) Rs.Cr US $ Mn 1976-77 (217) 755 762 7 -65 187 252 1138 1156 18 755 762 7 383 394 11 1204 2204 1000 237 276 38 47 295 248 2 32 30 -189 176 365 -189 176 365 (54) (Contd) (242) 37 93 56 -73 209 282 1274 1294 20 845 853 8 429 441 12 1347 2466 1119 265 308 43 53 330 277 2 35 33 -211 197 408 -211 197 408 (55) Rs.1 Receipts 59 6.2 Payments 466 1969-70 Rs.Cr US $ Mn Rs.2 Payments 14 (2) Transportation (Net) 34 2.Cr US $ Mn 1968-69 1972-73 (199) 5 29 24 -31 48 79 220 274 220 104 116 12 116 158 42 -24 546 570 13 33 19 43 111 68 -6 14 19 -269 37 306 -269 37 306 (44) (267) 7 39 32 -42 64 106 296 368 296 140 156 16 156 212 56 -33 731 764 18 44 26 57 149 92 -8 18 26 -361 49 410 -361 49 410 (45) (218) 8 31 23 -35 47 82 107 229 107 99 111 11 8 118 110 -144 514 658 20 39 19 50 121 71 4 16 12 -298 31 329 -298 31 329 (46) (291) 11 40 19 -45 61 106 139 296 139 128 143 15 11 153 142 -187 664 851 25 50 25 64 156 92 5 21 16 -386 40 426 -386 40 426 (47) Rs.1 Receipts 99 2.2a) 25 B Payments (4.(190) 3 27 24 -23 44 67 152 183 31 84 98 14 68 85 17 -62 440 502 (253) 4 36 32 -30 59 89 202 244 42 112 131 19 90 113 23 -83 586 669 (204) 7 30 23 -47 31 78 210 229 210 88 101 13 122 128 6 -37 496 533 19 37 18 30 109 79 0 12 12 -254 49 303 -254 49 303 (271) 9 40 31 -63 41 14 280 306 280 117 135 17 163 171 8 -49 661 711 25 49 24 40 145 105 0 16 16 -339 65 404 -339 65 404 (43) (245) 29 57 29 -10 79 89 245 287 42 102 123 21 143 164 21 20 641 621 29 49 20 40 136 96 0 17 17 -328 45 373 -328 45 373 (42) 22 37 15 30 102 72 0 13 13 -246 34 280 -246 34 280 17 36 19 45 132 87 5 12 17 -311 33 344 -311 33 344 (41) (40) (39) (1) (38) 1970-71 (1) Foreign Travel (Net) 13 1.Cr US $ Mn 1973-74 Appendix 2: Break-up of Invisibles on Current Account 1974-75 (217) 45 75 30 -17 83 100 367 383 367 229 235 6 138 148 10 331 985 654 88 103 15 85 218 133 12 26 14 -248 98 346 -248 98 346 (50) (274) 56 94 38 -21 104 125 460 481 460 287 295 8 173 186 13 416 1236 820 110 129 19 107 273 166 16 33 17 -312 122 434 -312 122 434 (51) Rs.1b+4.2 Payments 65 (3) Insurance (Net) 4 3.Cr US $ Mn 1975-76 (199) 72 104 33 -20 151 171 919 940 919 441 454 13 478 486 8 1005 1815 810 187 209 22 61 256 196 11 36 24 -224 119 343 -224 119 343 (52) (229) 83 121 38 -23 175 198 1061 1085 24 509 524 15 552 561 9 1162 2097 935 216 241 25 70 296 226 13 41 28 -258 138 396 -258 138 396 (53) Rs.Cr US $ Mn Rs.2 Payments 9 (4) Income (Net) 1+2 -233 A Receipts (4.1a Receipts 6.2b Payments (5) Government (G.1a+4.2a Receipts 4.2b) 258 1. Compensation to employees (net) 4.2 Payments 67 of which: software services (net) 6.e) 9 5.Cr US $ Mn 31 Balance of Payments .1b Payments (7) Transfer Payments (Net) 183 Receipts 215 Payments 32 Private (Net) 76 Receipts 92 Payments 16 Official (Net) 107 Receipts 123 Payments 16 (8) Total (Net) 15 8.1 Receipts 481 8.1 Receipts 27 1.

Cr US $ Mn 1984-85 (1313) 21 105 84 1064 2362 1298 3541 3560 19 2967 2982 15 574 578 4 3849 8243 4394 489 898 409 -274 644 918 5 89 84 -996 586 1582 -996 586 1582 (70) (3536) 18 88 71 895 1987 1092 2979 2995 16 2496 2509 13 483 486 3 3237 6933 3696 411 755 344 -230 542 772 4 75 71 -838 493 1331 -838 493 1331 (71) Rs.Cr US $ Mn 1985-86 (1372) -7 116 124 899 2063 1164 3128 3156 28 2701 2716 15 427 440 13 3630 7830 4245 778 1189 412 212 604 816 -5 79 83 -950 669 1619 -950 669 1619 (72) (Contd) (1121) -6 95 101 735 686 951 2557 2579 22 2208 2220 12 349 359 10 2967 6437 3470 636 972 336 -173 494 667 -4 64 68 -776 547 1323 -776 547 1323 (73) Rs.1b Payments (7) Transfer Payments (Net) 1484 Receipts 1502 Payments 19 Private (Net) 1102 Receipts 1108 Payments 7 Official (Net) 382 Receipts 394 Payments 12 (8) Total (Net) 1722 8.Cr US $ Mn (56) (1) 1977-78 Rs.1a Receipts 6.Cr US $ Mn 1981-82 (290) 41 88 47 88 751 663 2717 2733 16 2125 2137 12 592 596 4 3997 5667 1672 874 964 90 6 361 355 17 51 34 257 724 467 257 724 467 (62) (355) 51 111 60 111 951 840 3442 3462 20 2692 2707 15 750 755 5 5063 7181 2118 1107 1221 114 8 457 449 22 65 43 325 917 592 325 917 592 (63) (1121) 72 131 59 29 818 789 2514 2534 20 2066 2083 17 448 451 3 3655 5664 2008 920 1064 144 -85 398 483 15 55 40 191 666 475 191 666 475 (64) (1533) 80 146 66 32 912 880 2805 2827 22 2305 2324 19 500 503 3 4078 7231 2239 1026 1186 161 -95 444 539 17 61 45 213 743 530 213 743 530 (65) Rs. Investment income (net) -212 4.2 Payments 44 (2) Transportation (Net) 65 2.2 Payments 31 (4) Income (Net) 1+2 -212 A Receipts (4.Cr US $ Mn Rs.2a) 222 B Payments (4.1 Receipts 2767 8. Compensation to employees (net) 4.1b+4.1 Receipts 35 3.Cr US $ Mn 1982-83 Appendix 2: Break-up of Invisibles on Current Account 1983-84 (1503) 20 139 118 505 1615 1110 3030 3037 17 2638 2638 10 392 399 7 3609 6893 3284 834 1075 242 -276 440 715 39 114 75 -543 463 1006 -543 463 1006 (68) (2560) 19 134 114 488 1561 1074 2931 2947 16 2552 2561 9 379 386 7 3489 6666 3176 807 1040 234 267 426 691 38 110 72 -525 448 973 -525 448 973 (69) Rs.2b) 434 1.2 Payments 44 (6) Miscellaneous (Net) 17 6.1b Payments 434 Of which: Interest and service payments on Foreign loans and credit (267) 2.Cr US $ Mn Balance of Payments 32 .2 Payments 216 (3) Insurance (Net) 4 3.1 Receipts 373 1.2 Payments 1046 (58) (57) (326) 27 110 83 63 460 397 1980 1706 26 1332 1352 20 648 354 6 2406 3882 1476 437 516 79 55 342 287 -1 44 45 -155 404 559 -155 404 559 (59) (280) -1 86 88 -33 529 562 2249 2269 21 1754 1762 8 495 507 13 2887 4386 1500 497 585 88 69 321 253 18 46 28 89 549 460 89 549 460 (60) (346) -2 107 109 -41 655 696 2784 2810 26 2172 2182 10 612 628 16 3573 5431 1858 615 724 109 85 398 313 22 57 35 110 680 570 110 680 570 (61) Rs.1 Receipts 281 2.2b Payments (5) Government (G.e) 33 5.Cr US $ Mn 1980-81 (1200) 43 107 64 279 1077 798 2796 2817 21 2417 2431 14 379 386 7 3439 6062 2622 946 1131 185 -291 407 699 -11 58 69 -323 465 788 -323 465 788 (66) (1949) 44 111 66 289 1114 826 2892 2914 22 2500 2515 15 392 399 7 3558 6271 2713 979 1170 191 -301 421 723 -11 60 71 -334 481 815 -334 481 815 (67) Rs.i.1a Receipts 222 4.n.1 Receipts 275 6.Cr US $ Mn Rs.1a+4.2 Payments 258 of which: software services (net) 6.1 Receipts 78 5.2a Receipts 4.1978-79 1979-80 359 423 65 45 280 235 -1 36 37 -127 331 458 -127 331 458 (268) 23 90 68 52 377 326 1625 1646 22 1093 1110 17 532 536 5 1974 3184 1211 384 436 52 76 328 252 5 41 36 -247 259 506 -247 259 506 (311) 39 91 52 20 322 302 1734 1756 22 1287 1295 8 447 461 14 2011 3233 1222 (1) Foreign Travel (Net) 329 1.

1 Receipts 83 3.Cr US $ Mn Rs.2b) 1890 1.2 Payments 371 (2) Transportation (Net) -60 2.1a+4.Cr US $ Mn 1991-92 Appendix 2: Break-up of Invisibles on Current Account 1992-93 (87) 1713 2098 385 -503 982 1485 12 158 146 -3423 376 3799 -3423 376 3799 (2201) (10865) -86 -25 220 75 306 100 -413 -68 4129 1417 4542 1485 12280 4215 12317 4228 37 13 11226 3852 11261 3864 35 12 1054 363 1056 364 2 1 4475 1912 27042 9334 22567 7413 4884 6061 1177 -1697 2851 4548 10 460 450 -10503 1004 11507 -10503 1004 11507 (86) Rs.2b Payments (5) Government (G.Cr US $ Mn 1993-94 (89) 1725 2222 497 -332 1433 1765 -71 124 195 -3270 395 3665 -3270 395 3665 (2912) (12851) -387 -123 94 30 481 153 -2082 -664 4563 1455 6645 2119 17670 5633 17753 5660 83 27 16514 5265 16582 5287 68 22 1156 368 1171 373 15 5 9089 2898 35501 11319 26412 8421 5412 6971 1559 -1043 4494 5537 -1223 388 611 -10258 1238 11496 -10258 1238 11496 (88) Rs.1 Receipts 8274 8.1 Receipts 688 2.2a) 641 B Payments (4.Cr US $ Mn 33 Balance of Payments .1 Receipts 133 5.1 Receipts 1606 1.2 Payments 136 (6) Miscellaneous (Net) 118 6.967 1257 290 -47 538 585 -15 65 80 -978 501 1479 -978 501 1479 (1200) -2 104 106 92 1254 1162 2740 2755 16 2329 2340 12 411 415 4 2758 6475 3718 (75) (74) (1) Foreign Travel (Net) 1236 1.n.Cr US $ Mn Rs. Investment income (net) -1249 4. Compensation to employees (net) 4.1b+4.i.Cr US $ Mn 1988-89 (77) 1055 1432 376 -190 680 870 -1 81 82 -1337 446 1783 -1337 446 1783 (1949) (1503) -61 -47 121 93 182 40 -353 -272 1668 1286 2021 1558 4030 3109 4069 3138 37 29 3498 2698 3533 2725 34 26 532 411 536 413 3 3 3004 2317 9279 7156 6275 4840 1368 1856 488 -246 882 1128 -1 106 107 -1733 579 2312 -1733 579 2312 (76) (2560) -94 118 212 -169 2118 2287 4566 4598 33 3842 3865 24 724 733 9 3146 10926 7781 1467 2054 586 -187 1300 1487 41 136 95 -2478 603 3081 -2478 603 3081 (78) (1768) -65 82 147 -117 1462 1579 3153 3171 23 2653 2669 17 500 502 6 2172 7545 5373 1013 1418 405 -129 898 1027 28 94 66 -1711 416 2127 -1711 416 2127 (79) Rs.Cr US $ Mn 1989-90 (6346) -250 42 292 527 4840 4343 10522 10560 38 9382 9419 37 1140 1141 1 4259 23449 19190 3780 4892 1112 -882 2308 3190 -42 265 307 -9396 542 9938 -9396 542 9938 (84) (2590) -102 17 119 165 1981 1816 4243 4259 16 3783 3798 15 460 461 1 1620 9502 7882 1512 1977 465 -350 939 1289 -18 108 126 -3830 221 4051 -3830 221 4051 (85) Rs.Cr US $ Mn 1994-95 (91) 1547 2365 818 -167 1696 1863 -29 152 181 -3431 886 4317 -3431 886 4317 (Contd) (3045) (13811) -491 -155 28 10 519 165 -1866 -594 6003 1912 7869 2506 26726 8509 26797 8533 71 24 25417 8093 25474 8112 57 19 1309 416 1323 421 14 5 17835 5680 48838 15554 31003 9874 4854 7424 2570 -524 5328 5852 -91 476 567 -10773 2782 13555 -10773 2782 13555 (90) Rs.2 Payments 102 (4) Income (Net) 1+2 -1249 A Receipts (4.2 Payments 1485 of which: software services (net) 6.2 Payments 748 (3) Insurance (Net) -19 3.2a Receipts 4.1a Receipts 6.Cr US $ Mn 1987-88 1990-91 (81) 1031 1433 403 -208 907 1115 35 119 84 -1990 413 2403 -1990 413 2403 (3536) (2124) -159 -96 52 31 211 127 -64 -38 2924 1756 2988 1796 4695 2820 4726 2839 31 19 3798 2281 3824 2297 26 16 897 539 902 542 5 3 2583 1550 12484 7498 9901 5940 1716 2386 670 -346 1511 1857 58 198 140 -3316 688 4004 -3316 688 4004 (80) (83) 1064 1456 392 -110 983 1093 23 111 88 -3752 368 4120 -3752 368 4120 (4958) (2763) -283 -158 27 15 310 173 290 161 3565 1986 3275 1825 4539 2530 4567 2545 28 15 3712 2069 3737 2083 25 14 827 461 830 462 3 1 -433 -242 13396 7464 13829 7706 1910 2613 703 -196 1765 1961 40 199 159 -6733 660 7393 -6733 660 7393 (82) Rs.2 Payments 4751 (1) 1986-87 Rs.1b Payments 1890 Of which: Interest and service payments on Foreign loans and credit (1533) 2.1a Receipts 641 4.1 Receipts 1603 6.e) -3 5.1b Payments (7) Transfer Payments (Net) 3501 Receipts 3521 Payments 20 Private (Net) 2976 Receipts 2991 Payments 15 Official (Net) 525 Receipts 530 Payments 5 (8) Total (Net) 3524 8.

2a) 4732 1429 3812 1073 5795 1561 B Payments (4.Cr US $ Mn Balance of Payments 34 .Cr US $ Mn Rs.1 Receipts 6764 2011 6942 1953 6805 1836 2.Cr US $ Mn 1996-97 Rs.2 Payments 7280 2169 8497 2394 9353 2522 (3) Insurance (Net) 121 36 228 64 210 57 3. 98 117 19 65 293 228 4324 14253 9929 8863 9600 737 16838 17640 802 16387 17189 802 451 451 0 17035 41925 24890 -29 3312 3341 -736 2536 3272 19 369 350 -3446 3522 6968 -3544 3405 6949 (107) Rs. Investment income (net) -10716 -3205 -11767 -3307 -13204 -3521 4.Cr US $ Mn 2003-04 .1a+4.i. -3126 (709) 3835 323 1299 976 22551 77379 54828 53912 55986 2074 107391 108999 1608 104819 106427 1608 2572 2572 119287 243103 123816 2762 18873 16111 4255 14958 10703 255 1927 1672 -18250 19668 37918 -15124 18959 34083 (108) ..1 Receipts 9150 2713 10232 2878 10880 2914 1..26308 11064 2626 17412 4016 29013 1461 348 1600 138 2705 44542 10587 54789 12638 59967 44799 10649 54939 12672 60948 257 62 150 34 981 43242 10280 53132 12256 58811 43494 10341 53280 12290 59792 252 61 148 34 981 1300 307 1657 382 11156 1305 308 1659 382 1156 5 1 2 0 38689 9208 57028 12935 45139 108459 25770 131449 30324 147778 69770 16562 74421 17389 102639 897 3036 2139 -665 1745 2410 114 236 122 -3423 2079 5502 -3559 1931 5490 (101) 693 3497 2804 -1512 2046 3558 47 270 223 -5004 2682 7686 -4664 2554 7218 3898 13166 9268 -3050 7400 10450 479 1004 525 -14842 9019 23861 -15431 8373 23804 (100) 3323 16064 12741 -6808 9364 16172 230 1234 1004 -22733 12275 35008 -21195 11690 32885 1250 2993 1743 -755 1925 2680 112 224 112 -3519 1977 5496 -3544 1935 5479 (99) (102) (1) (98) 2000-01 5277 2603 7326 -3157 8109 11266 473 945 472 -14855 8313 23168 -14967 8133 23100 1999-00 (97) 1998-99 (1) Foreign Travel (Net) 5241 1546 7183 2020 5541 1477 1. 473 565 92 312 1417 1105 20967 48000 68967 42859 46424 3565 81403 85289 3886 79229 83115 3886 2174 2174 82357 202757 120400 -164 15991 16155 -3567 12261 15828 96 1783 1687 -16690 17049 33739 -17163 16484 33647 (106) .2 Payments 478 143 543 153 680 183 (4) Income (Net) 1+2 -10716 -3205 -11767 -3307 -13204 -3521 A Receipts (4. Compensation to employees (net) 4.2b Payments (5) Government (G.1a Receipts 4732 1429 3812 1073 5795 1561 4.Cr US $ Mn Appendix 2: Break-up of Invisibles on Current Account (Concluded) 2001-02 (25778) -1725 593 2318 1118 2467 1349 20257 52597 32340 32836 36038 3202 75560 77289 1729 73363 75092 1729 2197 2197 71381 175108 103727 639 14975 14336 -6160 10326 16486 35 1374 1339 -20068 16080 36148 -18343 15487 33830 (104) (2870) -362 125 487 235 518 283 4264 11036 6772 15856 16218 362 15856 16218 362 15398 15760 362 458 458 14974 36737 21763 123 3137 3014 -1306 2161 3467 8 288 280 -4206 3379 7585 -3844 3254 7098 (105) Rs.2 Payments 41028 12216 39814 11209 49323 13237 1997-98 Rs.1b Payments 829 223 (7) Transfer Payments (Net) 29833 8851 45425 12777 45183 12209 Receipts 29963 8890 45716 12858 45348 12254 Payments 130 39 291 81 165 45 Private (Net) 28660 8506 43969 12367 43765 11830 Receipts 28769 8539 44209 12435 43930 11875 Payments 109 33 240 68 165 45 Official (Net) 1173 345 1456 410 1418 379 Receipts 1194 351 1507 423 1418 379 Payments 21 6 51 13 0 0 (8) Total (Net) 18415 5449 36279 10196 36922 100007 8.(93) (94) (95) Source: RBI (2003).2 Payments 724 218 636 178 594 160 (6) Miscellaneous (Net) -4868 -1416 -2856 -811 1296 355 6..1 Receipts 59443 17665 76093 21405 86245 23244 8.1 Receipts 8191 2430 8363 2354 15489 4163 6.Cr US $ Mn 1995-96 Rs.Cr US $ Mn Rs.Cr US $ Mn Rs.1a Receipts 6570 1760 6.Cr US $ Mn 2002-03 . Handbook of Statistics on the Indian Economy. -681 (155) (836) 70 282 212 4924 16865 11941 11750 12200 450 23396 23746 350 22833 23183 350 563 563 0 26015 52982 26967 611 4122 3511 929 3260 2331 57 420 363 -3972 4287 8259 -3291 4132 7423 (109) Rs..2 Payments 3909 1167 3049 858 5339 1437 (2) Transportation (Net) -516 -158 -1555 -441 -2548 -686 2.1 Receipts 44 13 257 72 1038 276 5. (92) (96) (3542) -340 128 468 332 651 319 2132 9804 7672 5750 6341 591 13106 13317 211 12854 13065 211 252 252 9794 32267 22473 (103) (23100) (3045) (23804) (3186) (28237) 112 25 589 136 -1538 180 42 646 148 585 68 17 57 12 2123 1160 272 1356 312 1526 2520 597 2523 582 2986 1360 325 1167 270 1460 5361 1286 14987 3198 9634 31350 7447 44044 10122 44907 25989 6161 29057 6924 35273 .1b Payments 15448 4634 15579 4380 18999 5082 Of which: Interest and service payments on Foreign loans and credit (3186) (16215) (15579) (2201) (18999) (2912) 2.2 Payments 13059 3846 11219 3165 14193 3808 of which: software services (net) 6.2a Receipts 4.1 Receipts 599 179 771 217 890 240 3.1b+4.2b) 15448 4634 15579 4380 18999 5082 1.e) -680 -205 -379 -106 444 116 5.n.

0 582.0 13166.8 2347.0 C..6 .8 118. Cr) 247 5 43 .8 243...0 819.5 392 B Payments Business Health Related EducationRelated Basic travel quota ( BTQ) Pilgrimage Others (includes settlements of international credit cards) TOTAL-B A Receipts Tourist Expenses in India TOTAL-A Item C. 51 395 2713 628 2282 1281 2 122 483 69 325 2910 2910 (24) (US $ Mn) 2001-02 (Rs.0 5490.0 12. 64 510 2878 2001-02 (Rs.0 9..0 10869.8 Health Related 9.8 1558.3 13. 22 79 2222 2222 (8) (US $ Mn) 1993-94 6970.0 1132.0 1557.0 1554.0 6970. Cr) 3011.8 2878 (14) (US $ Mn) 1996-97 10231.0 16.0 292.0 2914 10880.5 3049.0 333.5 (2) 1456 1990-91 (US $ Mn) 2612.5 ..1 2657.0 643 6 57 340 85 306 2914 (16) 10880.0 12604.0 1256.0 6098.8 4100.0 9268.9 Others 171. Travel Net (A-B) 1998-99 5278.. Cr) 1512 465 284 23 58 .4 (includes settlements of international credit cards) TOTAL-B 702.0 329.0 4891.0 (23) 1546 1167 702 5 65 . 21 100 1977 2098 (6) 5411..0 2293.. Cr) 5241.0 1111.8 2365 (10) (US $ Mn) 1994-95 7423.0 6060.0 333. 100.0 13880. April 1999 Monograph on India’s Balance of Payments.5 3908.0 13880.1 136. Cr) PR : Partially revised.0 21. 172.8 (13) (Rs. Cr) 7182.0 (17) 1713 385 271 4 39 .9 1977 (4) (US $ Mn) 1991-92 4891.2 .8 96.0 14505.3 (Rs. Cr) 35 Balance of Payments .0 (19) 897 2139 1268 3 61 379 137 291 3036 3036 (20) 1999-00PR (US $ Mn) 1725 497 379 5 34 .0 7326.3 2569.9 (3) (Rs.6 9150.7 5935.3 16.3 3898.0 1554.0 2293..0 1532.4 1997-98 (Rs.0 15.6 218.0 6098. 11 97 1456 2612. 69.5 1815. 49.0 (25) 628 2282 1281 2 122 483 69 325 2910 2910 (26) (US $ Mn) 2020 858 320 4 24 .0 13136. Cr) Appendix 2(A): Travel Account : 1990-91 to 2001-02 3011.5541.. Cr) 1064 2391.9 832.0 1770. 226.2 53. 32 187 2365 294 2874 1570 3 83 652 179 387 3168 3168 (22) (US $ Mn) 2000-01 (Rs. Cr) (Rs.0 40.0 9.8 17.2 2872. Cr) 1369.0 582.7 149.0 378.0 (21) 1547 818 578 5 48 .0 602. Travel Net (A-B) 679.7 .0 3687. May 2003.0 1910. July 1993 1477 1437 5339.0 12604.0 1262.0 263.6 7423. Cr) 4854. 17 71 2098 1250 1743 877 9 52 363 69 373 2993 2993 (18) (US $ Mn) 4883.2 106.0 7177.0 13880.0 13880. Sources: Reserve Bank of India Bulletin.3 (5) (Rs.3 1136.0 1638.0 210.3 (7) (Rs..0 14505.6 3920.5 (1) B Payments Business 443.5 .0 218..6 . January 2001.0 13.3 2713 (12) (US $ Mn) 1995-96 9150.9 10231.0 13166..8 (9) (Rs..5 A Receipts Tourist Expenses in India TOTAL-A Item (Rs. Cr) (US $ Mn) 1992-93 6060.0 10869.5 EducationRelated 77.0 2977.5 1189.0 (15) (US $ Mn) 3780.8 Basic travel quota ( BTQ) . Pilgrimage 19.3 (11) (Rs. 53.4 1176.

.. 5.. 3.1 26. .2 1...7 1. .7 0. .4 (6) 21..5 11..0 13..2 1.1 22. 18.1 5.5 13.9 4...4 - 14. .1 4..Net (A-B) B Total Payments 1 Remittances of surplus passage fare and frieght collections to foreign steamship owners or operators abroad* 2 Operating expenses of Indian steamship companies in India** 3 Remittances of surplus passage fare and frieght collections to foreign airlines operator or owners abroad 4 Operating expenses of Indian air line companies in India 5 Operating expenses of foreign steamship and air-line companies 6 Charter hire payments 7 Remittances of passage expenses 8 Freight payment on exports 9 Frieght payment on imports 10 Transportation payment of oil-companies@ 11 others A Total Receipts 1 Remittances of surplus passage fare and frieght collections by Indian steamship owners or operators abroad* 2 Operating expenses of foreign steamship companies in India** 3 Remittances of surplus passage fare and frieght collections by Indian airlines operator or owners abroad 4 Operating expenses of foreign air line companies in India 5 Estimated freight on exports 6 Transportation receipts of oil companies*** 7 Others Item 23.. .6 5. .0 45... 27..3 12.1 9.9 1.5 0.9 1.2 11.1 78.6 0. ... 22. .9 4.7 (9) 1956-57 1957-58 1958-59 1959-60 1960-61 1961-62 1962-63 1963-64 1964-65 25. .9 9.3 11.8 99.1 (16) (Contd) 49.6 21..3 32.6 101.8 8.8 25.1 94. 8.6 2.. .9 28.4 .7 . 2.. 3.. .. 6.1 3.6 71. ..4 6..6 (1) .. 2. 8..4 1.1 . . .9 24.8 ..6 11.6 . ..3 8.8 9. 16..9 .8 57.3 27. 8.1 - 11..5 26.9 24.1 (11) 34. 17. .4 2..8 31.0 53.4 .5 47.5 7.4 25.1 3.8 3..5 46...5 72.6 (12) 34.5 5. .7 15. .6 4...0 - - - 6..7 .3 6.7 (8) 24.5 4.8 8.6 .7 27.8 53..9 8..0 3..5 27.. . ...9 .0 2.1 18.9 .7 0. .1 33. .1 1.4 0.6 .5 11. .5 5. .4 56.5 - - 17.3 24. .3 61.0 ..2 0.9 0.0 15..1 55.0 4. .3 (13) 29.. .9 - 0.5 12.3 23.2 10.5 .6 12..8 11. .. .3 3.1 30.5 0.1 . 3.1 19.0 .1 55.4 8..1 - - 10.1 3. ..4 108.1 - - 20.3 0.. 2...4 (3) 20..3 7.4 19.3 - - 10..5 - 0.9 .7 (2) 10.8 12.3 6.9 120.0 44. .3 5. .5 8.. .7 2. 3.3 (10) 35..5 9. ..9 0.9 (17) 1965-66 1966-67 1967-68 1968-69 1969-70 1970-71 1971-72 1972-73 Appendix 2 (Bi): Transportation Account: 1956-57 to 1989-90 Balance of Payments 36 .3 (4) 9.9 .4 0.9 (15) 43..1 . 3...7 49. 1. .. 8.. 2..3 17. .3 .0 - 0.5 30.. .2 14. 1. ..1 8. 1.1 .0 9.6 17... .4 0. ..4 11.4 6.7 9. 7..9 16.5 6.6 5..8 .7 . .4 47.1 1.9 2. .3 5.2 8..3 1.1 7.1 (14) 30.9 12. .6 5.0 68.2 8.1 2. 15.7 23. .6 111.3 7......7 (7) 28.5 49. 8.1 26. 3. .6 31.3 5.0 46.0 .. 17.6 2.3 1.1 4.4 . .1 65. .0 9..0 24...0 1.5 9.8 1.1 (5) 21.0 .6 .. .8 81.4 . .7 10...3 42.. .1 45. .7 2....0 8. .8 5.3 3. .3 - - 5.1 3. . .1 19. ...0 2.3 .4 . . 3.6 15.0 .1 4. 2.1 28.5 5.4 59.1 - 11.1 - - 3.4 74.5 21.3 - 0. 3. . 9.4 3.5 28.

5 8.2 1.0 - 2.4 218.1 - Reserve Bank of India Bulletin.7 123.2 117.9 - 6.0 0.2 24.4 2.8 69.4 27.4 - 10.1 215.3 (24) 5.0 407.7 11.8 8.4 (33) -346.6 0.2 0.3 23.9 58.1 12.7 4.7 3.2 496.2 17.8 335.2 26.8 4.4 74.0 - 11.3 132.5 562.4 (29) -212.7 9.3 1.3 (34) 1982-83 1983-84 1984-85 1985-86 1986-87 1987-88 1988-89 1989-90 Appendix 2 (Bi): Transportation Account: 1956-57 to 1989-90 (Concluded) 1973-74 1974-75 1975-76 1976-77 1977-78 1978-79 1979-80 1980-81 1981-82 37 Balance of Payments .8 (25) -84.3 332.7 10.6 32.3 698. April 1999 Monograph on India’s Balance of Payments.6 101.0 360.3 117.8 11.7 (18) 60.1 247.2 - 4.4 (28) -274.5 808.6 8.2 51.4 (32) -186.8 25.1 75.5 2.3 - 6.5 5.1 235.6 - 6.2 105.2 5.7 - 0.1 280.7 262.3 - 16.3 2.0 35.3 (21) 10.9 2.7 - 4.6 353.7 0.9 1.5 645.4 4.0 - 3.5 62.2 1856.5 145.4 18.8 5.7 42.1 - 5.1 - 2.3 1.7 - 0.8 168.0 1.4 35.0 64.0 1299.8 101.7 (26) -291.1 28.8 318.7 28.6 37.2 74.5 10.4 10.1 - 3.0 255.5 252.2 6.3 360.8 17.0 917.1 439.Sources: - 125.0 61.8 107.5 643.5 3.7 2.4 21.5 49.9 1510. July 1993 Net (A-B) B Total Payments 1 Remittances of surplus passage fare and frieght collections to foreign steamship owners or operators abroad* 2 Operating expenses of Indian steamship companies in India** 3 Remittances of surplus passage fare and frieght collections to foreign airlines operator or owners abroad 4 Operating expenses of Indian air line companies in India 5 Operating expenses of foreign steamship and air-line companies 6 Charter hire payments 7 Remittances of passage expenses 8 Freight payment on exports 9 Frieght payment on imports 10 Transportation payment of oil-companies@ 11 others A Total Receipts 1 Remittances of surplus passage fare and frieght collections by Indian steamship owners or operators abroad* 2 Operating expenses of foreign steamship companies in India** 3 Remittances of surplus passage fare and frieght collections by Indian airlines operator or owners abroad 4 Operating expenses of foreign air line companies in India 5 Estimated freight on exports 6 Transportation receipts of oil companies*** 7 Others Item 45.9 9.8 59.8 10.5 17.6 3.2 4.2 24.9 18.2 280.9 747.4 2.7 85.7 305.4 62.4 7.1 - 2.1 283.5 518.3 150.6 - 24.5 26.3 - 5.5 191.6 7.7 1486.5 0.3 46.0 4.2 162.6 715.8 161.0 0.7 101.3 43.3 - - 92.0 2.6 311.7 82.1 8.6 10.1 - 6.0 (23) 68.4 11.5 42.7 49.9 38.9 397.0 56.1 91.4 - 2.0 5.2 816.8 6.4 76.7 355.1 103.1 15.2 93.9 8.7 6.3 109.6 1.9 5.7 85.2 3.0 (20) 47.3 (19) 10.7 2.3 360.7 75.1 - 14.8 248.7 195.8 48.5 52.8 2.2 524.0 (30) -59.0 59.7 18.2 138.5 - 1.5 5.5 3.0 - 46.4 20.4 4.3 305.2 321.7 1.5 90.9 70.3 275.1 202.6 1.4 83.6 5.7 219.8 482.3 32.6 151.5 18.8 58.5 20.8 119.9 2.8 144.4 17.3 1127.3 (27) -275.1 1098.1 88.1 34.6 294.4 7.2 164.8 2.9 1.2 10.2 2. May 2003.5 - 18. January 2001.5 - 0.8 - 3.0 2.0 0.2 23.4 4.2 525.2 2.7 - 0.8 67.8 318.3 256.2 11.5 21.0 208.9 5.5 456.6 2.9 14.3 29.5 184.7 378.5 1.5 217.9 0.2 2.1 107.4 214.3 39.4 (31) -246.1 22.1 - 6.5 0.0 63.2 0.0 3.5 8.5 26.4 4.4 (22) 65.7 25.2 96.6 173.9 14.7 21.3 8.2 41.8 59.4 31.7 603.8 16.1 1.8 0.3 0.1 47.5 3.9 - 0.8 2.7 10.1 2.6 28.1 1.3 2.8 69.3 881.6 23.9 8.3 688.5 471.6 5.0 2.

2 1073.6 149 7 .5 1657 849.7 . 11.1 . Crore) (US $ Mn) 3189.1 . Payments a.7 1764..4 . demurrageand other port facilities A. 819.4 1. 11 81 4 1289 -350 26 ..9 618. 1039 33 1994-95 (Rs. 790. 25..7 1129.5 -515 388.2 1668... Others (includes port charges. 91 216 12 (Contd) 2169 -158 116 .7 292. 218 118 8 1765 -332 43 ...6 .6 3. 4136..2 24.. 682. 2690. 244 0 150 497 276 695 2011 . 146 1 14 490.3 4.4 1714.8 199. 202 1 106 429 307 546 1696 .9 730.4 11 211 196 .4 ...6 1115..5 -1041.6 19.9 2332. Freight on imports d.6 369. 709 3 .7 222. 2088.7 0. Crore) (US $ Mn) Balance of Payments 38 .8* 0..9 .TOTAL-B Transportation Net (A-B) B. bunker.3 3 . Air Transport Surplus remitted by Indian companies operating abroad Operating expenses of foreign companies in India Charter hire charges c.8 -523..3 38. bunker.8 194. 1272.9 2850.. 3 135.4 207 371. Freight on exports d. 3262 106.1 .9 . 721 0 212 2 .1 1256. Crore) (US $ Mn) Appendix 2(Bii): Transportation Account : 1990-91to 2001-02 5851.2 13. 445. stevdoring..2 726. 710. Receipts Item 273 68 . Crore) (US $ Mn) 7279. stevedoring...4 0..6 0 .5 503.6 2308..7 12.5 1093 -110 332 596. Remittance of passage booking abroad e. 697 16 129 5 1991-92 4547 -1696. Crore) (US $ Mn) (Rs.8 1 25.1 6764.7 .. Crore) (US $ Mn) (Rs.2 316.1 5328..2 5.3 1441.2 752.1 0.1 724 15.. Others (includes port charges.. 858 4 231 5 ..1 9 231 6 ..7 925. 226 160 10 1863 -167 92 .6 62.5 1 1990-91 (Rs. Air Transport Surplus remitted by Foreign companies operating in India Operating expenses of Indian companies abroad Charter hire charges c.. 1230 67 1995-96 (Rs.5 . 262. Sea Transport Surplus remitted by Indian companies operating abroad Operating expenses of foreign companies in India Charter hire charges b.3 ...6 135.4 983 ..6 713. 1715.4 333.2 503.6 121. 303. 7 108 2 267.3 195.9 7 .2 5 1 ..3 767. 634..7 12.8 1346 962..3 4494.2 270..5 .2 . demurrage and other port facilities) TOTAL-A a. 252 0 86 528 271 460 1433 1993-94 (Rs. 702.5 1961 -196. Sea Transport Surplus remitted by Foreign companies operating in India Operating expenses of Indian companies abroad Charter hire charges b.9 . 1 46 6 1485 -503 1992-93 5536. 230* 0 64 410 364 369 982 .. 180 0 10 434 304 311 939 .8 -881..8 657.1 .

Receipts a. Crore) (US $ Mn) Appendix 2(Bii): Transportation Account : 1990-91to 2001-02 (Concluded) 14461 -5711 324 307 2807 34 435 5936 720 2058 1841 8750 19 6177 658 804 89 214 250 539 21 176 20 47 55 118 22 3170 -1257 72 67 615 7 95 1299 161 450 404 1913 4 1350 143 2000-01 (Rs. Others (includes port charges.9 .8 . 600.2 670.7 789 2800.1 8497. Sea Transport Surplus remitted by Indian companies operating abroad Operating expenses of foreign companies in India Charter hire charges b. 169 4 146 1937. January 2001. stevdoring.4 6942.1996-97 546 180 . Crore) (US $ Mn) (Rs.5 1953 . Sources: Reserve Bank of India Bulletin.4 265 81 .7 638. Remittance of passage booking abroad e. Crore) (US $ Mn) 39 Balance of Payments .. April 1999 Monograph on India’s Balance of Payments.1 -1554.8 287. Crore) (US $ Mn) 11346 -1936 433 234 2369 94 346 4074 826 1506 1464 9410 76 6498 723 835 41 250 322 665 23 175 9 52 68 137 24 2382 -413 91 49 497 20 73 854 175 315 308 1969 16 1361 152 2001-02 (Rs..8 14 518. Crore) (US $ Mn) * includes frieght payment on exports also. 194. Air Transport Surplus remitted by Indian companies operating abroad Operating expenses of foreign companies in India Charter hire charges c.8 13 16 9353 -2548 233 529 1004 430 779 2522 -686 60 144 268 114 208 610 179 663 2249 290 649 1836 19 966 114 252 81 49 47 308 1997-98 1070 2396 6805 72 3570 429 937 301 176 181 1139 15 11265 -3156 969 345 1584 332 966 3226 656 1353 1834 8109 374 4318 1311 700 251 104 207 844 17 167 60 25 49 201 18 2680 -755 229 177 380 31 232 769 155 319 388 1925 89 1026 308 1998-99 10450 -3050 625 324 1317 104 580 3561 501 1757 1681 7400 103 4617 673 781 87 181 262 696 19 2410 -703 144 75 304 24 134 821 116 406 387 1707 24 1065 155 180 20 42 61 161 20 1999-00PR (Rs. Others (includes port charges.. 55 189 14 940. Payments a. Air Transport Surplus remitted by Foreign companies operating in India Operating expenses of Indian companies abroad Charter hire charges c. stevedoring.5 2394 -441 361 1281. Freight on exports d.. 4626. Freight on imports d. Crore) (US $ Mn) (Rs.. Sea Transport Surplus remitted by Foreign companies operating in India Operating expenses of Indian companies abroad Charter hire charges b. 1303 60 . bunker.3 222. July 1993 TOTAL-B Transportation Net (A-B) B. bunker.. demurrage and other port facilities) TOTAL-A A. May 2003. demurrageand other port facilities Item (Rs.

9 -1.8 3. Crore) Year Total Total Receipts Life Payments Receipts Marine Payments Receipts Others Payments Receipts Payments Net 1 2 3 4 5 6 7 8 (7-8) 1956-57 0.7 15.8 36.1 0.7 1960-61 0.7 9.8 26.4 6.4 4.3 0.6 24.2 0.5 12.7 11.5 7.7 58.5 1.9 1974-75 - 0.9 2.9 251.4 11.3 12.Balance of Payments 40 Appendix 2(Ci): Insurance Account : 1956-57 to 1996-67 (Rupees.1 5.2 -5.7 1996-97 6.7 1981-82 0.6 83.9 21.9 5.3 62.6 307.8 388.6 8.0 1971-72 0.1 60.8 1.5 1993-94 3.6 478.6 -18.6 6. April 1999 Monograph on India’s Balance of Payments.1 28.9 1.1 1.4 6.7 9.4 481.2 1.5 26.1 28.4 12.9 14.9 13.6 -90.1 4.3 1.3 2.9 69.1 1992-93 7.1 1.1 542.1 198.3 2.0 13.1 8.2 2.3 383.7 57.2 37.4 752.5 1987-88 1.5 9.4 2.7 306.8 469.8 2.8 5.4 7.7 1968-69 0.8 1962-63 0.4 146.3 13.3 2.2 2.6 1966-67 0.5 19.7 1.1 611.3 37.2 13.9 1969-70 0.9 18.9 0.8 0.4 3.0 13.1 0.9 8.5 88.1 4.1 14.1 5.8 4.6 0.4 28.3 15.1 4.6 29.5 1.6 8.9 20.5 57.9 82.7 4.8 10.7 0.6 8.8 -42.5 13.7 48.9 139.2 0.8 1989-90 8.2 83.9 5.6 4.8 19.1 40.8 8.8 9.1 3.6 1964-65 0.7 1994-95 3.6 4.6 16.0 2.8 3.5 599.8 61.4 21.4 0.5 3.4 47.1 0.2 0.4 11.6 58.1 1973-74 0.8 4.0 18.5 1967-68 - 0.6 228.8 5.4 478.2 16.2 1970-71 0.4 1965-66 0.4 3.2 110.0 95.4 5.7 2.3 0.4 1988-89 1.7 10.6 33.0 4.4 1.6 4.2 2.0 122.5 0.1 -0.2 459.4 8.9 771.9 17.3 50.8 78.1 4.8 3.9 3.3 4.9 1977-78 0.1 1975-76 0.8 3.9 60.3 4.1 5.7 1985-86 0.3 4.7 6.3 0.8 42.3 1978-79 0.4 1959-60 0.7 1972-73 0.2 0.3 -4.1 4.4 0.0 9.0 5.2 6.0 27.0 8.5 106.3 12.8 84.2 3.1 2.0 46.7 13.8 5.5 2.9 2. January 2001.0 8.0 1991-92 10.4 2.8 35.9 3.9 0.8 3.9 3.9 1983-84 6.0 4.5 46.2 17.4 158.0 30.2 4.6 54.7 40.6 7.0 105.9 112.7 4.4 57.8 75.9 1979-80 0.8 31.8 3.2 13.8 197. July 1993 .2 10.7 4.7 566.5 3.9 16.7 1986-87 0.0 68. May 2003.4 40.9 67.7 7.0 86.9 10.4 50.3 10.6 1982-83 0.5 12.8 35.4 475.5 7.4 1.2 28.2 38.1 4.4 2.4 98.9 17.7 8.4 1.3 1961-62 0.4 264.9 12.0 3.0 4.9 5.4 3.5 Sources: Reserve Bank of India Bulletin.4 13.9 12.5 1957-58 0.9 1995-96 4.2 9.6 1984-85 0.9 -10.2 0.7 5.8 14.4 7.1 15.6 1.4 4.2 450.6 389.2 383.4 592.2 0.8 5.5 1958-59 0.9 0.1 6.4 448.4 4.4 52.9 120.5 6.5 14.2 136.1 4.5 2.5 4.7 20.9 34.9 0.0 9.3 7.4 12.2 6.7 19.5 43.8 -223.4 5.2 1990-91 5.2 0.2 18.7 5.6 7.2 28.6 12.1 22.1 1980-81 0.3 24.0 107.4 6.8 230.1 7.3 4.5 3.1 101.2 40.9 67.3 1.8 26.9 191.4 31.5 9.1 113.3 0.7 1963-64 0.7 9.9 12.2 13.7 3.8 4.8 121.3 22.1 0.6 4.6 3.4 -0.5 4.2 1976-77 0.0 78.2 32.0 5.

Crore) (US $ Mn) 1997-98 Reserve Bank of India Bulletin. Crore) 254 13 1 26 163 2 62 267 3 14 5 5 8 232 10 2001-02 (US $ Mn) 41 Balance of Payments . January 2001. Crore) (US $ Mn) 525 479 3 45 328 24 125 1004 2 93 3 31 43 832 5 1999-00 (Rs. July 1993 TOTAL-B Insurance Net (A-B) a. May 2003. April 1999 Monograph on India’s Balance of Payments. Payments TOTAL-A c. Others (includes settlement of claims on account of insurance and reinsurance B.Sources: 680 210 4 197 333 12 134 890 183 57 1 54 89 3 36 240 1 38 5 0 12 19 1 50 5 132 184 683 472 473 2 93 192 6 179 945 15 72 2 34 78 744 3 1 2 1998-99 112 112 0 34 46 1 31 224 4 17 0 8 19 176 4 1998-99 (Rs. Crore) 122 135 0 9 75 0 38 257 2 15 1 5 4 231 8 2000-01 (US $ Mn) 1208 71 3 123 780 11 291 1279 14 68 25 26 36 1110 9 2001-02 (Rs. Premium Life Non-life Reinsurance from foreign companies A. Premium Life Non-life Reinsurance b. Receipts Item (Rs. Commission on Business received from foreign companies d. Commission on Business c. Crore) 122 109 1 10 76 6 29 231 0 21 1 7 10 192 6 1999-00 (US $ Mn) Appendix 2(Cii): Insurance Account : 1997-98 to 2001-02 562 614 1 43 344 1 173 1176 7 68 5 22 18 1056 7 2000-01 (Rs. Insurance on export b. Others (includes settlement of claims on account of insurance and re-insurance) a.

1 4.3 . 4. 7.3 10.6 8.3 - 0...0 1.8 15.2 . . .3 92.6 4..4 10.2 135.2 - - 7.1 - 2. . .3 4. .2 - 7.7 27. .1 164.3 0. 43. 14..12 13 B 11 9 10 8 7 6 5 1 2 3 4 9 10 A 7 8 6 5 4 3 1 2 Receipts Current profits Dividends of foreign government securities held by residents Interest on foreign government securities held by residents Interest on (non-banking) private claims on non-residents Interest on loans extended to non-residents by official and semi-official institutions Interest on overdrafts. .. (1) 27.4 21.9 .. .8 1..8 11.. 14.6 0.1 8. 11..9 8. .4 0.2 19.4 0.6 178. 4.5 9. .2 1.7 .8 11. 7.2 11. . 26.1 0.0 8.2 .2 0..3 13. .1 72. 3. .0 3. 47..3 0. 7.3 .4 9..3 7. .2 12.8 0.2 4.3 - 0.....4 (8) 1963-64 43.2 0.7 135. .8 0. 4.4 4..1 -68.9 - - - 62..8 18.8 - 4.2 86. 4.4 6.1 185. 10.0 25.2 .3 21.3 43.6 1..8 28.... .1 -33.4 9.4 80. ..1 ..5 47.0 5.0 2..8 .2 .6 (14) 1968-69 1969-70 Balance of Payments 42 .0 61.5 (6) 1961-62 40.5 0.6 1.2 14.9 . .. .3 3.5 (10) 1965-66 64.9 0.0 8.5 258. 4.5 . 2. .7 .0 0.9 - 10.9 0.5 -83.8 4...4 184.0 150.5 8. .2 -108...2 0.2 .8 8. 6.1 (11) 1966-67 66.0 4.0 17.4 -92.1 - - 8.6 102.1 3.7 4..6 154..2 2..1 33.4 1. .3 .1 4.9 15. loans.0 2.5 210.. .6 - 1.9 4.6 176..4 1.6 94. .8 -246.. .4 - - - 53.4 10..2 ..6 119..8 0.3 - 0.3 .. 11.4 0..2 0.4 0.7 ..3 ..3 7..4 0.9 10..4 1.8 - 4.5 94.. ..2 15.9 - 1.6 3.. (2) .4 .1 0.8 2.9 29.7 (13) (Contd) 94.. .. .8 2. 1.5 10.6 . .1 23..7 0.0 2. extended to non-resident banks and on balances held abroad by banks in India Interest on holdings of SDRs Taxes and tax refunds on profits.1 11.0 1.5 -5.7 0.5 8.2 0.5 24.1 .7 7.3 0. .7 279.1 1...3 18.8 9..8 - 73. .4 167.4 .5 - 57..2 4.0 (12) 1967-68 79.9 1. .6 1.6 .. .5 (7) 1962-63 40... 10.0 6... ..1 0. 4.4 8.0 189.5 6. . ... 12..1 5. ...2 25. 16..1 16. 9. .2 26..1 4.6 .5 76.4 -232.4 0.6 17.2 4. .3 14.1 6.1 1.2 0.3 77...3 .3 29.9 .2 230..7 -47.8 .9 53.8 18.8 17.0 7.5 (9) 1964-65 Appendix 2(Di): Investment Income Account : 1956-57 to 1996-97 1956-57 1957-58 42. .6 1.5 62. 14. .1 20. (3) 1958-59 30.5 0.7 0.4 0. dividends and interest Retained earnings of foreign controlled rupee companies Income on real estate owned by foreigners Others Total* of which Private investment income payments Government investment income payments Net (A-B) Item . . .9 1.9 1.2 -192.4 15.9 20. .. (5) 1960-61 37..2 6. 23.2 14.2 0.3 18.6 5.1 36.. . ..4 26.9 .5 2.1 - 0.3 . 34.1 0.1 0.0 0.0 2...1 12.7 146.7 1..9 0.. .. 23.2 0. . .2 - 0.1 -19. . 17. (4) 1959-60 35.3 29.9 1.3 . .2 6....1 .4 0.2 7.9 29. 1..8 0.. dividends and interest Income on real estate Others Total of which: Private investment income receipts Government investment income receipts Payments Current profits Dividends of foreign controlled companies* Dividends of non-controlled companies Interest on government securities and obligations held by non-residents Interest on obligations of private individuals institutions other than banking institutions Interest on long-term loans received from non-residents including international institutions by official and private sectors** Of which: Interest on long-term loans received from foreign governments and international institutions by: (i) Official sector (ii) Private sector Interest on loans and overdrafts obtained by banking institutions Interest on balances held in India by non-resident banks and official institutions Charges on utitlisation of SDRs Taxes and tax refunds on profits. 32.5 -210.2 4.4 0.6 0.2 6. 0.2 17.8 1..8 0. .7 - 2.2 ..3 169.8 -124.1 9.3 - 0.5 24..5 1.4 0.0 0.1 - - 6.2 0..1 0.1 0.5 9. ...6 9..9 1. .7 . .0 ..9 .

6 18.1 13.4 207. dividends and interest Income on real estate Others Total of which: Private investment income receipts Government investment income receipts Payments Current profits Dividends of foreign controlled companies* Dividends of non-controlled companies Interest on government securities and obligations held by non-residents Interest on obligations of private individuals institutions other than banking institutions Interest on long-term loans received from non-residents including international institutions by official and private sectors** Of which: Interest on long-term loans received from foreign governments and international institutions by: (i) Official sector (ii) Private sector Interest on loans and overdrafts obtained by banking institutions Interest on balances held in India by non-resident banks and official institutions Charges on utitlisation of SDRs Taxes and tax refunds on profits.2 -318.1 0.3 -223.2 192.0 0.3 0.9 0.6 0.0 454.0 1.2 5.7 252.7 463.6 33.5 (16) 1.2 3.6 216.4 2.8 44.7 0.1 3.2 7.3 12.5 2.5 32.6 2.2 0.1 7.4 4. 383.8 2.5 1.5 0.9 .4 119.2 3.3 6.5 2.6 (27) (Contd) 250.9 0.2 7.2 0.0 44.4 27.6 0.9 222.3 -254.1 8.2 0.2 32. dividends and interest Retained earnings of foreign controlled rupee companies Income on real estate owned by foreigners Others Total* of which Private investment income payments Government investment income payments Net (A-B) Item 2.0 0.6 1.1 2.1 25.6 10.7 221.1 190.7 4.6 12.4 57.1 0.0 250.0 11.9 0.5 4.1 1.0 1.3 30.3 47.9 43. loans.5 15.7 (20) 1975-76 141.2 5.0 1.1 49.6 37. 239. extended to non-resident banks and on balances held abroad by banks in India Interest on holdings of SDRs Taxes and tax refunds on profits.4 4.8 320.4 30.8 180.8 3.8 36.3 0.2 2.3 1.9 0.6 7.4 2.1 80.7 465.7 2.5 0.3 28.9 2.4 458.5 97.4 217.1 2.8 554.6 175.1 244.5 2.3 0.8 5.7 230.7 - 304.4 3.4 0.2 2.5 0.1 101.8 5.7 7.1 8.8 1.1 20.3 185.1 2.2 63.4 364.9 54.7 2.3 39.3 0.4 192.2 6.2 0.2 9.1 449.9 710.4 4.2 8.6 279.7 205.7 8.7 28.2 89.1 6.3 18.1 25.1 33.2 49.9 1.8 1.1 14.1 44.12 13 B 11 9 10 8 7 6 5 1 2 3 4 9 10 A 7 8 6 5 4 3 1 2 Receipts Current profits Dividends of foreign government securities held by residents Interest on foreign government securities held by residents Interest on (non-banking) private claims on non-residents Interest on loans extended to non-residents by official and semi-official institutions Interest on overdrafts.8 1.0 3..3 5.0 319.8 29.1 5.3 32.3 (25) 154.2 1.3 (23) 1978-79 Appendix 2(Di): Investment Income Account : 1956-57 to 1996-97 193.0 4.7 73. 77.3 0.7 1.1 0.6 34.2 0.2 8.9 213.8 1.0 18.2 0.0 645.7 0.7 1.0 5.4 0.1 1.7 0.7 0.8 33.8 0.9 381.3 0.0 1.9 1.2 0.1 7.2 1.7 243.7 0.6 0.6 6.0 11.1 183..9 1.7 236.6 2.5 0.0 0.0 11.2 1.6 1.0 303.9 5.6 1006.2 78.1 -543.7 37.8 305.1 0.9 0.5 13.1 1.2 248.7 0.0 32.1 14.2 345.7 0.8 1.8 0.1 433.8 44.6 6.8 474.3 392.1 195.9 276.1 5.2 42.6 30.3 48.5 4.5 0.9 (17) 1972-73 130.9 186.2 33.1 11.1 81.2 4.5 (18) 1973-74 153.5 1.2 15.9 275.2 - 7.4 (26) 1980-81 1981-82 233.6 23.1 12.1 0.1 2.5 0.1 (19) 1974-75 121.6 150.1 6.7 0.9 222.0 0.8 0.2 788.3 2.1 17.1 7.4 33.2 -297.3 13.3 91.0 0.6 7.4 4.0 267.7 110.3 329.2 460.8 1.8 353.9 1..1 23.2 3.4 0.8 203.8 541.6 -269.0 0.1 - 0.3 10.5 18.1 107.3 1.6 - 522.3 .7 0.5 3.9 0.4 8.0 1.2 0.7 209.6 723.6 314.3 1.9 39.0 36.6 0.3 (24) 1979-80 214.6 -211.8 161.4 -127.6 - 12.5 3.0 36.2 756.7 0.8 1.5 47.1 2.3 12.9 0.8 2.8 0.2 4.1 85.4 1.7 15.9 362.0 0.3 665.5 243.3 208.1 2.2 0.1 32.7 -188.9 258.0 196.0 64.0 37.6 39.7 0.1 9.7 20.0 41.1 1.3 395.4 (15) 1970-71 1971-72 115.3 2.2 10.1 234.3 25.2 45.3 0.1 (21) 1976-77 174.2 33.6 203.2 237.0 2.8 244.5 282.5 26.4 0.5 1.2 31.3 2.7 2.5 28.2 -323.0 .5 2.4 462.8 11.7 2.3 (22) 1977-78 208.0 343.7 2.5 21.7 4.5 12.8 2.9 (28) 1982-83 1983-84 43 Balance of Payments .3 -248.7 595.4 19.8 2.1 18.9 0.2 5.4 7.5 11.1 674.5 3.5 24.1 1.5 49.1 2.1 232.9 4.1 33.3 6.6 0.3 0.0 331.5 54.5 38.2 3.8 3.4 80.4 1.9 1.1 0.2 3.8 19.0 0.8 13.0 15.7 467.0 43.5 256.4 13.0 549.

6 5562.2 16.5 6.9 469.9 12.9 24.5 5.8 107.1 1126..4 76. ..6 4. -10258.5 0.0 1073.5 .2 (37) 1992-93 .6 19.0 (40) .1 16.4 212. .6 9938.9 685.3 227. .4 267.7 15448.2 0.6 3. 343.0 81.9 602.2 11.8 6.0 0.7 842.9 228.9 149.5 0.0 23.6 15.2 577. dividends and interest Income on real estate Others Total of which: Private investment income receipts Government investment income receipts Payments Current profits Dividends of foreign controlled companies* Dividends of non-controlled companies Interest on government securities and obligations held by non-residents Interest on obligations of private individuals institutions other than banking institutions Interest on long-term loans received from non-residents including international institutions by official and private sectors** Of which: Interest on long-term loans received from foreign governments and international institutions by: (i) Official sector (ii) Private sector Interest on loans and overdrafts obtained by banking institutions Interest on balances held in India by non-resident banks and official institutions Charges on utitlisation of SDRs Taxes and tax refunds on profits.6 0. January 2001.4 2478. 0.1 .3 10.9 38.. ..0 580.2 7.5 1.9 2.8 129.2 12..3 170..5 .0 15..4 (39) 1994-95 3.2 13.2 0.6 21. .0 -949.3 145. 834.4 . 885.7 1619. . .5 2.4 7.2 744.7 15.3 4555.9 6927.0 7.2 .0 66.8 .4 12.0 53.. 0.1 . .9 -2230.5 3.8 160.4 4..9 1504.5 69...5 . loans.0 35.6 3.4 8. :**:Interest Payments in 1961 include for U...0 102. July 1993 12 13 B 11 9 10 8 7 6 5 1 2 3 4 9 10 A 7 8 6 5 4 3 1 2 Receipts Current profits Dividends of foreign government securities held by residents Interest on foreign government securities held by residents Interest on (non-banking) private claims on non-residents Interest on loans extended to non-residents by official and semi-official institutions Interest on overdrafts.8 3080..0 481.2 1372..8 0. Sources: Reserve Bank of India Bulletin..1 19.6 4.7 644.2 1.9 7711.2 .8 .9 45.5 476..9 53.0 22. .0 21.0 3329. -11768.9 -996.9 541.6 1..0 58..8 (34) 1989-90 . . Hence the sum will not tally.0 2.1 2604.4 .0 1164.1 834.0 9.3 11506.7 34.0 1..2 40.0 1..6 34.7 44.0 78.1 2782.8 70.0 660.6 (32) 1987-88 903.4 1.5 (30) (29) 1..4 3811.4 0.. 74.4 0. dividends and interest Retained earnings of foreign controlled rupee companies Income on real estate owned by foreigners Others Total* of which Private investment income payments Government investment income payments Net (A-B) Item Balance of Payments 44 .2 31. 187.1 170.3 601.0 61.7 -10502.0 ..2 6. India credit for oil-pipe line under private account.8 687.5 55.7 4732.2 2.2 465. 634.8 314.8 .0 389.4 318.. .8 73..6 90. 0. 402.8 2.0 390.1 3.5 0.2 1067.8 156. 0..8 0.8 2..7 22.1 10.0 16.4 0.9 340.5 33.5 15579.. .8 1.8 60.1 2.7 7.0 13.2 40.7 7.5 17..5 29. 175.6 39.6 -5562.7 1. 0..2 218.4 13554.0 91.0 2.9 .2 653.8 1216.8 33.1 1237.1 32.0 -10716. 464.6 266.3 3. . 2.6 95..0 546.7 (36) 1991-92 Appendix 2(Di): Investment Income Account : 1956-57 to 1996-97 (Concluded) .2 585.2 3.4 1.1 121.2 .3 5. -6732.5 14. 472.5 67.5 6994.7 -2478.4 .3 542.2 6.7 64.9 22.4 10.5 35. 783.7 377.9 178.8 -10772.4 5..4 624.7 1.0 .3 82.0 .4 (33) 1988-89 1073.4 .9 18. 919.8 1582.3 1587.5 24.6 82.1 896.1 85..9 (31) 1986-87 724.3 4.9 1069.5 14.2 20. 508.8 0. .7 3.1 2. .3 584. .4 .1 37.7 1.6 (41) 1995-96 1996-97 . 32.3 563. .9 1763.2 6.0 1890. April 1999.5 2.9 725.8 34.5 0.6 . 443.3 36.7 51.7* 669.9 44.1 13.8 18.0 56.0 9.4 2930.6 1.8 50.8 36.. .9 23..5 .6 146..5 37.2 1003.3 151..3 3.4 2312.4 59.9 0.1 4. . 499.6 0.6 .9 31. -9396..7 1...0 51.5 crore received from IMF..1 7392.1 21.7 4.. 433.9 514.5 53.7 5.2 38.4 504.5 7.0 0.2 1985-86 1984-85 673..8 3.8 5. May 2003. 78.1 1.2 708.4 166.1 .4 124.6 7113.4 (38) 1993-94 * Total figures post 1989-90 include certain items elaborated in RBI Bulletin.5 2..9 25..5 4.8 2152.1 2177.3 571.6 72.5 1..0 9. ..@: Upto 1963-64 this item includes dividends of non-controlled companies.5 872. 408.7 42. .2 649.9 5.2 45..3 7.5 323. .5 . ...8 (35) 1990-91 0..4 0.4 1.7 304.8 7.5 102.5 4.1 3. .6 640.2 1.0 13.2.7 .4 35.8 7376.7 33.6 32.0 5.1 21.0 6.K.4 521.1 0.6 31.8 40.8 58. 163.1 103..5 7.4 1. 0. :*: include an interest subsidy of Rs 44.0 4518.7 4.1 50.6 6. Note : Data do not include interest on Foreign Currency (Non-Residents) Accounts scheme since its inception in 1975. extended to non-resident banks and on balances held abroad by banks in India Interest on holdings of SDRs Taxes and tax refunds on profits..0 0.5 111.6 -4874. April 1999 Monograph on India’s Balance of Payments.3 1.0 109.5 11496.5 5.1 3102..2 -1249.4 0.9 20.

I+II II I A RECEIPTS Item Appendix 2(Dii): Income Account : 1997-98 to 2001-02 -3559 136 -3695 5490 5478 30 0 13 1742 3037 537 119 12 1931 1383 9 1783 195 10 11 159 16 148 -17414 442 -17856 23237 28192 183 0 192 7803 15048 4395 571 45 10823 8926 69 10336 456 21 10 741 113 487 2000-01 -3821 97 -3918 6187 6177 40 0 42 1710 3297 963 125 10 2366 1951 16 2259 104 6 3 163 16 107 2000-01 (US $ Mn) (Rs.6 7 5 4 3 1 2 1 Compensation of Employees Wages received by the Indians working on foreign contracts or the foreigners working in India on foreign contracts Investment Income Interest received on loans to non-residents Dividend/profit received by Indians on foreign investment Interest received on debentures. CPs. Charges on SDRs Interest paid on overdraft on NOSTRO Account Payment of taxes by the Indians/refund of taxes by government to non-residents TOTAL . Crore) (US $ Mn) (Rs. January 2001. May 2003. Crore) (US $ Mn) (Rs. April 1999 Monograph on India's Balance of Payments. fixed deposits. July 1993 -235 -12969 5020 18764 -3521 -62 -3459 5082 85 41 53 1436 2799 578 28 62 1561 1105 1 1561 358 14 12 46 25 0 1997-98 317 156 189 5384 10442 2170 106 235 E Compensation of Employees Net (A-B) F Investment Income Net (A-B) Compensation of Employees Payment of wages/salary to Non-residents working in India or Indians working on projects abroad Investment Income Payment of interest on non-resident deposits Payment of interest on loans from non-residents Payment of dividend/profit to non-resident share holders Payment of interest on debentures. government securities etc. FRNs. earnings on RBI investment Interest/remuneration on SDR holdings TOTAL-II -13204 G Total Receipts-Payments (B-D) Sources: Reserve Bank of India Bulletin. FRNs. Crore) D TOTAL-C (I+II) II I C PAYMENTS B TOTAL . Crore) (US $ Mn) 45 Balance of Payments . Crore) (US $ Mn) 1999-00PR -12663 350 -13013 25778 25724 243 0 243 7613 13401 3756 468 54 13115 9597 39 12711 691 52 61 2041 230 404 2001-02 -2654 74 -2728 5403 5391 51 0 51 1596 2808 787 98 12 2749 2010 8 2663 145 11 13 428 48 86 2001-02 (Rs. CPs.II 18999 5 6 7 1 2 3 4 1 5795 4113 2 5795 1315 55 44 171 95 0 1997-98 -14968 111 -15079 23101 23032 258 13 497 6919 11657 2752 936 69 8133 5691 6 7953 1799 40 20 294 103 180 1998-99 -3544 25 -3569 5479 5462 62 4 118 1637 2762 658 221 17 1935 1357 1 1893 426 10 5 69 25 42 1998-99 -15431 589 -16020 23804 23747 132 2 52 7549 13167 2333 512 57 8373 5992 37 7727 854 38 50 688 68 646 1999-00PR (Rs. Fi deposits and funds held abroad by Ads out of foreign currency loans/export proceeds Interest received on overdraft of VOSTRO accounts of foreign corresondents/branches by the Ads Payment of taxes by the non-residents/refund of taxes by foreign governments to Indians Interest/discount etc.

3 (3) 7.5 0. April 1999 Monograph on India’s Balance of Payments.0 (26) 0.9 93.9 25.7 22.5 70.5 87.1 (9) 4.2 9.1 92.5 32.9 23.1 (19) 51.2 71.1 6.5 10.8 1.4 33.2 45.9 72.0 - 16.0 111.9 86.7 80.1 49.8 82.5 50.8 -1.9 33.1 -61.9 10.2 65.2 - 16.4 - 123.6 16.9 14.1 8.5 106.1 (17) 4.1 22.1 212.6 6.3 0.9 8.5 (24) 2.8 (7) 6.5 25.1 63.2 7.5 14.4 17.6 81.8 11.1 24.9 51.6 8.2 211.7 17.3 - 14.0 23.6 0.3 22. This is now shown under official transfer payments from 1964-65 Sources: Reserve Bank of India Bulletin.7 77.5 - 7.7 3.5 12.4 - 44.6 42.5 36.2 90.8 (13) 7.3 29.4 0.0 45.1 44.6 118. May 2003.1 (10) 3.7 21.8 28.3 - 182.3 (11) 10.1 5.3 8.6 0.8 13.9 - 63.1 (25) 1.5 15.2 24.3 - 117.3 7.8 38.0 1.6 56.1 6.9 69.9 - 19.7 5.1 138.7 12.7 31.9 33.4 32.4 0.3 8.6 1.4 - 58.0 7.8 -7.3 27.9 81.9 1.7 24.2 - 57.6 21.2 -94.2 20.7 (12) 6.5 26.5 28.S.4 - 40.9 - 5.5 12.1 6.5 7.8 12.1 24.2 5. embassy expenditure out of PL 480 funds 2 Maintenance of international and regional institutions in India 3 PL 480 freight refund* 4 Others A Total Payments 1 Maintenamce of Indian embassies and diplomatic missions abroad 2 Contribution to Indus Basin Development Fund** 3 Others B Total Net (A-B) Item Appendix 2(Ei): Government not included elsewhere Account : From 1956-57 to 1989-90 Balance of Payments 46 .5 24.9 19.7 8.0 (31) 182.4 120.7 - 41.1 - 209.7 23.8 23.1 - 19.0 44.9 (18) 11.1 5.6 29.0 67.2 59.1 5.1 118.0 51.7 (33) 1.0 - 20.S. :**.7 (22) 26.8 0.1 (4) 5.1 132.1 43.1 (16) 9.4 (23) 47.2 67.6 3.7.0 (6) 9.8 114.3 - 26.1 23.0 - 135.2 30.9 (21) 18.2 3.2 14.5 2.S.1 87.0 6.7 116.6 (15) 8.3 24.7 58.0 (1) 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 Notes :*: Represents freight on PL 480 imports initially borne by India but subsequently refunded by the U.6 2.8 29.7 8.2 - 212.1 (14) 9.7 - 14.5 12.1 22.3 22.6 49.2 5.3 29.1 44.1 39.9 96.9 (27) 1.0 -159. January 2001.5 - 30.8 (2) 15.2 (34) 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 7.1 0.6 7.0 (28) 84.1 25.4 40.6 30.0 (5) 7.3 71.6 130.4 - 26.3 10.3 24. July 1993 1 Maintenance of foreign embassies and diplomatic missions in India including U.8 -3.1 4.4 0.3 9.6 - 31.2 5.1 - 13.8 (32) 0.6 3.8 4.8 26.5 - 14.4 - 73.7 106.9 13.5 47.5 135.9 - 11.8 - 16.5 1. authorities.3 9.5 4.1 83.2 123.8 2.4 9.5 2.5 21.6 4.7 11.6 (20) 18.3 (8) 4.4 22.0 15.1 18.3 8. embassy expenditure out of PL 480 funds 2 Maintenance of international and regional institutions in India 3 PL 480 freight refund* 4 Others A Total Payments 1 Maintenamce of Indian embassies and diplomatic missions abroad 2 Contribution to Indus Basin Development Fund** 3 Others B Total Net (A-B) Item 1 Maintenance of foreign embassies and diplomatic missions in India including U.9 (30) 0.7 7.7 10.2 118.0 14.3 8.5 - 84.0 - 14.0 24.2 104.5 57.4 64.3 6.9 1.0 81.6 74.7 7.8 (29) 0.4 20.4 36.6 - 21.2 12.3 - 10.7 71.6 18.3 7.1 40.2 104.

0 .0 4.5 23.0 13.8 44.8 39.0 469. Crore) (US $ Mn) 165. Others A.1 107.0 132.. Payments TOTAL-A a.0 1997-98 160.0 75.0 0. .0 310.2 -283.0 125.0 1227. April 1999 Monograph on India's Balance of Payments.0 325.6 119.0 1.0 0.0 201.0 13.1 42.0 32.0 435.0 47.0 .3 5.3 4.5 6.0 33.0 -123.6 1994-95 (Rs.0 15.6 1996-97 (Rs. 131.0 581.0 6. Crore) (US $ Mn) 153. Crore) (US $ Mn) 518.0 75.7 -377..3 .0 31.0 3.0 -158. Crore) (US $ Mn) (Rs.0 1016. Maintenance of Indian embassies and diplomatic missions abroad b.0 237.0 1293.0 8.0 -205. Crore) (US $ Mn) 480.3 11.0 0.0 16.0 195.0.0 1038.0 270.0 444. Receipts TOTAL-B Gnie Net (A-B) a.0 13. 410.0 10.. Payments 0.0 197.0 .0 2.0 20.0 305.0 218.0 272.0 1995-96 1557.0 2235. Crore) (US $ Mn) 173.0 887.0 72.0 -102.2 . Crore) (US $ Mn) (Rs. 116.0 31. .0 419. January 2001.0 2000-01 341.0 24.0 2520.0 1999-00PR (Rs.0 942.8 27.3 94.0 1636.2 1993-94 (Rs. 311.0 222.0 201.0 34..0 151. 122. Maintenance of Indian embassies and diplomatic missions abroad b..5 .0 291.0 1771.0 270.0 0.0 205.0 ..9 28. Others A.0 956.0 181.0 4.0 1023.0 64.0 0. Crore) (US $ Mn) 292.0 3012.0 657.0 71.0 178. 85. Crore) (US $ Mn) (Rs. Maintenance of foreign embassies and diplomatic missions in India.6 44. Remittances by foreign embassies and missions in India c Others B.1 154. May 2003.0 144. Receipts 1990-91 (Rs.0 48.0 1382.0 0.0 293. Crore) (US $ Mn) Sources: Reserve Bank of India Bulletin.5 51.0 1998-99 325.0 270.0 8... 170.0 79. 383.0 377.0 .0 597.0 2.0 272.9 TOTAL-A 15.1 -680..0 1232.8 163.0 71.0 1359.0 1356.0 1455.0 ..0 -155. 261.0 2001-02 (Rs. Crore) (US $ Mn) (Rs.0 2523.3 ..0 -106.0 276. 634.0 853.0 116.0 337.1 178.0 14.2 1991-92 (Rs.6 1992-93 99.0 21.0 312.5 a.0 21. 569. Maintenance of international and regional institutions in India c. Maintenance of foreign embassies and diplomatic missions in India.0 -24. Remittances by foreign embassies and missions in India c Others B.2 -85.0 1167.0 . b.0 219.0 581. Crore) (US $ Mn) Appendix 2(Eii): Government not included elsewhere Account : 1990-98 to 2001-02 47 Balance of Payments .6 0.0 0.1 97. b.3 256..0 9.9 173.0 582..0 316. July 1993 TOTAL-B Gnie Net (A-B) a..0 1161.4 -490.0 30.0 178.0 749.0 0.2 0.0 724.0 457.5 42. 286.0 3.0 1996.0 17.4 .7 15. Maintenance of international and regional institutions in India c.0 594.0 0.0 2.5 -250.0 (Rs.0 53.6 -386.

8 .. .. .1 .1 1.4 79. . 1. .1 15. ..6 -11.9 2..9 0.. .4 2. magazines.5 0. .6 11.6 ...9 3. .. . ..5 0.3 0.3 16. . ....2 0. .1 0..8 0..6 0.1 0. ..5 8. .3 0. .0 47...6 5.5 5.3 0... .1 0. . .0 -0..8 49.1 0. .2 .9 30.1 7... . . . .3 0. 0.. . 9.6 0. ... ..3 -2..1 ..6 0.7 -3.6 1. 9.3 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 Appendix 2(Fi): Miscellaneous Account : From 1956-57 to 1989-90 Balance of Payments 48 .. 15.3 0.6 7.2 0...3 0. .3 0.. . ..1 - 0.1 1.3 0. . ..2 0. . .1 4.3 .0 - 0. telegraph.8 0.1 0. . 5.2 -7. 0.7 4..3 16.. etc. 9.. etc. ... 9. .8 5...2 0.6 23...6 0. 0. .4 0.8 0.7 ....0 37. 5 Newspaper correspondents 6 Underwriters’ commission 7 Remittances against non-fulfilment of contracts 8 Settlement on account of post.2 0. 10.7 . .5 6.. 11. . . .4 1..1 4. . 9 Film rentals 10 Refunds and rebates on imports 11 Other refunds and rebates 12 Royalties 13 Rentals 14 Oil companies’ miscellaneous remmittance equivalents 15 Proceeds of rupee travellers’ cheques sold by non-resident banks 16 Others A Total B Payments 1 Technicians 2 Other professional Services 3 Technical know-how 4 Management fees..7 38..0 -31.2 0.6 21..1 31. . .6 .4 1. .6 0. 7. .4 - 0.. 10.7 1 2.. . . ..8 16.3 - 8. . agency services...4 7.0 0. .3 2.5 ..6 1..6 . .1 2.5 -14.1 36. . office expenses. ... etc. agency services. .. . .0 82.5 3.7 0.. .1 0.3 0..6 0.3 36. 9.... magazines.6 10. .2 0.3 32.5 0.1 0. .9 13..5 ..6 0...4 .6 28.2 7..4 13.5 .3 1.2 . . ... .8 0..4 9. .4 0. . 5. .2 43..1 2. ..7 .4 4.2 5.5 0...9 .5 .. ..2 3. . 2. . .4 14.1 0.8 67..4 13..3 7.5 4.6 0. .4 0...6 .4 15. .. 25. .8 2....3 2.. .1 12..2 11. ...2 . 9.3 0.. 9.1 13. telegraph.. . . .. . 4. 12. . . .6 .7 1.5 .8 2.3 0.3 3. .4 4.6 2.6 0.2 1..2 8.1 1.5 10.2 0. . 11 Film rentals 12 Refunds and rebates on exports 13 Other refunds and rebates 14 Royalties 15 Rentals 16 Oil companies’ miscellaneous remmittable liabilities (not included elsewhere) 17 Others B Total Net (A-B) A Item (Rupees. telephone and radio charges 7 Advertisement charges 8 Foreign Subscriptions to Indian periodicals.8 1.2 -35.3 -24... 2.8 0.3 ...1 12.5 - 0.3 0. .4 ....2 0.2 67..4 0...5 .3 2.8 13.2 25.......0 .5 5. 10.2 26.0 43..3 37. 13 . .0 16.5 16.8 .2 0..4 0.2 0. . 9..7 14. ... .5 34.. . etc. ... ..9 20.3 0...7 17.4 0. 3..1 0. . . ..1 2. 11..6 10.. .9 2.0 . .6 . .0 - 0. 5.2 0.5 19.7 0. .3 1.3 . .7 5.2 0. ...2 7.6 7..9 0. . Crore) ..1 ..0 12.6 . . 1.3 7. ..6 20.5 ..1 2 3 4 Receipts Technicians Professional Services Technical know-how Management fees.3 0.2 0.4 2..1 35.2 0.6 1..5 13.4 25.8 0. . .4 - 0.. .4 0.5 59.4 -23.3 - 0. .4 12.4 0..8 0.. ...6 13.1 2.7 0. office expenses..1 50.1 0.. 3. .. .3 6..8 6.1 0. .3 0. .3 -2. .1 8. ... 0.2 15.1 7..1 18 44.9 0.. ....5 -47.5 0.. .4 .. 11.8 78.0 4. 0..1 - 0.. .0 12... .4 0.2 -10...2 . ..6 0. . .3 0. .. ..2 .4 0. . .1 28. 12.1 13.5 5.0 23.0 0.8 - 0.3 0.3 - 8.3 0..1 24.1 1. .4 1.1 2. .1 1.7 0...3 0. 5 Underwriters’ commission 6 Settlement on account of post. . ..5 .0 19. . .8 0. 0...7 (Contd) 16.2 7.8 1. .2 27.3 . ..0 0. 25.. 0. . .2 6..4 .3 0.5 5 17.3 26..5 7. 0.. ..8 -22..5 3. 12.2 0.5 46.3 61.1 0.4 - 0.1 0. ..9 3.3 1.2 0.. . . ....5 ..4 3.8 14. ....2 2.2 0. . . .. ..3 1. . 4. .0 23.4 0.7 1.1 1.8 . ..2 14.1 1. . .0 0... 1.3 .. .7 16.4 3.3 11.2 45..9 33. .1 0. . 12...2 0. . .8 18.. ..2 15...1 0.. .2 - 12.2 20.9 26.7 48..3 23.4 2.2 67 -23. telephone and radio charges 9 Advertisement charges 10 Indian Subscriptions to Foreign periodicals... 4..7 11..

6 15.6 1.7 7.2 2.0 171.1 40.9 102.7 0.1 0.8 13.2 8.2 0.7 1.2 - 3.4 0.7 282.8 13.1 0.2 64.2 1.1 6.5 0.0 105.1 0.0 0.6 32.0 898.7 16.7 134.4 37.6 0.8 0.0 - 1.2 0. Crore) 0.3 233.0 2021.7 14.9 3.8 902. May 2003.2 71.5 1485.8 0.7 62.8 0.7 261.9 0.7 5.1 0.3 347.1 74.7 50.5 1.2 2.3 24.9 87.1 8.2 23.5 0.1 0.7 0.2 5.2 0.6 0.6 69. January 2001.2 4.1 52.2 662.9 6. 5 Newspaper correspondents 6 Underwriters’ commission 7 Remittances against non-fulfilment of contracts 8 Settlement on account of post. office expenses.0 117.9 3.3 2.3 0.1 788.9 372.4 29.2 325.5 69.0 505.5 2.6 0.7 51.9 4.6 0.1 1.9 1.4 0.3 0.8 73.0 23.0 45.0 26.9 - 0.3 278.2 0.0 -63.4 9.1 0.7 21.7 0. agency services.7 10. etc.8 14.2 197.5 160.6 1.1 10.9 470.1 - 0.3 20.2 0.1 5.2 0.6 1.8 1.4 0.5 1.3 1.8 0.5 90.9 82.4 1.4 316.4 1064.4 1.3 457.1 -33.0 146.1 1272.7 -353.4 3.8 12.9 16.0 2063. magazines.3 82.3 13.6 13.2 0.1 25.9 10.1 0.5 - 10.0 153.8 0.6 367.0 99.5 5.2 69.0 258.5 - 5.3 0.3 1.9 0.1 1.4 1.2 1.3 1077.3 0.1 28.0 6.0 230.3 0.5 0.7 1859.1 0.9 0.1 30.1 0.2 9.9 2988. etc.2 2.8 4.2 1.1 0.2 2.1 2.1 28.5 - 10.2 0.7 1615.3 258.1 - 0.6 210.3 0.7 24.1 0.4 151.7 1.3 0.3 7.2 0.8 0.1 27.9 27.1 0.6 11.0 3.1 0.1 - 0.0 0.3 10.2 0.1 304.3 -65.9 0.5 19.5 0.4 - 6.9 23.3 169.0 562. etc.9 270.7 529.0 2.7 714.3 0.0 12.1 0.0 358.4 8.1 7.2 1.1 0.2 37.2 8.1 0.1 0.4 516.9 0.9 13.4 4.5 0.4 1.5 1.5 0.4 4.4 48.3 8.6 0.1 18.9 1.1 0.2 2.1 10.8 0.3 0.9 300.2 60.2 439.3 1.2 0.6 0.7 6.3 2.1 3.7 0.4 9.7 - 2.8 220.2 28.9 0.6 1.2 - 2.0 -169.5 0.9 1.9 1426.4 0.0 0.5 26.3 0.3 11.3 2 0.9 6.2 0.1 0.1 7.8 12.3 2 0.3 50.8 0.5 - 2.1 80.3 - 3.3 2287.0 0.0 114. telegraph.2 7. telegraph.7 0. telephone and radio charges 9 Advertisement charges 10 Indian Subscriptions to Foreign periodicals.1 3.0 83.4 8.5 4.0 42.3 20.2 0.7 1.7 40.8 131.8 128.7 817.5 6.1 0.2 0.7 1.5 1905.(Rupees.2 8.2 - 0.1 3.5 33.0 0.2 - 2.1 1.9 0.5 0.5 37.7 328.0 175.4 6.2 119.1 275.2 147.3 10.3 0.1 15.0 8.6 12.3 0.3 0.2 0.1 0.3 0.6 6.0 16.3 0.1 0.1 0.1 2.2 0.5 4.0 44.1 - 2.2 0.6 0.6 0.8 0.4 6.1 - 0.6 232.7 1.1 0. office expenses.2 0.3 3.8 428. 9 Film rentals 10 Refunds and rebates on imports 11 Other refunds and rebates 12 Royalties 13 Rentals 14 Oil companies’ miscellaneous remmittance equivalents 15 Proceeds of rupee travellers’ cheques sold by non-resident banks 16 Others A Total 2 Other professional Services 3 Technical know-how 4 Management fees. agency services.5 96.2 28.3 447. telephone and radio charges 7 Advertisement charges 8 Foreign Subscriptions to Indian periodicals.5 1.2 151.5 0.3 172.2 1.4 12.3 817.6 1.0 11.8 90.5 0.6 0.0 14.7 1.5 0.4 5.7 0.5 294.4 11.2 0.8 1.5 0.3 4.3 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 Sources: Reserve Bank of India Bulletin.4 459.1 0.1 0.2 458. 5 Underwriters’ commission 6 Settlement on account of post.3 0.7 11.0 0.7 0.0 -17.8 214.1 - 0.2 13.5 0.6 2.5 0.7 0. April 1999 Monograph on India's Balance of Payments.5 21.1 848.1 0.8 1.1 0.2 0.6 28.8 7.1 - 0.3 0.1 13.2 1.2 3.2 1.9 2.1 6.9 8.4 0.3 - 13.3 2.4 1.3 3.5 377.2 0.5 187.8 4.8 7.0 55.6 -42.5 0.4 0.5 180.1 0.1 58.8 704.5 840.6 3.1 0.9 98.8 0.9 73.0 185.5 - 1 0.8 0.5 0.1 3.1 1.5 2.8 9.8 0.1 0.5 3.0 1298.7 2.5 0.3 11.5 166.6 331.7 1.2 1.7 3.8 421.7 0. magazines.7 - 10.2 0.8 0.5 25.7 18.1 3.7 - 7.1 252.3 2.6 1603.6 6.2 8.2 1. etc.8 0.4 1.0 2362.1 0.2 0.0 6.0 0.1 - 0.3 44.2 -19.9 750.8 233.8 19.1 1473.2 659.9 100.3 6.6 1110.9 1.1 198.9 1.0 103.9 1.2 0.7 2. 11 Film rentals 12 Refunds and rebates on exports 13 Other refunds and rebates 14 Royalties 15 Rentals 16 Oil companies’ miscellaneous remmittable liabilities (not included elsewhere) 17 Others B Total Net (A-B) Item Appendix 2(Fi): Miscellaneous Account : From 1956-57 to 1989-90 (Concluded) 49 Balance of Payments .7 - 15.1 0.4 798.1 0.9 40.5 12.0 1164. July 1993 A Receipts 1 Technicians 2 Professional Services 3 Technical know-how 4 Management fees.4 2103.5 1.4 1.9 0.0 0.2 0.1 8.5 314.4 56.8 237.3 17.0 48.2 0.8 32.1 0.9 25.1 0.2 1.2 8.4 6.2 0.3 - 51.3 39.6 1354.7 9.5 0.

. .. ... . . . .. . .. . 3096. . Crore) (US $ Mn) -2269 6655.. . . . .7 .2 2246.. 1253. . . 2246...7 ... . ..7 .8 .. rentals.. 386 1992-93 (Rs.. . (Contd) -660 1961 .. . ... Crore) (US $ Mn) -1155 2279. 667 ... 1197.. .. . 1910.1 . .. .. Receipts .. .. Construction services 1009....... 1020 .. .. ... . ....8 . . .... .... .8 ..5 .8 . ..5 .. .... .. . . . . .. .9 . ... .....5 .. copyright and license fees . Crore) (US $ Mn) Appendix 2(Fii): Miscellaneous Account : 1990-91 to 2001-02 -34. ..... . 116 653 .. 1185... . .5 . . .. ... 747 . -358 744 .. . . . . 2412. . 1961 . . . ... Financial services Software services News agency services Royalties. 744 .2 1197... .5 ... 489 .8 . 563 1990-91 -993. .. ... office maintenance.... . . Miscellaneous Net (A-B) TOTAL-B not enumerated elsewhere) exhibitions & other services rentals. Crore) (US $ Mn) (Rs. 563 ..3 . 3130... 997 . . ...9 . .. 609 ... Crore) (US $ Mn) 366.... -434 946 ... 1124. .. .. copyright and license fees C. Crore) (US $ Mn) Balance of Payments 50 .7 .1 . 1009. 769 . 2520 . 1124. ..... . ... 101 997 . 2046... . .... . 1098 1994-95 (Rs... . ... . . .... 6655.1 . .. . . prizes.3 ... . . prizes. 444 . . .... Other services (Advertising. Construction Sevices Management services . 1392.. Payments TOTAL-A not enumerated elsewhere) exhibitions & other services office maintenance. . Other services (Advertising. . Communication services A.... -104 667 . .. . ...1 2046. Financial services Software services News agency services Royalties... .. .... 1866. . 325 1993-94 (Rs..... . .2 3130. . . .. 512 1991-92 (Rs. 2279. .. ..7 .. 653 ... 946 .5 .8 .4 . Management services ... ...... Communication services B.. 554 . 1253.. .. . . 386 ...... -187. 512 . 4386. 1301 1995-96 (Rs.... .

..
..
..
..

Financial services

Software services

News agency services

Royalties, copyright and license fees

1220.1

4074.2

..

341

1151

..

1151

..

..

..

..

..

..

1492

..

393

..

..

1099

..

..

..

1296

14193

6120

3132

618

530

829

2402

239

323

15489

4103

2044

80

586

6570

1112

370

624

PR : Partially revised.
Sources: Reserve Bank of India Bulletin, May 2003, January 2001, April 1999
Monograph on India's Balance of Payments, July 1993

C. Miscellaneous Net (A-B)

TOTAL-B

not enumerated elsewhere)

exhibitions & other services

rentals, office maintenance, prizes,

Other services (Advertising,

4074.2

..

Management services

..

Construction services

5294.3

..

1394.3

Communication services

B. Payments

TOTAL-A

not enumerated elsewhere)

exhibitions & other services

office maintenance, prizes,

Other services (Advertising, rentals,

Management services

..

Software services
..

..
3900

Financial services

Royalties, copyright and license fees

..

Construction Sevices

News agency services

..

Communication services

A. Receipts

1996-97

355

3808

1637

841

166

142

223

647

65

87

4163

1109

549

21

156

1760

296

101

171

1997-98

(Rs. Crore) (US $ Mn) (Rs. Crore) (US $ Mn)

5361

25989

16506

2802

1055

431

1461

2885

414

435

31350

12254

2477

73

1106

11064

1190

634

2552

1286

6161

3908

663

250

104

348

687

98

103

7447

2917

590

18

262

2626

283

150

601

1998-99

(Rs. Crore) (US $ Mn)

14987

29057

15126

3456

1351

693

1600

5785

220

826

44044

14259

2790

237

1485

17412

1569

1691

4601

3449

6704

3497

795

311

90

138

1632

51

190

10153

3284

643

54

342

4016

361

389

1064

1999-00

(Rs. Crore) (US $ Mn)

Appendix 2(Fii): Miscellaneous Account : 1990-91 to 2001-02 (Concluded)

13674

45496

21314

6376

2367

1378

2706

9221

996

1138

59170

12671

4471

280

511

29014

3193

3081

5949

2990

9885

4631

1385

514

299

590

2003

216

247

12875

2733

970

62

114

6341

696

671

1288

2000-01

(Rs. Crore) (US $ Mn)

18053

51882

19861

8341

2671

1509

3202

11117

2462

2719

69935

21839

4546

400

35

34216

3719

803

4377

921

780

167

3774

10897

4172

1752

561

317

672

2335

517

571

14671

4586

951

84

7

7175

2001-02

(Rs. Crore) (US $ Mn)

51 Balance of Payments

0.3

4 Others

-

9 Grants to ITEC programme

10 Contribution to World Health

Net (A-B)

B Total

11 Others

37.0

-

-

-

-

8 Grants to Bangladesh

Organisation

-

-

7 Government exports-grants

32.9

-

-

-

-

-

-

-

-

-

-

-

5 Commodity agreement with Gulf states

-

-

-

-

32.9

0.1

-

-

32.8

(2)

6 Exports on gift basis

Development Fund

4 Contribution to Indus Basin

extended by Government of India

3 Donations and technical assistance

international agencies

2 Government contribution to

in India

1 Pension on government account

Payments

37.0

-

3 PL 480 Title II

A Total

-

36.7

(1)

2 PL 480 Title I

1 Grants from various countries

Receipts

Item

(Rupees, Crore)

35.6

-

-

-

-

-

-

-

-

-

-

-

-

35.6

0.1

-

-

35.5

(3)

38.0

-

-

-

-

-

-

-

-

-

-

-

-

38.0

0.2

-

0.3

37.5

(4)

33.4

-

-

-

-

-

-

-

-

-

-

-

-

45.2

0.2

-

11.8*

33.2

(5)

45.9

-

-

-

-

-

-

-

-

-

-

-

-

45.9

2.3

-

13.3

30.3

(6)

77.2

-

-

-

-

-

-

-

-

-

-

-

-

77.2

0.1

-

54.4

22.7

(7)

83.4

-

-

-

-

-

-

-

-

-

-

-

-

83.4

1.3

-

62.8

19.3

(8)

141.8

10.3

-

-

-

-

-

-

-

8.3

-

1.7

0.3

152.1

0.8

14.0

122.0

15.3

(9)

92.3

11.5

-

-

-

-

-

-

-

8.3

-

2.8

0.4

103.8

0.2

16.5

60.2

26.9

(10)

107.6

17.2

-

-

-

-

-

-

-

13.0

-

3.8

0.4

124.8

-

37.0

0.2

87.6

(11)

70.2

18.1

-

-

-

-

-

-

-

13.0

0.1

4.4

0.6

88.3

0.2

48.1

-

40.0

(12)

107.0

16.2

-

-

-

-

-

-

-

11.2

-

4.6

0.4

123.2

3.8

50.7

10.9

57.8

(13)

98.2

16.9

-

-

-

-

-

-

2.2

11.3

0.1

3.0

0.3

115.1

4.1

49.4

41.2

20.4

(14)

121.5

6.5

-

-

-

-

0.1

-

-

-

1.4

4.5

0.5

128.0

4.6

55.8

17.9

49.7

(15)

116.3

41.9

-

2.2

-

23.5

-

-

0.6

-

12.0

3.1

0.5

158.2

2.0

62.7

40.8

52.7

(16)

(Contd)

8.4

110.0

-

0.5

-

99.5

-

4.5

0.2

0.1

4.6

0.6

118.4

1.2

61.1

44.4

11.7

(17)

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

Appendix 2(Gi): Official Transfer Payments Account : 1956-57 to 1989-90

Balance of Payments 52

Others

4

Payments

Exports on gift basis

Government exports-grants

Grants to Bangladesh

Grants to ITEC programme

7

8

9

Net (A-B)

Total

11 Others

Organisation

17.0

5.8

-

-

2.7

-

3.0

0.2

-

-

4.8

0.5

1750.0

Commodity agreement with Gulf states

10 Contribution to World Health

2.6

60.8

1767.0

6

Development Fund

Contribution to Indus Basin

extended by Government of India

Donations and technical assistance

international agencies

Government contribution to

in India

Pension on government account

15.2

1688.4@

5

4

3

2

1

PL 480 Title II

3

Total

PL 480 Title I

2

(18)

137.8

10.2

-

-

-

1.2

-

1.0

0.1

-

-

6.8

1.1

148.0

0.5

59.7

16.4

71.4

(19)

477.7

7.8

0.1

-

2.8

1.1

-

-

-

-

-

3.0

0.8

485.5

50.3

117.6

-

317.6

(20)

383.0

10.8

-

-

2.9

1.0

-

0.1

-

-

-

6.3

0.5

393.8

12.7

121.9

-

259.2

(21)

382.4

11.9

-

-

6.7

1.4

-

0.1

-

-

-

3.2

0.5

394.3

13.7

112.0

-

268.6

(22)

531.5

4.9

-

-

3.0

0.2

-

0.1

-

-

0.1

0.9

0.6

536.4

23.6

115.5

-

397.3

(23)

494.5

12.9

-

-

4.1

0.1

-

4.8

-

-

-

3.5

0.4

507.4

41.4

159.8

-

306.2

(24)

591.8

3.7

-

-

3.0

0.2

-

0.3

-

-

-

-

0.2

595.5

128.0

119.3

-

348.2

(25)

448.1

2.6

-

-

-

-

-

0.5

-

-

-

1.6

0.5

450.7

5.3

154.3

-

291.1

(26)

379.8

6.5

-

-

-

-

-

0.3

-

-

0.1

5.8

0.3

386.3

1.2

110.0

-

275.1

(27)

392.0

7.3

-

-

-

-

-

0.1

-

-

-

7.1

0.1

399.3

19.5

136.9

-

242.9

(28)

574.3

3.8

-

-

-

-

-

-

-

-

0.1

3.6

0.1

578.1

38.2

134.3

-

405.6

(29)

427.3

12.6

-

-

-

-

-

-

-

-

0.2

12.1

0.3

439.9

0.6

119.9

-

319.4

(30)

525.3

4.7

-

-

-

-

-

-

-

-

0.1

4.4

0.2

530.0

40.9

119.2

-

369.9

(31)

532.4

3.3

-

-

-

-

-

-

-

-

-

3.1

0.2

535.7

26.9

116.9

-

391.9

(32)

Notes : *: Include Rs 8.4 crore earmarked by the U.S. authorities to finance export of goods and services to Nepal under their economic aid programme to that country.
:@: Receipts for the year 1973-74 include Rs 1664 crore as official grant receipts under the agreement dated February 18, 1974 between the government of India and USA.
Sources: Reserve Bank of India Bulletin, May 2003, January 2001, April 1999
Monograph on India's Balance of Payments, July 1993

B

A

Grants from various countries

1

Receipts

Item

(Rupees, Crore)

724.2

8.7

-

-

-

-

-

-

-

-

-

8.4

0.3

732.9

43.7

171.0

-

518.2

(33)

896.8

5.2

-

-

-

-

-

-

-

-

-

5.0

0.2

902.0

24.2

127.9

-

749.9

(34)

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

Appendix 2(Gi): Official Transfer Payments Account : 1956-57 to 1989-90 (Concluded)

53 Balance of Payments

3 TOTAL-A B Payments Grants/donations from official sector 178.6 747.3 15 14. July 1993 Official Transfers Net (A-B) TOTAL-B 50 1507.4 TOTAL-A 1996-97 42.2 1055 306.8 11.1 50. Crore) (US $ Mn) 827. Crore) (US $ Mn) (Rs.2 1993-94 (Rs.5 5. April 1999 Monograph on India's Balance of Payments. Crore) (US $ Mn) 368 5 5 373 0 93 280 1309 13. Crore) (US $ Mn) 1155.5 201.5 1.1 1995-96 (Rs.4 1141.3 934. Crore) (US $ Mn) Sources: Reserve Bank of India Bulletin.3 1322.1 956.7 1991-92 (Rs.8 638.9 1170.1 B Payments Grants/donations from official sector 462 1 1 463 100 7 356 (Rs.residents Grant under PL 480 II Grants from other Governments A Receipts Official Transfers Net (A-B) TOTAL-B 1. May 2003.6 1002.8 291.9 315.7 223. Crore) (US $ Mn) Balance of Payments 54 .3 0 1465.9 1994-95 415 5 5 420 100 1 319 1657 2 2 1659 174 414 1071 1999-00 382 0 0 382 40 96 246 1546 10 10 1556 489 439 628 2000-01 336 2 2 338 107 95 136 (Rs.6 0.8 1992-93 363 1 1 364 106 0 258 1418 0 0 1418 6 386 1026 1997-98 379 0 0 379 2 105 272 1300 5 5 1305 0 400 905 1998-99 307 1 1 308 0 94 214 (Rs.7 Donations received from Non. Crore) (US $ Mn) (Rs. Crore) (US $ Mn) 1140 1.7 21 20 1193. Crore) (US $ Mn) Appendix 2(Gii): Official Transfers Account : 1990-91 to 2001-02 345 6 5 351 66 4 281 1847 4 4 1851 29 279 1543 2001-02 384 1 1 385 6 58 321 (Rs.3 2.4 4.3 878. Crore) (US $ Mn) 1172. Crore) (US $ Mn) (Rs. Crore) (US $ Mn) (Rs.8 Donations received from Non.1457.3 0.5 14.3 410 13 13 423 12 0 411 460 1 1 461 81 2 378 1052.7 2.7 829. January 2001.5 1.residents Grant under PL 480 II Grants from other Governments A Receipts 1990-91 (Rs.9 13.

47... .5 0.9 . .1 91. .1 100.5 0.4 68..4 72. .... . ..0 0. .. 5.3 - 78. 33.7 0.2 20.4 0. .. .0 4.6 - 9.0 .3 10.6 24.7 2..2 28. . ..8 62.2 0..6 14. 20.3 3.3 0..3 - 0.. 40.. ..4 0...1 3.7 16...3 - 3. 41. . .6 1.1 1.0 62. 3. . ...6 1.6 5.. . ..1 0...7 0..1 6.7 16..2 4.5 ..0 4..3 13.1 40..5 . . .3 4.4 1.3 42. ... .4 0. .. .2 0..1 .. .5 0.. . ..6 0. 15..2 - 1.5 4.2* - 5. . .. .4 75.1 21.2 116.8 0. Crore) .3 3.6 .7 0.3 0.2 - 1. . .1 4. ..0 .0 2. .. .6 - 9.6 - 9. ...1 5.. .. .9 0..7 3..1 104. .9 0..5 45. .3 34..2 6.9 3. ...3 26.8 28.3 6..5 2..6 6. .8 0..6 - 0.8 1..1 1. ... .4 0.1 0. .2 110. .. ..9 90..3 - 0.. ..B Total Net (A-B) Payments 1 Family maintenance 2 Personal gifts and donations to religious organisation and charitable institutions abroad 3 Migrants’ transfers by Indian nationals 4 Migrants’ transfers by foreign nationals 5 Transfers of legacies and assets in trust 6 Remittances of savings by foreign nationals 7 Personal income-tax and income-tax refunds 8 Transfers of provident fund and other retirement benefit funds 9 Pensions 10 Reimbursement of money order drawings 11 Lottery tickets and prizes A Total Receipts* 1 Receipts for family maintenance 2 Personal gifts and donations to religious orgainsations and charitableinstitutions in India 3 Migrants’ transfers by Indian nationals 4 Migrants’ transfers by foreign nationals 5 Transfers of legacies and assets in trust 6 Repatriation of savings by Indians resident abroad 7 Remittances of professional income-tax and income-tax refunds 8 Receipts of provident fund and other retirement benefit funds from abroad 9 Reimbursement of money order drawings 10 Others Item (Rupees. .8 63.6 0.9 - 18.0 - 0.0 16. 62. . .....2 0. .1 (Contd) 11.4 .3 0... 5. ....1 . . .2 .2 3...2 1.6 1.1 - 0. .5 15.8 .1 .2 2.2 0. .8 - 5.. .3 97.. .. . ..4 - 0.2 53.0 .7 . 21..6 . .7 1.4 0.7 - 1. . ... .0 0.. ..3 - 1....2 2. ..7 - 2..8 0.5 7. .1 73. 6.9 .. ...6 0.4 0.2 0.6 0. ..1 13..5 - 1.2 2.9 - 1. 31. .4 1.5 - 1.. 19.3 0.5 52..2 0.. 20....7 .5 - 1. 19..8 11...5 - 2.0 5. . .3 0. .2 0.6 - 1.5 16.9 0.6 - 9.3 0...9 52.0 0. . .7 0.3 - 2. .2 4.4 20.5 18. . 16.1 0.2 1.0 26. . ..1 71.2 . .5 5.3 8.2 4. .7 ..4 16.6 - 1.6 4.1 5. 57..4 7... .8 0.1 . .8 0. . .6 5.3 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) Appendix 2(Hi): Private Transfer Payments Account : 1956-57 to 1989-90 55 Balance of Payments . . . . ..0 - 1. 21.1 83.4 0.6 - 2. .5 6.2 13..6 3.1 3.. 35.1 0.7 41.3 .. . . . .4* - 4.. . 33. 44.1 .. .3 - 8. .6 16.2 - 1. . ....2 25. 56.3 99.7 - 10.2 - 0.5 - 1..8 1.3 - 0..3 0. ..5 4... .1 .0 5.1 0. ..0 75.9 .5 3.. ..7 - 8. . .4 - 0. .9 0..8 1.. .... .7 14.2 - 7.6 12. . . .6 0. 3.. ....1 0.2 0.3 - 0.2 6.8 47....3 6.6 25. 4.1 87.2 1.

7 - - 2.3 - 0.8 - - 0.5 0. May 2003.7 0.7 - 1.8 2700.5 0.8 0.7 0.5 453.4 1.6 - 0.5 2648.5 1.3 - - 3.8 11.7 - - 1.4 1.5 835.7 - 3.6 - 2.4 158.8 0.2 0.7 4.7 0.2 0.0 1.9 3532.2 - 1.2 2966.3 0.5 0.7 - 3.2 2.1 0.5 0.5 2066.9 - 1.6 6.7 - 0.6 7. Sources: Reserve Bank of India Bulletin.3 1.4 6.3 - 1.2 1.2 23.2 5.4 - 2.3 0.2 1.3 0.5 - 1.9 0.1 - - 1.3 0.8 0.7 2.1 0.9 - 0.2 1.1 1.1 9.0 - 0.2 0.5 3.6 8.0 - 0.2 14.8 4.2 crore reported in 1988-89 against Others is the compensation for Bhopal Gas tragedy received from Union Carbide Corporation ($ 425 million in US $) and Union Carbide (India) Limited ($45 million in Indian rupees) deposited with RBI on March 14.4 4.8 0.2 0.1 1.4 0.7 338.9 0.6 908.4 34.3 0.1 - 79.1 2.3 7.1 1.8 0.2 1.0 9.9 241.4 2.8 - 1.3 1.2 133.1 762.3 229.4 3.7 206.1 1.7 8.1 - 1.2 0.5 0. Crore) Notes :*: Exclusive of PL 480 Title grants which are shown separately in the table on Official Transfer Payments.8 0.4 0.5 - 137.4 2.8 - 0.0 0.4 - 122.8 3841.4 5.5 4.8 1.4 @ 0.3 14.5 2.6 506.8 531.1 1551.5 3.4 2.9 532.2 2082.5 - 39.4 0.7 3865.2 644.5 14.2 4.3 - - 0.7 1754.9 0.5 6.4 0.3 1.2 0.4 - 0.7 1.5 30.5 2.2 2.1 0.2 0.6 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) (Rupees.7 1092.7 0.2 2.4 16.7 0.1 4.4 0.9 0.6 1878.1 573.8 8.0 - 3.8 1.2 0.5 0.0 777.6 2637.3 3498.1 10.4 1251.7 0.5 152.7 1.5 0.2 2431.2 - 1.8 1790.6 1.5 0.7 2.9 0.5 0.2 10.1 673.6 1758.9 3.9 2027.2 26.0 120.4 566.3 6.1 403.6 - - 5.6 0.6 - - 2.8 1.9 755.9 0.1 1.4 6.3 0. 1989.8 0.6 2981.5 0.3 451.1 2.6 0.3 16.9 0.3 1.5 22.8 0.6 - 3.2 453.6 48.2 - 0.7 40.4 1932.8 0.5 0.8 0.5 201.5 6.7 0.4 0.6 1.2 3797.2 1.1 268.3 326.6 0.7 0.0 1.1 0.3 0.8 339.0 573.6 - 0.2 - 3.3 0.5 1.4 0.6 587.9 495.7 - 0.4 0.6 1199.4 0.5 16.6 2.9 2990.3 440.0 - 0.7 0.9 2.7 99.3 5.4 13. January 2001.4 15.1 1.1 0.0 - 1239. April 1999 Monograph on India's Balance of Payments.2 500.4 2.1 2.0 0.4 0.1 0.8 - - 0.5 1101.3 1.3 0.8 - 1.2 1762.7 0.4 - 1.8 10.0 0.2 1.3 1.6 12.1 1109.5 - 2.1 2.1 1.5 5.8 0.2 2.8 1983.1 0.4 3.1 1108.0 0.4 81.2 235.2 4.8 0.0.0 6.1 0.8 0.3 1.6 2125.0 0.4 4.0 146.6 0.7 0.0 610.6 1.8 2975. July 1993 B Total Net (A-B) Payments 1 Family maintenance 2 Personal gifts and donations to religious organisation and charitable institutions abroad 3 Migrants’ transfers by Indian nationals 4 Migrants’ transfers by foreign nationals 5 Transfers of legacies and assets in trust 6 Remittances of savings by foreign nationals 7 Personal income-tax and income-tax refunds 8 Transfers of provident fund and other retirement benefit funds 9 Pensions 10 Reimbursement of money order drawings 11 Lottery tickets and prizes A Total Receipts* 1 Receipts for family maintenance 2 Personal gifts and donations to religious orgainsations and charitableinstitutions in India 3 Migrants’ transfers by Indian nationals 4 Migrants’ transfers by foreign nationals 5 Transfers of legacies and assets in trust 6 Repatriation of savings by Indians resident abroad 7 Remittances of professional income-tax and income-tax refunds 8 Receipts of provident fund and other retirement benefit funds from abroad 9 Reimbursement of money order drawings 10 Others Item Appendix 2(Hi): Private Transfer Payments Account : 1956-57 to 1989-90 (Concluded) Balance of Payments 56 .7 8.4 2.4 22.3 3.1 - 65.2 5.9 0.5 0.9 0.7 315.4 0.4 0.5 - - 3.6 551.1 2416.4 4.6 2.1 386.6 3.4 - 59.1 6. :@: The figure of Rs 644.1 15.5 2.8 - 57.6 371.2 1.2 2136.7 2.9 - - 4.9 - 1.1 0.3 7.6 3823.4 - 2.8 2117.1 358.0 2715.3 1.2 0.4 15.

7 2083 0 0 3736.9 240.9 28768 4584.1 68 12367 2 7.7 6. April 1999 Monograph on India's Balance of Payments.2 1843.2 (13) 1996-97 (Rs.2 0 (12) 33 8506 6 11 8539 1359 1943 0 1003 1995-96 3387.7 25474.8 10. Crore) (US $ Mn) (Rs.5 2576. July 1993 B.4 0 1611.1 0 5421 (9) 19 8093 4 3 8112 587 2100 0 1727 (10) 108.6 25416.9 25.5 2718 726 9649. A. A. Crore) (US $ Mn) Note: The total figures for the year 1990-91 to 1996-97 will not tally since all the items are not available for all the years.1 17 61. Crore) (US $ Mn) (Rs.5 (3) (Rs. Crore) (US $ Mn) 14 2069 1 0.1 5238.4 9. Crore) (US $ Mn) (Rs. Items 1990-91 (Rs.6 8. Crore) (US $ Mn) (Rs.3 12435 3427 12215.7 626 (2) 1122. Crore) (US $ Mn) (Rs.2 43968.1 44208.A RECEIPTS Inward remittance from Indian workers abroad for family maintenance Local withdrawals / redemptions of non-resident deposits Gold and silver brought through passenger baggage Personal gifts / donations to charitable/religious institutions in India Items TOTAL . 1999 Source: Reserve Bank of India Bulletin.2 28659.3 11260.9 852.7 6546. The same can be taken from the Reserve Bank of India Bulletin.1 2629.8 9.9 6593.1 5.7 0 2127.8 1299.8 (1) 344 0 0 702 (4) 15 3783 4 4 3798 1991-92 35 11225.3 10. Crore) (US $ Mn) (Rs.5 0 0 1743.B PRIVATE TRANSFERS NET (A-B) PAYMENTS Remittance by foreign workers for family maintainance Personal gifts/donations to charitable/religious institutions abroad TOTAL .A RECEIPTS Inward remittance from Indian workers abroad for family maintenance Local withdrawals / redemptions of non-resident deposits Gold and silver brought through passenger baggage Personal gifts / donations to charitable/religious institutions in India 0 417 0 747.1 (11) 165 43765 12 153 43930 1954 9900 12773 19303 (15) (16) 45 11830 3 42 11875 526 2699 3418 5232 1997-98 252 43242 33 219 43494 2728 705 7808 32253 (17) (18) 61 10280 8 53 10341 650 171 1859 7661 1998-99 148 53132 23 125 53280 3182 57 17849 32192 (19) (20) 34 12256 5 29 12290 734 13 4120 7423 1999-00 2000-01 344 58412 143 201 58756 3729 41 17305 37681 (21) 75 12798 31 44 12873 818 9 3791 8255 (22) 315 57821 143 172 58136 3138 62 16422 (24) 67 12125 30 37 12192 659 13 3444 8076 2001-02 38514 (23) (Rs. Crore) (US $ Mn) Appendix 2(Hii): Private Transfers : 1990-91 to 2001-02 57 Balance of Payments . Crore) (US $ Mn) (Rs.9 16582. January 2001.8 (7) 0 514 (8) 22 5265 2 2 5287 838 1670 1993-94 1994-95 57.7 3711 5 9. B.4 16513.TOTAL . Crore) (US $ Mn) (Rs.9 (5) 0 730 (6) 12 3852 3 3 3864 445 1076 1992-93 68.6 11.B PRIVATE TRANSFERS NET (A-B) PAYMENTS Remittance by foreign workers for family maintainance Personal gifts/donations to charitable/religious institutions abroad TOTAL . May 2003.3 3136.8 20 37.6 9418.3 2518 (14) 8950. Crore) (US $ Mn) 37. April.5 9381.

l 131.5 3.1 86.7 1.5 -45.0 459.3 14.6 0.7 4.1 9.0 129. Crore) c: Includes portfolio investment d: Inflow during 1948 to 1953 e: Inflow during 1954 to 1955 1.9 48..5 2.1 996.9 692.1 40.7 33.4 10.0 25. 303.9 84.0 139.5 14.5 679.6 -15.7 18.4 17.8 54.6 30.7 49.7 1.7 42.9 0.6 957.8 876.0 2764.1 1088.1 2.5 628.7 14.6 15.4 27.6 7.9 1962-63 (9) (Rupees.8 867..8 0.4 35.0 17.1 128.8 29.0 184.7 0.6 1048.0 101.8 44.6 -0.4 0.2 37.6 35.5 15.0 1015.1 35.1 875.8 7.6 10.0 65.0 442.0 478.23.5 562. Data are not available for 1980-81 through 1985-86 as no survey was conducted during this period.3 1.5 582.5 43.4 24.0 1.4 767.1 5. Inflow under foreign investment 1 Direct Investment (net) A.9 973.7 28.0 2201.5 1052.5 31. 2.3 95.7 9. Source: Monograph on India’s Balance of Payments.4 37.1 920.7 35.7 826.4 1958-59 (5) 10.3 766.8 47.0 -32.4 34. 3.4 72.4 386. Foreign controlled rupee companies (a) Gross inflow (i) Equity (ii) Retained earnings (b) Outflow B. In view of the shift in the assessment period from calendar year to financial year it has not been possible to indicate the inflows/outflows during 1962-63.1 34.0 22.3 130.3 33.5 17.. 5.4 28.2 3.3 - 37. Outstanding Liability under Foreign Investment (a) Direct investment (b) Portfolio investment II.3 2.0 7.9 131.1 49.0 74.4 0.4 20. Stock figures relate to end of the period and flow figures relate to during the year. 112.5 567.2 69.0 430.7 14.1 5.1 36.8 60..3 409.3 28.6 0.2 2.6 3.2 131.6 7.2 6. Flow of long-term foreign liabilities are exclusive of valuation changes and hence would differ from the net changes in the book values at from outstanding levels.0 100.1 2.4 1957-58 (4) 2. 7.6 0.2 6.7 1015.6 .7 31.0 8.5 15.0 249.3 928.9 1955-56 (2) (Rupees.9 65.5 2.0 1.6 10.4 878.8 13. Data for the years 1953 to 1962 relate to calendar years while those for 1963-64 onwards relate to fiscal years.7 -0. 6.4 735. .0 - 30.9 5.4 6.2 2.8 43.1 1.0 87.7 26. ..6 -26.9 0. Portfolio equity investment in non-foreign controlled rupee companiesand ordinary shares of foreign controlled rupee companies held by investors in countries other than the country of control and investment in preference shares and debentures.0 -0. non-resident holdings of preference shares and debentures of rupee companies.0 .5 1963-64 (10) 17.7 65.8 30.4 0.2 1103. .0 1.0 176.7 37.3 10. Crore) 25.6 495.4 32.5 796.9 611.7 138.2 141.8 2.8 9.7 68.9 -5.5 25.1 69.0 532.9 710.9 48.3 3.9 -17.0 . Net Inflow of Foreign Investment (a) Gross Inflow (i) Retained earnings (ii) Equity (b) Outflow I.6 18.2 152.1 2.8 0.3 12.8 6.0 2045. Outstanding Liability under foreign investment (i) Direct Investment (ii) Portfolio Investment Item (1) Appendix 3(A): Private Foreign Investment : 1955-56 to 1963-64 Balance of Payments 58 .9 1960-61 (7) 28.9 844.5 434.7 -6.9 -25. Figures represent equity holding of investors in the country of control and their proportionate share in the free reserves of the foreign controlled rupee companies.2 0.6 6.0 2.1 24.8 37.2 51.4 0.2 629.8 19.0 -3.6 1961-62 (8) 29.0 65.6 933.3 30.8 527. July 1993 Notes: II.1 12. 4.5 2.8 9.2 33.4 2.5 69.1 1959-60 (6) 51.6 28.1 15.6 38.0 -9.7 24.8 19.0 735.7 88.7 44.2 0. 260.2 -12..0 3.6 46. 8.7 177.4 816.3 111.3 12.1 35.9 2.8 30.8 12.4 28.6 29. .2 67.0 -18.2 11.1 0.5 51.6 1956-57 (3) 20. .1 677. . Data between 1987-88 to 1989-90 is not available.2 25.5 1.9 9.8 1074.5 55. .1 63.0 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) Appendix 3(B): Private Foreign Investment : 1964-65 to 1987-88 14.6 696.0 37.9 3.4 0.1 2.3 24.0 77.7 2.0 1742.4 108..0 3.7 916.8 22.0 565.2 42.1 1.5 634.9 8.6 167.7. banking.2 11.5 2.4 21.9 19.6 11.9 12.1 19.1 24.5 -7.9 0.8 737.3 38.9 33.1 9.1 2.0 719.1 42.5 2. Insurance and Government companies are excluded..9 34.9 92.9 0.8 443.4 23.6 3..5 25.8 7. Branches (net) 2 Portfolio investment (net) (a) Inflow (b) Outflow I.7 139. Foreign controlled rupee companies are Indian joint stock companies which are (i) subsidiaries of foreign companies (ii) companies in which 40% or more of the equity sharecapital is held by a foreign company or its nominees.1 -26..4 140.3 -65.0 2.8 63.2 8.0 1.7 -4.3 0.5 63.

144 2. Portfolio Investment a. .314 (6) 1994-95 4892 56 2. Reinvested bodies unincorporated e.. Offshore funds and ...009 683 2. 97 A. . NRI b.760 279 1. ... ...821 (8) 1996-97 5385 204 979 645 1..505 477 2.312 .926 1. .026 ...847 831 2. . 4153 382 1.366 3. . .131 (13) 2001-02 5639 2 377 600 979 462 1. . : Represents the amount raised by Indian corporates through Global Depositary Receipts (GDRs) and American Depository Receipts (ADRs) : Represents inflow of funds (net) by Foreign Institutional Investors (FIIs) # 16052 - 10918 459 11377 488 1800 190 735 - 534 928 2387 4675 (15) 2003-04 : Relates to acquisition of shares of Indian companies by non-residents under Section 5 of FEMA.. .. Sources: Reserve Bank of India Bulletin.. Notes $$ : Data pertain to inter-company debt transactions of FDI entities.. .821 2. Direct Investment (I+II+III) a.. GDRs/ADRs # b.400 4.567 ...462 (10) 1998-99 5181 123 2..249 2.. FIIs ** 133 559 3 1 240 244 . Equity (a+b+c+d+e) (SIA/FIPB) 6 - - B.. Other Capital $$ II.824 . . 11 715 169 1. - 66 129 129 (3) 1991-92 .557 (9) 1997-98 2401 59 -390 270 -61 . .748 . . RBI . .520 3. earnings $ . therefore. 63 .. .557 3.. . .410 2...314 1... . 103 4 - - 4 . 217 89 280 586 586 (5) 1993-94 5138 239 1. 442 171 701 1...821 2. I.646 191 881 35 767 2. Acquisition of c..155 2155 (11) 1999-00 6789 82 1.665 1.. 400 62 179 1. . Equity capital of shares* d.828 . 51 42 222 315 315 (4) 1992-93 (In US Million) * Total (A+B) others 6 .754 3.135 768 3.082 3.029 (12) 2000-01 8152 39 1.095 6.144 (7) 1995-96 6133 20 1.021 390 1.221 4. August 2004 and various earlier issues.503 2. c.350 61 362 67 454 1. . 490 84 171 1...660 (14) 2002-03 : Data for 2002-03 are estimated as average of previous two years... . 1999. are not comparable with FDI data for previous years.462 2...922 2.. These data.. III.498 126 916 - 739 919 2.456 2. Data on such acquisitions have been included as part of FDI since January 1996. ** $ : Data on FDI has been revised since 2000-01 with expanded coverage to approach international best practices.700 4. .. 125 639 135 1. Government (2) 1990-91 (1) Appendix 3(C): Foreign Investment Inflows : 1990-91 to 2002-03 59 Balance of Payments . 360 241 202 2..

0 -896.0 3835.0 507.2 112.0 1309.0 - 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 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 FCNRA@ 7.5 50.5 135.8 770.3 420.2 116.9 341.0 777.7 138.8 321.3 684.0 21574.0 U.6 616.0 3295.7 87.0 799.1 1540.1 126. crore (2) (1) Year 33.3 434.2 209.5 118.0 783. crore (6) 34.4 156.2 603.0 689.0 4381.S.2 384.8 168.3 130.5 874.0 324.S.0 860.1 134.0 - U.1 140.7 556.0 277.0 -27.4 17.$ million (7) Excluding estimated accrued interest Balance of Payments 60 .0 86.0 -7416.6 -5.6.4 358.3 109.0 236.9 365. Sources: Monograph on India's Balance of Payments.4 368.7 167.7 -16.4 373.8 1051.0 -2364.0 111.0 -208.0 255.3 111.5 546.0 223.8 117.0 29981.2 575. July.6 167.4 1151.1 299.5 -97.8 488.8 792.7 97.$ million (5) Including accrued interest NR(E)RA Appendix 4(A): Inflows under FCNR and NR(E)RA Accounts : 1975-76 to 2003-03 29.0 608.0 2437.0 2165.S.0 -44.3 93.0 477.0 39.0 235.7 -18.0 1244.0 4434.0 1197.9 231.0 Rs. RBI 2003-04 Rs.0 - U.2 -4.0 -3.0 84.8 1362.8 203.0 477.0 255.3 115.7 503.0 6195.0 4695.0 1049.1 331.8 2230.0 1626.2 512.0 885.0 168.0 83.0 -1611.6 594.0 162.7 940.0 156.2 258.1 21.8 330.$ million (3) Notes: @: Excluding accrued interest.8 320.0 793.2 1172.0 166.0 -3605.5 55.4 275.3 -6.4 206.8 917.0 3361.0 - Rs. crore (4) 38. 1993 Handbook of Statistics on the Indian Economy.7 597.1 609.0 7755.0 3929.

NR(NR)RD 2304 3. $ million) ** ** 2. $ million) Appendix 4(B): NRI Deposits . 3063 @ * @@ 7051 2. 1993 *** : introduced in June.FCNR(A) Year (end March) (1) (U.147 9076 * 2001 (12) *** 3618 ** 10103 1991 (2) ** 1145 ** 185 1981 (8) 7052 8.S. FCNR(A) Year (end March) (1) 1985 (2) ** (U. NR(NR)RD 770 1.Outstandings : 1975-76 to 2002-03 1746 20.S. NR(E)RA 4. FCNR(B) 1975 (2) 1. 1992 Note : All figures are inclusive of interest and valuation changes arising on account of fluctuation in non-dollar currencies against US Dollar Source: Reserve Bank of India Bulletin.559 10961 * 2004 (15) 1754 3523 1108 9300 1994 (5) ** 2105 ** 570 1984 (11) 61 Balance of Payments . 2002.449 9673 * 2002 (13) *** 3025 ** 9792 1992 (3) ** 1347 ** 157 1982 (9) 3407 14. November 2004 and various earlier issues. 1994 : The inflows into NR(E)RA deposits during the year 2003-04 may partly be due to crediting of maturity proceeds of the NR(NR)R deposits which were discontinued with effect from April 1.40 ** 3. FCNR(B) 4.NR(E)RA 4.NR(NR)RD 3542 3916 5720 4255 1996 (7) ** 2817 ** 1770 1986 (3) ** 71 ** 9 1976 (3) 5604 4983 7496 2306 1997 (8) ** 3354 ** 2719 1987 (4) ** 216 ** 65 1977 (4) 6262 ** 3774 ** 5275 1989 (6) 6618 6045 7835 * 1999 (10) (As at the end of March) 5637 8467 ** 604 ** 192 1979 (6) (As at the end of March) 1 1998 (9) ** 3942 ** 3828 1988 (5) ** 386 ** 168 1978 (5) (As at the end of March) 6754 6758 8172 * 2000 (11) ** 3777 ** 6586 1990 (7) ** 856 ** 188 1980 (7) 6849 7.FCNR(B) 1995 (6) 1. $ million) ** 2.S.923 10199 * 2003 (14) 610 2740 ** 10617 1993 (4) ** 1684 ** 252 1983 (10) : inclusive of accrued interest : withdrawn effective August. NR(E)RA 4556 2486 3. FCNR(A) Year (end March) (1) (U. ** : introduced in May.

6) 802 (4. 1042 1464 (5. 1085 1526 (5.A. 896 1209 (6.A. Crore) Item (1) (12) 1960-61 1961-62 1962-63 1963-64 1964-65 1965-66 1966-67 1967-68 1968-69 1969-70 (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) 784 (4.0) N.4) 1015 (3. 1650 2201 (6.2) 1508 (4.A.3) N.A.A.A. N.3) 985 (4.8) 2 2 2 1 3 4 5 1 7 7 14 12 11 11 11 11 18 20 26 34 45 53 48 55 56 95 110 121 144 139 N.8) N. -495 845 -361 869 -448 896 -448 1052 -619 1085 -616 1042 -930 1458 -849 1650 -427 1774 -269 1805 -495 -361 -448 -448 -619 -616 -930 -849 -427 -269 45 0 -450 23 0 -338 60 0 -388 76 0 -372 128 0 -491 76 0 -540 71 0 -859 22 0 -827 40 0 -387 19 0 -250 0 0 0 0 0 0 0 0 0 0 -450 -450 -338 -338 -388 -388 -372 -372 -491 -491 -540 -540 -859 -859 -827 -827 -387 -387 -250 -250 I Current Transactions (1) Exports of goods and services (2) Compensation of Employees from the rest of the world Property and enterprenuerial income from the rest of the world Other current transfers from the rest of the world Adjustment of merchandise exports to the change of ownership basis* Current receipts Imports of goods and services (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) Compensation of employees to the rest of the world Property and enterpreneurial income to the rest of the world Other current tranfers to the rest of the world Adjustment of merchandise imports to the change of ownership basis* Surplus of the nation on current transactions Disposal of current receipts II Capital Transactions (14) (15) (16) (17) (18) (19) (20) Surplus of the nation on current transactions Capital transfers from the rest of the world (Net) Incurrence of foreign liabilities (Net) Receipts Purchases of intangible assets n.1) 1625 (3.Balance of Payments 62 Appendix 5: External Transactions As Per CSO’s National Accounts Statistics As Per 1980-81 Series (at Current Prices) (Rupees.A. 1052 1363 (6.A.A.A. N.4) 1325 (4.A. N.A.9) 932 (3.9) N. N. 869 1110 (6.1) N.1) 11 16 18 13 22 26 35 37 37 33 62 80 95 103 120 135 211 230 240 252 17 18 14 13 17 16 20 19 16 14 N. 1805 1747 (4.1) 1597 (4. 1458 2115 (6.8) N. 845 1236 (7.A.A. 1774 1897 (4.A. N.A.4) 835 (4.e. from the rest of the world (Net) Acquisition of foreign financial assets Disbursements (Contd) .c.A.2) N.1) N. N. N. N.A.A.A.2) N. N.

A.2) 11 12 11 12 11 11 23 48 54 20 300 282 305 325 281 322 368 410 452 433 13 12 11 12 6 13 7 7 17 8 86 N.3) 30 7968 6522 (6.4) -171 8405 7426 (6.2) -13 7064 5614 (6.1) N. from the rest of the world (Net) Acquisition of foreign financial assets Disbursements (Contd) .c.0) N.A. 2358 2328 (4.7) -258 10408 9859 (8.9) 4812 (5.5) 7115 (6.3) -172 2907 3176 (4.8) 6636 (6. 2003 1994 (4.9) 1785 (3. -226 -362 0 -257 -487 584 668 -424 1832 -518 2003 -327 2358 -425 2907 -748 4062 77 5606 1275 7064 1417 7968 -180 8405 -627 10408 -424 -518 -327 -425 -748 77 1257 1417 -180 -627 53 0 -371 75 0 -443 43 0 -284 1691 0 1266 8 0 -740 176 0 -371 216 0 253 270 0 1491 296 0 116 336 0 -288 0 0 0 0 0 0 0 0 0 0 -371 -371 -443 -443 -284 -284 1266 1266 -740 -740 253 253 1491 1491 1687 1687 116 116 -288 -288 I Current Transactions (1) Exports of goods and services (2) Compensation of Employees from the rest of the world Property and enterprenuerial income from the rest of the world Other current transfers from the rest of the world Adjustment of merchandise exports to the change of ownership basis* Current receipts Imports of goods and services (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) Compensation of employees to the rest of the world Property and enterpreneurial income to the rest of the world Other current tranfers to the rest of the world Adjustment of merchandise imports to the change of ownership basis* Surplus of the nation on current transactions Disposal of current receipts II Capital Transactions (14) (15) (16) (17) (18) (19) (20) Surplus of the nation on current transactions Capital transfers from the rest of the world (Net) Incurrence of foreign liabilities (Net) Receipts Purchases of intangible assets n.3) 3835 (4.A. Crore) Item (1) (22) 1970-71 1971-72 1972-73 1973-74 1974-75 1975-76 1976-77 1977-78 1978-79 1979-80 (2) (13) (14) (15) (16) (17) (18) (19) (20) (21) 1771 (3.0) 2830 (4.8) 6139 (6.2) -135 5606 5143 (6.8) -149 4062 4779 (6.63 Balance of Payments Appendix 5: External Transactions As Per CSO’s National Accounts Statistics As Per 1980-81 Series (at Current Prices) (Rupees.5) 8381 (6.A. N.9) 8 8 6 3 1 2 4 56 4 8 49 35 38 42 95 116 188 268 398 645 136 175 165 204 280 541 746 1029 1059 1632 -132 1832 1816 (4.6) 2149 (4.e.

3) 27 72 72 113 112 178 380 390 332 762 1087 1350 1913 2009 2290 2842 4752 6212 16 14 11 15 14 15 34 34 26 278 620 208 1546 1506 2573 3448 5667 5226 -2611 13281 -2566 14963 -2517 16799 -3292 19779 -6234 19161 -6335 21060 -6825 25139 -12304 30839 -12279 39817 -2094 -2611 -2566 -2517 -3292 -6234 -6355 -6825 -12304 -12279 438 1864 208 294 1342 -975 270 3257 961 255 3774 1512 440 3588 736 307 4232 -1665 525 5707 -123 532 5864 -429 724 9658 -1922 897 10990 -392 0 0 0 0 0 0 0 0 0 0 208 208 -975 -975 961 961 1512 1512 736 736 -1695 -1695 -123 -123 -429 -429 -1922 -1922 -392 -392 I Current Transactions (1) Exports of goods and services (2) Compensation of Employees from the rest of the world 6 Property and enterprenuerial income from the rest of the world 859 Other current transfers from the rest of the world 2269 Adjustment of merchandise exports to the change of ownership basis* -135 Current receipts 12028 Imports of goods and services 13596 (9.3) II Capital Transactions (14) (15) (16) (17) (18) (19) (20) Surplus of the nation on current transactions Capital transfers from the rest of the world (Net) Incurrence of foreign liabilities (Net) Receipts Purchases of intangible assets n.3) 20281 (5.7) 25913 (6.from the rest of the world (Net) Acquisition of foreign financial assets Disbursements (Contd) .e.8) 853 21060 22359 (7.1) 9 10 9 12 14 9 17 33 113 820 515 469 590 679 654 586 613 700 2237 2541 2785 3116 2835 2991 3533 3865 3824 -41 13281 14809 (8.1) 34632 (7.5) 14951 (5.2) 722 25139 25259 (7.4) 16543 (5.9) 683 19161 21754 (7.1) 415 30839 32010 (7.8) 334 14963 15736 (8.Balance of Payments 64 Appendix 5: External Transactions As Per CSO’s National Accounts Statistics As Per 1980-81 Series (at Current Prices) (Rupees.c.1) 13139 (6.1) 11563 (6.6) 584 39817 40300 (8.0) 15846 (6. Crore) Item (1) (32) 1980-81 1981-82 1982-83 1983-84 1984-85 1985-86 1986-87 1987-88 1988-89 1989-90 (2) (23) (24) (25) (26) (27) (28) (29) (30) (31) 10256 (6.4) 397 16799 17675 (8.5) Compensation of employees to the rest of the world 35 Property and enterpreneurial income to the rest of the world 485 Other current tranfers to the rest of the world 12 Adjustment of merchandise mports to the change of ownership basis* -6 Surplus of the nation on current transactions -2094 Disposal of current receipts 12028 (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) 9029 (6.1) 215 19779 19484 (7.

Sources: CSO.2) 2377 195778 161022 (11.6) 67312 (9.1) 4683 3068 251591 2955832 224743 256007 (12.0) 144854 (10.1) 286 347 1277 1299 1504 1841 235 69 57 10466 12512 12455 14892 17120 15580 18765 23032 23747 37 35 68 58 108 240 165 252 148 3567 5488 5529 16183 17315 34833 36333 21582 35529 -3377 67228 -13816 77566 -4791 100238 -11891 125251 -20780 160220 -17738 195778 -22302 217529 -18087 251591 -19656 295832 -3377 -13816 -4791 -11891 -20780 -17738 -22302 -18087 -19656 1140 10606 8369 1053 12608 -155 1155 23965 20329 1309 19331 8749 1173 18753 -854 1457 53210 36929 1417 48072 27187 1300 48285 31497 1657 45675 27676 0 0 0 0 0 0 0 0 0 8369 8369 -155 -155 20329 20329 8749 8749 -854 -854 36929 36929 27187 27187 31497 31497 27676 27676 I Current Transactions (1) Exports of goods and services (2) Compensation of Employees from the rest of the world 74 Property and enterprenuerial income from the rest of the world 676 Other current transfers from the rest of the world 3737 Adjustment of merchandise exports to the change of ownership basis* 595 Current receipts 45717 Imports of goods and services 48696 (8. Note: Figures within bracket represent percentages to GDP at Current Market Prices.8) 2602 217529 184333 (12.1) 231111 (11.8) (13.0) 86147 (10.0) 130733 (11.0) 101607 (10.6) Compensation of employees to the rest of the world 320 Property and enterpreneurial income to the rest of the world 7975 Other current tranfers to the rest of the world 26 Adjustment of merchandise imports to the change of ownership basis* 6894 Surplus of the nation on current transactions -18196 Disposal of current receipts 5717 (3) (4) (5) (6) (7) (8) (9) (10) (11) (12) (13) 40635 (7.e.8) 117 35 105 278 302 528 0 180 646 558 1021 1284 2830 4838 3811 5795 7953 7727 9419 8124 11344 18881 22220 44208 43929 43494 53280 880 67228 56249 (8.3) 2127 160220 144953 (12.c.from the rest of the world (Net) 0 Acquisition of foreign financial assets -744 Disbursements -744 * Shows the difference between the figures of merchandise exports/imports from the two sources viz.6) 1074 77566 73000 (9. Crore) Item (1) (42) 1990-91 1991-92 1992-93 1993-94 1994-95 1995-96 1996-97 1997-98 1998-99 1999-00 (2) (33) (34) (35) (36) (37) (38) (39) (40) (41) 56254 (8. RBI and DGCI & S.9) 195281 (11.8) 1395 100238 85999 (10. National Accounts Statistics.1) II Capital Transactions (14) (15) (16) (17) (18) (19) (20) Surplus of the nation on current transactions -18196 Capital transfers from the rest of the world (Net) 828 Incurrence of foreign liabilities (Net) 16624 Receipts -744 Purchases of intangible assets n.65 Balance of Payments Appendix 5: External Transactions As Per CSO’s National Accounts Statistics As Per 1980-81 Series for 1990-91 to 1992-93 and As Per 1993-94 Series thereafter (All at Current Prices) (Concluded) (Rupees. (various issues) .0) 1655 125251 104710 (10.6) 165203 (10.