No. 42: India’s Overall Balance of Payments

(Rs. Crore)

Items

2007-08 P

2006-07 PR

Credit

Debit

Net

Credit

Debit

Net

1

2

3

4

5

6

7

A.

CURRENT
ACCOUNT

I.
MERCHANDISE

637,190

999,286

-362,096

579,128

865,404

-286,276

II.
INVISIBLES (a+b+c)

583,424

291,685

291,739

519,425

278,492

240,933

a)

Services

352,315

201,392

150,923

343,895

200,291

143,604

i)

Travel

45,524

37,083

8,441

41,127

30,253

10,874

ii)

Transportation

38,156

46,665

-8,509

36,394

36,504

-110

iii)

Insurance

6,371

4,186

2,185

5,434

2,903

2,531

iv)

G.n.i.e.

1,334

1,544

-210

1,130

1,825

-695

v)

Miscellaneous

260,930

111,914

149,016

259,810

128,806

131,004

of which

Software Services

161,968

13,081

148,887

141,356

10,212

131,144

Business Services

66,878

66,923

-45

86,928

76,929

9,999

Financial Services

12,392

11,438

954

13,062

9,352

3,710

Communication Services

9,797

3,368

6,429

9,506

2,980

6,526

b)

Transfers

173,995

9,334

164,661

1,33,530

6,423

127,107

i)

Official

3,029

2,077

952

2,877

1,858

1,019

ii)

Private

170,966

7,257

163,709

1,30,653

4,565

126,088

c)

Income

57,114

80,959

-23,845

42,000

71,778

-29,778

i)

Investment
Income

55,397

76,543

-21,146

40,218

67,483

-27,265

ii)

Compensation of
Employees

1,717

4,416

-2,699

1,782

4,295

-2,513

Total

Current Account (I+II)

1,220,614

1,290,971

-70,357

1,098,553

1,143,896

-45,343

B.

CAPITAL ACCOUNT

1.

Foreign Investment (a+b)

1,084,072

903,920

180,152

598,106

527,663

70,443

a)

Foreign Direct
Investment (i+ii)

140,240

77,901

62,339

1,03,610

65,057

38,553

i.

In India

130,252

506

129,746

99,646

385

99,261

Equity

101,215

438

100,777

74,354

385

73,969

Reinvested
Earnings

27,714

–

27,714

23,029

–

23,029

Other Capital

1,323

68

1,255

2,263

–

2,263

ii.

Abroad

9,988

77,395

-67,407

3,964

64,672

-60,708

Equity

9,988

60,167

-50,179

3,964

54,634

-50,670

Reinvested
Earnings

–

4,363

-4,363

–

4,868

-4,868

Other Capital

–

12,865

-12,865

–

5,170

-5,170

b)

Portfolio Investment

943,832

826,019

117,813

4,94,496

462,606

31,890

In

India

942,872

825,718

117,154

4,94,102

462,472

31,630

Abroad

960

301

659

394

134

260

2.

Loans
(a+b+c)

335,471

166,843

168,628

246,908

136,279

110,629

a)

External Assistance

17,022

8,557

8,465

16,961

9,024

7,937

i)

By India

97

113

-16

73

163

-90

ii)

To India

16,925

8,444

8,481

16,888

8,861

8,027

b)

Commercial Borrowings (MT&LT)

120,173

30,856

89,317

94,332

21,736

72,596

i)

By India

6,245

6,303

-58

2,936

4,290

-1,354

ii)

To India

113,928

24,553

89,375

91,396

17,446

73,950

c)

Short Term to
India

198,276

127,430

70,846

135,615

105,519

30,096

i)

Suppliers' Credit > 180 days & Buyers’ Credit

171,182

127,430

43,752

115,125

100,196

14,929

ii)

Suppliers' Credit up to 180 days

27,094

–

27,094

20,490

5,323

15,167

3.

Banking Capital (a+b)

223,654

176,507

47,147

167,494

159,017

8,477

a)

Commercial Banks

223,338

174,793

48,545

165,656

158,660

6,996

i)

Assets

78,365

50,733

27,632

64,972

80,726

-15,754

ii)

Liabilities

144,973

124,060

20,913

100,684

77,934

22,750

of which:
Non-Resident Deposits

117,757

117,051

706

89,950

70,376

19,574

b)

Others

316

1,714

-1,398

1,838

357

1,481

4.

Rupee Debt Service

–

488

-488

–

725

-725

5.

Other Capital

75,956

37,492

38,464

34,540

16,975

17,565

Total Capital Account
(1to5)

1,719,153

1,285,250

433,903

1,047,048

840,659

206,389

C.

Errors & Omissions

6,143

–

6,143

2,588

–

2,588

D.

Overall Balance (Total Capital Account,

2,945,910

2,576,221

369,689

2,148,189

1,984,555

163,634

Current Account and
Errors & Omissions (A+B+C))

E.

Monetary Movements
(i+ii)

–

369,689

-369,689

–

163,634

-163,634

i)

I.M.F.

–

–

–

–

–

–

ii)

Foreign Exchange
Reserves ( Increase - / Decrease +)

–

369,689

-369,689

–

163,634

-163,634

P: Preliminary
PR : Partially Revised.
R. : Revised.
Also see ‘Notes on Tables’.

No. 42: India’s Overall Balance of Payments (Contd.)

(Rs. Crore)

Items

Apr.-Jun. 2008 P

Apr.-Jun. 2007 PR

Credit

Debit

Net

Credit

Debit

Net

1

8

9

10

11

12

13

A.

CURRENT ACCOUNT

I.

MERCHANDISE

182,049

313,573

-131,524

147,421

232,781

-85,360

II.

INVISIBLES (a+b+c)

157,169

70,316

86,853

119,993

60,615

59,378

a)

Services

91,515

47,938

43,577

77,620

41,627

35,993

i)

Travel

10,431

8,994

1,437

8,610

7,756

854

ii)

Transportation

10,143

13,813

-3,670

7,855

10,276

-2,421

iii)

Insurance

1,408

933

475

1,522

759

763

iv)

G.n.i.e.

542

462

80

396

462

-66

v)

Miscellaneous

68,991

23,736

45,255

59,237

22,374

36,863

of which

Software Services

44,389

3,570

40,819

36,435

3,282

33,153

Business Services

16,962

13,430

3,532

16,411

13,170

3,241

Financial Services

3,103

2,612

491

2,598

2,528

70

Communication Services

2,474

941

1,533

2,115

825

1,290

b)

Transfers

50,770

2,774

47,996

32,786

1,785

31,001

i)

Official

629

504

125

631

684

-53

ii)

Private

50,141

2,270

47,871

32,155

1,101

31,054

c)

Income

14,884

19,604

-4,720

9,587

17,203

-7,616

i)

Investment Income

14,238

18,229

-3,991

9,298

16,387

-7,089

ii)

Compensation of Employees

646

1,375

-729

289

816

-527

Total Current Account (I+II)

339,218

383,889

-44,671

267,414

293,396

-25,982

B.

CAPITAL ACCOUNT

1.

Foreign Investment (a+b)

221,448

196,833

24,615

174,986

133,275

41,711

a)

Foreign Direct Investment (i+ii)

51,642

9,498

42,144

31,985

21,026

10,959

i.

In India

50,646

92

50,554

28,864

87

28,777

Equity

42,656

92

42,564

21,310

87

21,223

Reinvested Earnings

7,169

–

7,169

7,096

–

7,096

Other Capital

821

–

821

458

–

458

ii.

Abroad

996

9,406

-8,410

3,121

20,939

-17,818

Equity

996

6,398

-5,402

3,121

18,065

-14,944

Reinvested Earnings

–

1,129

-1,129

–

1,117

-1,117

Other Capital

–

1,879

-1,879

–

1,757

-1,757

b)

Portfolio Investment

169,806

187,335

-17,529

143,001

112,249

30,752

In India

169,727

187,131

-17,404

142,758

112,224

30,534

Abroad

79

204

-125

243

25

218

2.

Loans (a+b+c)

56,832

39,823

17,009

68,339

31,084

37,255

a)

External Assistance

3,787

2,324

1,463

3,019

2,025

994

i)

By India

25

33

-8

25

29

-4

ii)

To India

3,762

2,291

1,471

2,994

1,996

998

b)

Commercial Borrowings (MT&LT)

11,589

5,095

6,494

34,113

5,291

28,822

i)

By India

1,687

804

883

1,464

1,196

268

ii)

To India

9,902

4,291

5,611

32,649

4,095

28,554

c)

Short Term to India

41,456

32,404

9,052

31,207

23,768

7,439

i)

Suppliers' Credit > 180 days & Buyers’ Credit

38,557

32,404

6,153

28,382

23,768

4,614

ii)

Suppliers' Credit up to 180 days

2,899

–

2,899

2,825

–

2,825

3.

Banking Capital (a+b)

79,250

67,857

11,393

35,260

39,049

-3,789

a)

Commercial Banks

79,250

67,395

11,855

35,260

39,024

-3,764

i)

Assets

35,545

31,692

3,853

10,486

11,797

-1,311

ii)

Liabilities

43,705

35,703

8,002

24,774

27,227

-2,453

of which: Non-Resident Deposits

37,744

34,358

3,386

21,619

23,462

-1,843

b)

Others

–

462

-462

–

25

-25

4.

Rupee Debt Service

–

125

-125

–

177

-177

5.

Other Capital

10,768

8,610

2,158

4,070

7,546

-3,476

Total Capital Account (1to5)

368,298

313,248

55,050

282,655

211,131

71,524

C.

Errors & Omissions

–

1,069

-1,069

641

–

641

D.

Overall Balance (Total Capital Account,

707,516

698,206

9,310

550,710

504,527

46,183

Current Account and Errors & Omissions (A+B+C))

E.

Monetary Movements (i+ii)

–

9,310

-9,310

–

46,183

-46,183

i)

I.M.F.

–

–

–

–

–

–

ii)

Foreign Exchange Reserves ( Increase - / Decrease +)

–

9,310

-9,310

_

46,183

-46,183