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<) |
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<) |
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 |
|