43. India's Overall Balance of Payments in Dollars

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Published on January 16, 2008

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43. India's Overall Balance of Payments in Dollars

(US $ million)
Items					2006-07 PR			2005-06 R
					Credit	Debit	Net	Credit	Debit	Net
1					2	3	4	5	6	7
A.	CURRENT ACCOUNT
	I.	Merchandise			128083	191254	-63171	105152	157056	-51904
	II.	Invisibles (a+b+c)			115074	61669	53405	89687	47685	42002
		a)	Services		76181	44371	31810	57659	34489	23170
			i)	Travel	9123	6685	2438	7853	6638	1215
			ii)	Transportation	8050	8068	-18	6325	8337	-2012
			iii)	Insurance	1202	642	560	1062	1116	-54
			iv)	G.n.i.e.	250	403	-153	314	529	-215
			v)	Miscellaneous of which	57556	28573	28983	42105	17869	24236
				Software Services	31300	2267	29033	23600	858	22742
				Business Services	19266	17093	2173	9307	7748	1559
				Financial Services	2913	2087	826	1209	965	244
				Communication Services	2099	659	1440	1575	289	1286
		b)	Transfers		29589	1421	28168	25620	933	24687
			i)	Official	638	411	227	669	475	194
			ii)	Private	28951	1010	27941	24951	458	24493
		c)	Income		9304	15877	-6573	6408	12263	-5855
			i)	Investment Income	8908	14926	-6018	6229	11491	-5262
			ii)	Compensation of Employees	396	951	-555	179	772	-593
	Total Current Account (I+II)				243157	252923	-9766	194839	204741	-9902
B.	CAPITAL ACCOUNT
	1.	Foreign Investment (a+b)			132581	117040	15541	77298	61770	15528
		a)	Foreign Direct Investment (i+ii)		22959	14480	8479	9178	6144	3034
			i.	In India	22078	87	21991	8962	61	8901
				Equity	16481	87	16394	5976	61	5915
				Reinvested Earnings	5091	_	5091	2760	_	2760
				Other Capital	506	_	506	226	_	226
			ii.	Abroad	881	14393	-13512	216	6083	-5867
				Equity	881	12168	-11287	216	3982	-3766
				Reinvested Earnings	_	1076	-1076	_	1092	-1092
				Other Capital	_	1149	-1149	_	1009	-1009
		b)	Portfolio Investment		109622	102560	7062	68120	55626	12494
			In India		109534	102530	7004	68120	55626	12494
			Abroad		88	30	58	_	_	_
	2.	Loans (a+b+c)			54728	30194	24534	39479	31570	7909
		a)	External Assistance		3763	1996	1767	3631	1929	1702
			i)	By India	16	36	-20	24	88	-64
			ii)	To India	3747	1960	1787	3607	1841	1766
		b)	Commercial Borrowings (MT & LT)		20973	4818	16155	14343	11835	2508
			i)	By India	648	950	-302	_	251	-251
			ii)	To India	20325	3868	16457	14343	11584	2759
		c)	Short Term to India		29992	23380	6612	21505	17806	3699
			i)	Suppliers’ Credit >180 days & Buyers’ Credit	25482	22175	3307	19372	17647	1725
			ii)	Suppliers’ Credit up to 180 days	4510	1205	3305	2133	159	1974
	3.	Banking Capital (a+b)			37209	35296	1913	21658	20285	1373
		a)	Commercial Banks		36799	35218	1581	20586	20144	442
			i)	Assets	14466	17960	-3494	772	3947	-3175
			ii)	Liabilities	22333	17258	5075	19814	16197	3617
				of which: Non-Resident Deposits	19914	15593	4321	17835	15046	2789
		b)	Others		410	78	332	1072	141	931
	4.	Rupee Debt Service			_	162	-162	_	572	-572
	5.	Other Capital			7724	3771	3953	5941	4709	1232
	Total Capital Account (1to5)				232242	186463	45779	144376	118906	25470
C.	Errors & Omissions				593	_	593	-	516	-516
D.	Overall Balance				475992	439386	36606	339215	324163	15052
	(Total Capital Account, Current Account
	and Errors & Omissions (A+B+C))
E.	Monetary Movements (i+ii)				_	36606	-36606	_	15052	-15052
	i) I.M.F.				_	_	_	_	_	_
	ii) Foreign Exchange Reserves ( Increase - / Decrease +)				_	36606	-36606	_	15052	-15052
P: Preliminary PR : Partially Revised. R. : Revised

(US $ million)
Items					Apr.-Jun. 2007 PR			Jul.-Sep. 2007 P
Items					Credit	Debit	Net	Credit	Debit	Net
1					8	9	10	11	12	13
A.	CURRENT ACCOUNT
	I.	Merchandise			35790	56480	-20690	37875	59586	-21711
	II.	Invisibles (a+b+c)			29379	13886	15493	32213	16018	16195
		a)	Services		18008	9979	8029	17858	11198	6660
			i)	Travel	2088	1881	207	2248	2079	169
			ii)	Transportation	2053	2692	-639	2227	2902	-675
			iii)	Insurance	416	184	232	372	291	81
			iv)	G.n.i.e.	96	112	-16	71	133	-62
			v)	Miscellaneous of which	13355	5110	8245	12940	5793	7147
				Software Services	8441	557	7884	7876	663	7213
				Business Services	3106	3027	79	3274	3168	106
				Financial Services	757	735	22	753	746	7
				Communication Services	439	140	299	457	141	316
		b)	Transfers		8760	433	8327	10535	419	10116
			i)	Official	153	166	-13	150	114	36
			ii)	Private	8607	267	8340	10385	305	10080
		c)	Income		2611	3474	-863	3820	4401	-581
			i)	Investment Income	2475	3276	-801	3667	4107	-440
			ii)	Compensation of Employees	136	198	-62	153	294	-141
Total Current Account (I+II)					65169	70366	-5197	70088	75604	-5516
B.	CAPITAL ACCOUNT
	1.	Foreign Investment (a+b)			41517	32321	9196	53062	40044	13018
		a)	Foreign Direct Investment (i+ii)		6837	5099	1738	4381	2239	2142
			i.	In India	6307	21	6286	3585	19	3566
				Equity	5168	21	5147	2416	19	2397
				Reinvested Earnings	1027	_	1027	1027	_	1027
				Other Capital	112	_	112	142	_	142
			ii.	Abroad	530	5078	-4548	796	2220	-1424
				Equity	530	4381	-3851	796	1664	-868
				Reinvested Earnings	_	271	-271	_	271	-271
				Other Capital	_	426	-426	_	285	-285
		b)	Portfolio Investment		34680	27222	7458	48681	37805	10876
			In India		34621	27216	7405	48675	37781	10894
			Abroad		59	6	53	6	24	-18
	2.	Loans (a+b+c)			16985	7593	9392	18078	10473	7605
		a)	External Assistance		772	496	276	975	522	453
			i)	By India	5	13	-8	5	13	-8
			ii)	To India	767	483	284	970	509	461
		b)	Commercial Borrowings (MT & LT)		8296	1333	6963	5703	2109	3594
			i)	By India	355	290	65	350	503	-153
			ii)	To India	7941	1043	6898	5353	1606	3747
		c)	Short Term to India		7917	5764	2153	11400	7842	3558
			i)	Suppliers’ Credit >180 days & Buyers’ Credit	6883	5764	1119	10528	7842	2686
			ii)	Suppliers’ Credit up to 180 days	1034	_	1034	872	-	872
	3.	Banking Capital (a+b)			8099	9018	-919	12217	6035	6182
		a)	Commercial Banks		8099	9012	-913	12193	6002	6191
			i)	Assets	2543	2861	-318	4104	358	3746
			ii)	Liabilities	5556	6151	-595	8089	5644	2445
				of which : Non-Resident Deposits	4791	5238	-447	5977	5608	369
		b)	Others		_	6	-6	24	33	-9
	4.	Rupee Debt Service			_	43	-43	_	1	-1
	5.	Other Capital			1367	2487	-1120	10343	3245	7098
	Total Capital Account (1to5)				67968	51462	16506	93700	59798	33902
C.	Errors & Omissions				-	109	-109	850	_	850
D.	Overall Balance				133137	121937	11200	164638	135402	29236
	(Total Capital Account, Current Account
	and Errors & Omissions (A+B+C))
E.	Monetary Movements (i+ii)				_	11200	-11200	_	29236	-29236
	i) I.M.F.				_	_	_	_	_	_
	ii) Foreign Exchange Reserves ( Increase - / Decrease +)				_	11200	-11200	_	29236	-29236
P: Preliminary PR : Partially Revised. R. : Revised

(US $ million)
Items						Apr.-Sep. 2007 P			Apr.-Sep. 2006 PR
Items						Credit	Debit	Net	Credit	Debit	Net
1						14	15	16	17	18	19
A.	CURRENT ACCOUNT
	I.	Merchandise				73665	116066	-42401	61450	95224	-33774
	II.	Invisibles (a+b+c)				61592	29904	31688	49899	26465	23434
		a) Services				35866	21177	14689	33022	18525	14497
			i)		Travel	4336	3960	376	3504	3300	204
			ii)		Transportation	4280	5594	-1314	3725	3975	-250
			iii)		Insurance	788	475	313	553	283	270
			iv)		G.n.i.e.	167	245	-78	101	201	-100
			v)		Miscellaneous of which	26295	10903	15392	25139	10766	14373
					Software Services	16317	1220	15097	14160	820	13340
					Business Services	6380	6195	185	7954	5902	2052
					Financial Services	1510	1481	29	935	628	307
					Communication Services	896	281	615	1056	269	787
		b)	Transfers			19295	852	18443	12923	665	12258
			i)	Official		303	280	23	190	197	-7
			ii)	Private		18992	572	18420	12733	468	12265
		c)	Income			6431	7875	-1444	3954	7275	-3321
			i)	Investment Income		6142	7383	-1241	3816	6851	-3035
			ii)	Compensation of Employees		289	492	-203	138	424	-286
Total Current Account (I+II)						135257	145970	-10713	111349	121689	-10340
B.	CAPITAL ACCOUNT
	1.	Foreign Investment (a+b)				94579	72365	22214	56324	50189	6135
		a)	Foreign Direct Investment (i+ii)			11218	7338	3880	7562	3071	4491
			i.	In India		9892	40	9852	7264	10	7254
				Equity		7584	40	7544	4832	10	4822
				Reinvested Earnings		2054	_	2054	2361	_	2361
				Other Capital		254	_	254	71	_	71
			ii.	Abroad		1326	7298	-5972	298	3061	-2763
				Equity		1326	6045	-4719	298	2128	-1830
				Reinvested Earnings		_	542	-542	_	538	-538
				Other Capital		_	711	-711	_	395	-395
		b)	Portfolio Investment			83361	65027	18334	48762	47118	1644
				In India		83296	64997	18299	48730	47116	1614
				Abroad		65	30	35	32	2	30
	2.	Loans (a+b+c)				35063	18066	16997	22726	12740	9986
		a)	External Assistance			1747	1018	729	1363	977	386
			i)	By India		10	26	-16	8	18	-10
			ii)	To India		1737	992	745	1355	959	396
		b)	Commercial Borrowings (MT & LT)			13999	3442	10557	7732	1997	5735
			i)	By India		705	793	-88	201	393	-192
			ii)	To India		13294	2649	10645	7531	1604	5927
		c)	Short Term to India			19317	13606	5711	13631	9766	3865
			i)	Suppliers’ Credit >180 days & Buyers’ Credit		17411	13606	3805	11661	9766	1895
			ii)	Suppliers’ Credit up to 180 days		1906	_	1906	1970	_	1970
	3.	Banking Capital (a+b)				20316	15053	5263	15663	12320	3343
		a)	Commercial Banks			20292	15014	5278	15591	12276	3315
			i)	Assets		6647	3219	3428	6825	5430	1395
			ii)	Liabilities		13645	11795	1850	8766	6846	1920
				of which : Non-Resident Deposits		10768	10846	-78	8431	6221	2210
		b)	Others			24	39	-15	72	44	28
	4.	Rupee Debt Service				_	44	-44	_	67	-67
	5.	Other Capital				11710	5732	5978	1319	1560	-241
	Total Capital Account (1to5)					161668	111260	50408	96032	76876	19156
C.	Errors & Omissions					741	_	741	_	167	-167
D.	Overall Balance					297666	257230	40436	207381	198732	8649
	(Total Capital Account, Current Account and Errors & Omissions (A+B+C))
E.	Monetary Movements (i+ii)					_	40436	-40436	_	8649	-8649
	i) I.M.F.					_	_	_	_	_	_
	ii) Foreign Exchange Reserves ( Increase - / Decrease +)					_	40436	-40436	_	8649	-8649
P: Preliminary PR : Partially Revised. R. : Revised

(US $ million)
Items					Apr.-Jun. 2006 PR			Jul.-Sep. 2006 PR
Items					Credit	Debit	Net	Credit	Debit	Net
1					20	21	22	23	24	25
A.	CURRENT ACCOUNT
	I.	Merchandise			29614	46631	-17017	31836	48593	-16757
	II.	Invisibles (a+b+c)			24946	11994	12952	24953	14471	10482
		a)	Services		16054	8475	7579	16968	10050	6918
			i)	Travel	1708	1488	220	1796	1812	-16
			ii)	Transportation	1715	1997	-282	2010	1978	32
			iii)	Insurance	238	129	109	315	154	161
			iv)	G.n.i.e.	40	79	-39	61	122	-61
			v)	Miscellaneous of which	12353	4782	7571	12786	5984	6802
				Software Services	7039	415	6624	7121	405	6716
				Business Services	3859	2622	1237	4095	3280	815
				Financial Services	592	301	291	343	327	16
				Communication Services	410	102	308	646	167	479
		b)	Transfers		7170	297	6873	5753	368	5385
			i)	Official	69	90	-21	121	107	14
			ii)	Private	7101	207	6894	5632	261	5371
		c)	Income		1722	3222	-1500	2232	4053	-1821
			i)	Investment Income	1659	3026	-1367	2157	3825	-1668
			ii)	Compensation of Employees	63	196	-133	75	228	-153
Total Current Account (I+II)					54560	58625	-4065	56789	63064	-6275
B.	CAPITAL ACCOUNT
	1.	Foreign Investment (a+b)			33838	32765	1073	22486	17424	5062
		a)	Foreign Direct Investment (i+ii)		3016	1437	1579	4546	1634	2912
			i.	In India	2952	8	2944	4312	2	4310
				Equity	1946	8	1938	2886	2	2884
				Reinvested Earnings	996	_	996	1365	_	1365
				Other Capital	10	_	10	61	_	61
			ii.	Abroad	64	1429	-1365	234	1632	-1398
				Equity	64	931	-867	234	1197	-963
				Reinvested Earnings	_	269	-269	_	269	-269
				Other Capital	_	229	-229	_	166	-166
		b)	Portfolio Investment		30822	31328	-506	17940	15790	2150
				In India	30801	31327	-526	17929	15789	2140
				Abroad	21	1	20	11	1	10
	2.	Loans (a+b+c)			11499	6294	5205	11227	6446	4781
		a)	External Assistance		576	527	49	787	450	337
			i)	By India	4	9	-5	4	9	-5
			ii)	To India	572	518	54	783	441	342
		b)	Commercial Borrowings (MT & LT)		5052	1078	3974	2680	919	1761
			i)	By India	87	223	-136	114	170	-56
			ii)	To India	4965	855	4110	2566	749	1817
		c)	Short Term to India		5871	4689	1182	7760	5077	2683
			i)	Suppliers’ Credit >180 days & Buyers’ Credit	5082	4689	393	6579	5077	1502
			ii)	Suppliers’ Credit up to 180 days	789	_	789	1181	_	1181
	3.	Banking Capital (a+b)			9909	4848	5061	5754	7472	-1718
		a)	Commercial Banks		9837	4848	4989	5754	7428	-1674
			i)	Assets	5257	1877	3380	1568	3553	-1985
			ii)	Liabilities	4580	2971	1609	4186	3875	311
				of which : Non-Resident Deposits	4246	2944	1302	4185	3277	908
		b)	Others		72	_	72	_	44	-44
	4.	Rupee Debt Service			_	67	-67	_	_	_
	5.	Other Capital			109	1005	-896	1210	555	655
	Total Capital Account (1to5)				55355	44979	10376	40677	31897	8780
C.	Errors & Omissions				68	_	68	_	235	-235
D.	Overall Balance				109983	103604	6379	97466	95196	2270
	(Total Capital Account, Current Account and Errors & Omissions (A+B+C))
E.	Monetary Movements (i+ii)				_	6379	-6379	_	2270	-2270
	i) I.M.F.				_	_	_	_	_	_
	ii) Foreign Exchange Reserves ( Increase - / Decrease +)				_	6379	-6379	_	2270	-2270
P: Preliminary PR : Partially Revised. R. : Revised

(US $ million)
Items					Oct.-Dec. 2006 PR			Jan.-Mar. 2007 PR
Items					Credit	Debit	Net	Credit	Debit	Net
1					26	27	28	29	30	31
A.	CURRENT ACCOUNT
	I.	Merchandise			30933	47460	-16527	35700	48570	-12870
	II.	Invisibles (a+b+c)			29460	16611	12849	35715	18593	17122
		a)	Services		19357	12123	7234	23802	13723	10079
			i)	Travel	2621	1638	983	2998	1747	1251
			ii)	Transportation	2104	2102	2	2221	1991	230
			iii)	Insurance	293	201	92	356	158	198
			iv)	G.n.i.e.	87	97	-10	62	105	-43
			v)	Miscellaneous of which	14252	8085	6167	18165	9722	8443
				Software Services	7602	684	6918	9538	763	8775
				Business Services	5220	4492	728	6092	6699	-607
				Financial Services	520	275	245	1458	1184	274
				Communication Services	482	239	243	561	151	410
		b)	Transfers		7788	341	7447	8878	415	8463
			i)	Official	287	97	190	161	117	44
			ii)	Private	7501	244	7257	8717	298	8419
		c)	Income		2315	4147	-1832	3035	4455	-1420
			i)	Investment Income	2213	3912	-1699	2879	4163	-1284
			ii)	Compensation of Employees	102	235	-133	156	292	-136
Total Current Account (I+II)					60393	64071	-3678	71415	67163	4252
B.	CAPITAL ACCOUNT
	1.	Foreign Investment (a+b)			38529	31871	6658	37728	34980	2748
		a)	Foreign Direct Investment (i+ii)		9891	6802	3089	5506	4607	899
			i.	In India	9730	7	9723	5084	70	5014
				Equity	8203	7	8196	3446	70	3376
				Reinvested Earnings	1365	_	1365	1365	_	1365
				Other Capital	162	_	162	273	_	273
			ii.	Abroad	161	6795	-6634	422	4537	-4115
				Equity	161	6172	-6011	422	3868	-3446
				Reinvested Earnings	_	269	-269	_	269	-269
				Other Capital	_	354	-354	_	400	-400
		b)	Portfolio Investment		28638	25069	3569	32222	30373	1849
			In India		28625	25063	3562	32179	30351	1828
			Abroad		13	6	7	43	22	21
	2.	Loans (a+b+c)			14771	8264	6507	17231	9190	8041
		a)	External Assistance		1112	495	617	1288	524	764
			i)	By India	4	9	-5	4	9	-5
			ii)	To India	1108	486	622	1284	515	769
		b)	Commercial Borrowings (MT & LT)		5459	1382	4077	7782	1439	6343
			i)	By India	447	345	102	_	212	-212
			ii)	To India	5012	1037	3975	7782	1227	6555
		c)	Short Term to India		8200	6387	1813	8161	7227	934
			i)	Suppliers’ Credit >180 days & Buyers’ Credit	5660	6387	-727	8161	6022	2139
			ii)	Suppliers’ Credit up to 180 days	2540	_	2540	_	1205	-1205
	3.	Banking Capital (a+b)			7160	10273	-3113	14386	12703	1683
		a)	Commercial Banks		6944	10239	-3295	14264	12703	1561
			i)	Assets	556	4530	-3974	7085	8000	-915
			ii)	Liabilities	6388	5709	679	7179	4703	2476
				of which : Non-Resident Deposits	6325	4862	1463	5158	4510	648
		b)	Others		216	34	182	122	-	122
	4.	Rupee Debt Service			_	2	-2	_	93	-93
	5.	Other Capital			1725	792	933	4680	1419	3261
	Total Capital Account (1to5)				62185	51202	10983	74025	58385	15640
C.	Errors & Omissions				200	_	200	560	_	560
D.	Overall Balance				122778	115273	7505	146000	125548	20452
	(Total Capital Account, Current Account and Errors & Omissions (A+B+C))
E.	Monetary Movements (i+ii)				_	7505	-7505	_	20452	-20452
	i)	I.M.F.			_	_	_	_	_	_
	ii) Foreign Exchange Reserves ( Increase - / Decrease +)				_	7505	-7505	_	20452	-20452
P: Preliminary PR : Partially Revised. R. : Revised

(US $ million)
Items					Apr.-Jun. 2005 R			Jul.-Sep. 2005 R
Items					Credit	Debit	Net	Credit	Debit	Net
1					32	33	34	35	36	37
A.	CURRENT ACCOUNT
	I.	Merchandise			23998	37962	-13964	24995	38419	-13424
	II.	Invisibles (a+b+c)			18984	9814	9170	19105	10365	8740
		a)	Services		11538	7406	4132	12577	7252	5325
			i)	Travel	1435	1419	16	1594	1512	82
			ii)	Transportation	1533	2094	-561	1398	1881	-483
			iii)	Insurance	221	247	-26	358	132	226
			iv)	G.n.i.e.	71	101	-30	53	130	-77
			v)	Miscellaneous of which	8278	3545	4733	9174	3597	5577
				Software Services	5103	201	4902	5218	-	5218
				Business Services	1638	1260	378	1702	1475	227
				Financial Services	179	239	-60	420	263	157
				Communication Services	162	63	99	393	48	345
	b)	Transfers			6097	191	5906	5194	201	4993
			i)	Official	118	101	17	103	101	2
			ii)	Private	5979	90	5889	5091	100	4991
	c)	Income			1349	2217	-868	1334	2912	-1578
			i)	Investment Income	1311	2057	-746	1304	2757	-1453
			ii)	Compensation of Employees	38	160	-122	30	155	-125
	Total Current Account (I+II)				42982	47776	-4794	44100	48784	-4684
B.	CAPITAL ACCOUNT
	1.	Foreign Investment (a+b)			13271	10949	2322	18304	12787	5517
		a)	Foreign Direct Investment (i+ii)		2142	792	1350	1890	814	1076
			i.	In India	2070	12	2058	1853	7	1846
				Equity	1295	12	1283	1114	7	1107
				Reinvested Earnings	690	_	690	690	_	690
				Other Capital	85	_	85	49	_	49
			ii.	Abroad	72	780	-708	37	807	-770
				Equity	72	320	-248	37	482	-445
				Reinvested Earnings	_	273	-273	_	273	-273
				Other Capital	_	187	-187	_	52	-52
		b)	Portfolio Investment		11129	10157	972	16414	11973	4441
			In India		11129	10157	972	16414	11973	4441
			Abroad		_	_	_	_	_	_
	2.	Loans (a+b+c)			7950	6006	1944	11370	7028	4342
		a)	External Assistance		707	490	217	645	443	202
			i)	By India	6	22	-16	6	22	-16
			ii)	To India	701	468	233	639	421	218
		b)	Commercial Borrowings (MT & LT)		1988	835	1153	4527	2685	1842
			i)	By India	_	28	-28	_	101	-101
			ii)	To India	1988	807	1181	4527	2584	1943
		c)	Short Term to India		5255	4681	574	6198	3900	2298
			i)	Suppliers’ Credit >180 days & Buyers’ Credit	4503	4681	-178	5056	3900	1156
			ii)	Suppliers’ Credit up to 180 days	752	_	752	1142	_	1142
	3.	Banking Capital (a+b)			4084	3302	782	5450	3454	1996
		a)	Commercial Banks		3906	3240	666	5320	3429	1891
			i)	Assets	471	62	409	299	34	265
			ii)	Liabilities	3435	3178	257	5021	3395	1626
				of which : Non-Resident Deposits	2759	2867	-108	3734	3393	341
		b)	Others		178	62	116	130	25	105
	4.	Rupee Debt Service			_	142	-142	_	_	_
	5.	Other Capital			1112	245	867	660	1972	-1312
	Total Capital Account (1to5)				26417	20644	5773	35784	25241	10543
C.	Errors & Omissions				268	_	268	_	603	-603
D.	Overall Balance				69667	68420	1247	79884	74628	5256
	(Total Capital Account, Current Account and Errors & Omissions (A+B+C))
E.	Monetary Movements (i+ii)				_	1247	-1247	_	5256	-5256
	i) I.M.F.				_	_	_	_	_	_
	ii) Foreign Exchange Reserves ( Increase - / Decrease +)				_	1247	-1247	_	5256	-5256
P: Preliminary PR : Partially Revised. R. : Revised

(US $ million)
Items					Oct.-Dec. 2005 R			Jan.-Mar. 2006 R
Items					Credit	Debit	Net	Credit	Debit	Net
1					38	39	40	41	42	43
A.	CURRENT ACCOUNT
	I.	Merchandise			25579	38318	-12739	30580	42357	-11777
	II.	Invisibles (a+b+c)			23157	15331	7826	28441	12175	16266
		a)	Services		14723	10319	4404	18821	9512	9309
			i)	Travel	2315	1799	516	2509	1908	601
			ii)	Transportation	1613	2118	-505	1781	2244	-463
			iii)	Insurance	211	387	-176	272	350	-78
			iv)	G.n.i.e.	104	122	-18	86	176	-90
			v)	Miscellaneous of which	10480	5893	4587	14173	4834	9339
				Software Services	6254	362	5892	7025	295	6730
				Business Services	2850	2316	534	3117	2697	420
				Financial Services	306	181	125	304	282	22
				Communication Services	480	99	381	540	79	461
	b)	Transfers			6663	225	6438	7666	316	7350
			i)	Official	155	102	53	293	171	122
			ii)	Private	6508	123	6385	7373	145	7228
	c)	Income			1771	4787	-3016	1954	2347	-393
			i)	Investment Income	1735	4529	-2794	1879	2148	-269
			ii)	Compensation of Employees	36	258	-222	75	199	-124
	Total Current Account (I+II)				48736	53649	-4913	59021	54532	4489
B.	CAPITAL ACCOUNT
	1.	Foreign Investment (a+b)			19286	15170	4116	26437	22864	3573
		a)	Foreign Direct Investment (i+ii)		2437	1069	1368	2709	3469	-760
			i.	In India	2346	34	2312	2693	8	2685
				Equity	1609	34	1575	1958	8	1950
				Reinvested Earnings	690	_	690	690	_	690
				Other Capital	47	_	47	45	_	45
			ii.	Abroad	91	1035	-944	16	3461	-3445
				Equity	91	572	-481	16	2608	-2592
				Reinvested Earnings	_	273	-273	_	273	-273
				Other Capital	_	190	-190	_	580	-580
		b)	Portfolio Investment		16849	14101	2748	23728	19395	4333
			In India		16849	14101	2748	23728	19395	4333
			Abroad		_	_	_	_	_	_
	2.	Loans (a+b+c)			8807	11411	-2604	11352	7125	4227
		a)	External Assistance		1143	457	686	1136	539	597
			i)	By India	6	22	-16	6	22	-16
			ii)	To India	1137	435	702	1130	517	613
		b)	Commercial Borrowings (MT & LT)		2711	6843	-4132	5117	1472	3645
			i)	By India	-	12	-12	-	110	-110
			ii)	To India	2711	6831	-4120	5117	1362	3755
		c)	Short Term to India		4953	4111	842	5099	5114	-15
			i)	Suppliers’ Credit >180 days & Buyers’ Credit	4714	4111	603	5099	4955	144
			ii)	Suppliers’ Credit up to 180 days	239	_	239	_	159	-159
	3.	Banking Capital (a+b)			5393	6371	-978	6731	7158	-427
		a)	Commercial Banks		4872	6317	-1445	6488	7158	-670
			i)	Assets	2	1941	-1939	-	1910	-1910
			ii) Liabilities		4870	4376	494	6488	5248	1240
			of which : Non-Resident Deposits		4865	3984	881	6477	4802	1675
		b)	Others		521	54	467	243	_	243
	4.	Rupee Debt Service			_	285	-285	_	145	-145
	5.	Other Capital			2086	1555	531	2083	937	1146
	Total Capital Account (1to5)				35572	34792	780	46603	38229	8374
C.	Errors & Omissions				_	539	-539	358	_	358
D.	Overall Balance				84308	88980	-4672	105982	92761	13221
	(Total Capital Account, Current Account and Errors & Omissions (A+B+C))
E.	Monetary Movements (i+ii)				4672	_	4672	_	13221	-13221
	i) I.M.F.				_	_	_	_	_	_
	ii) Foreign Exchange Reserves ( Increase - / Decrease +)				4672	_	4672	_	13221	-13221
P: Preliminary PR : Partially Revised. R. : Revised