Statement 2: India's Overall Balance of Payments in Dollars

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Published on March 31, 2004

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Statement 2: India's Overall Balance of Payments in Dollars

( US $ million )

	2002-03PR			2001-02PR			2000-01 PR			Apr-Dec 2003 PR

Item	Credit	Debit	Net	Credit	Debit	Net	Credit	Debit	Net	Credit	Debit	Net
1	2	3	4	5	6	7	8	9	10	11	12	13

A.CURRENT ACCOUNT
I. MERCHANDISE	52512	65422	-12910	44915	57618	-12703	44894	59264	-14370	43237	58233	-14996

II.INVISIBLES (a+b+c)	43373	26326	17047	36690	23205	13485	34786	24006	10780	36331	18109	18222

a) Services	24963	18198	6765	20665	16088	4577	18870	16392	2478	18891	10077	8814

i) Travel	3029	3467	-438	2910	2282	628	3168	2874	294	2665	1767	898
ii) Transportation	2524	2547	-23	1969	2382	-413	1913	3170	-1257	2297	1709	588
iii) Insurance	368	314	54	267	254	13	257	122	135	296	291	5
iv) G.n.i.e.	307	228	79	469	272	197	657	341	316	193	161	32
v) Miscellaneous	18735	11642	7093	15050	10898	4152	12875	9885	2990	13440	6149	7291
of which : Software Services	9600	737	8863	7556	672	6884	6341	591	5750	9461	374	9087

b) Transfers	15584	367	15217	12577	68	12509	13211	77	13134	14782	179	14603

i) Official	410	-	410	385	1	384	338	2	336	109	-	109
ii) Private	15174	367	14807	12192	67	12125	12873	75	12798	14673	179	14494

c) Income	2826	7761	-4935	3448	7049	-3601	2705	7537	-4832	2658	7853	-5195
i) Investment Income	2732	7742	-5010	3362	7037	-3675	2598	7527	-4929	2574	7828	-5254
ii) Compensation of Employees	94	19	75	86	12	74	107	10	97	84	25	59


Total Current Account	95885	91748	4137	81605	80823	782	79680	83270	-3590	79568	76342	3226
(I+II)

B. CAPITAL ACCOUNT
1. Foreign Investment	12325	7770	4555	14450	7758	6692	15981	10119	5862	20697	10563	10134
(a+b)
a) Foreign Direct Investment (i+ii)	4790	1179	3611	6235	1494	4741	4121	849	3272	3355	842	2513

i. In India	4717	57	4660	6136	5	6131	4051	22	4029	3221	2	3219
Equity	2757	57	2700	4100	5	4095	2422	22	2400	1646	2	1644
Reinvested Earnings	1498	-	1498	1646	-	1646	1350	-	1350	1179	-	1179
Other Capital	462	-	462	390	-	390	279	-	279	396	-	396

ii. Abroad	73	1122	-1049	99	1489	-1390	70	827	-757	134	840	-706
Equity	73	497	-424	99	669	-570	70	414	-344	134	324	-190
Reinvested Earnings	-	519	-519	-	699	-699	-	339	-339	-	456	-456
Other Capital	-	106	-106	-	121	-121	-	74	-74	-	60	-60


b) Portfolio Investment	7535	6591	944	8215	6264	1951	11860	9270	2590	17342	9721	7621
In India	7535	6556	979	8215	6195	2020	11860	9100	2760	17342	9699	7643
Abroad	-	35	-35	-	69	-69	-	170	-170	-	22	-22

2.Loans	13795	17620	-3825	11512	12862	-1350	22797	18545	4252	13374	16559	-3185
(a+b+c)
a) External Assistance	2773	5233	-2460	3352	2235	1117	2942	2532	410	1877	3691	-1814
i) By India	-	32	-32	-	87	-87	-	17	-17	-	6	-6
ii) To India	2773	5201	-2428	3352	2148	1204	2942	2515	427	1877	3685	-1808

b) Commercial Borrowings	2833	5177	-2344	2696	4272	-1576	9052	5315	3737	3000	6732	-3732
(MT & LT)
i) By India	9	-	9	3	-	3	7	2	5	3	-	3
ii) To India	2824	5177	-2353	2693	4272	-1579	9045	5313	3732	2997	6732	-3735

c) Short Term
To India	8189	7210	979	5464	6355	-891	10803	10698	105	8497	6136	2361

3. Banking Capital	17969	9557	8412	17526	11934	5592	12772	11961	811	18028	12410	5618
(a+b)
a) Commercial Banks	17433	9311	8122	17041	11656	5385	12452	11567	885	17817	11756	6061
i) Assets	6853	1990	4863	5051	2789	2262	3009	4477	-1468	3411	2942	469
ii) Liabilities	10580	7321	3259	11990	8867	3123	9443	7090	2353	14406	8814	5592
of which : Non- Resident Deposits	10087	7111	2976	11435	8681	2754	8989	6672	2317	12066	8564	3502
b) Others	536	246	290	485	278	207	320	394	-74	211	654	-443

4. Rupee Debt Service	-	474	-474	-	519	-519	-	617	-617	-	304	-304

5. Other Capital	6054	2609	3445	3620	3462	158	3992	4282	-290	6780	1732	5048

Total Capital Account	50143	38030	12113	47108	36535	10573	55542	45524	10018	58879	41568	17311
(1 to 5)

C. Errors & Omissions	730	-	730	402	-	402	-	572	-572	251	-	251

D. Overall Balance	146758	129778	16980	129115	117358	11757	135222	129366	5856	138698	117910	20788
(Total Capital Account,
Current Account and
Errors & Omissions (A+B+C))

E. Monetary Movements	-	16980	-16980	-	11757	-11757	-	5856	-5856	-	20788	-20788
(i+ii)
i) I.M.F.	-	-	-	-	-	-	-	26	-26	-	-	-
ii) Foreign Exchange Reserves	-	16980	-16980	-	11757	-11757	-	5830	-5830	-	20788	-20788
( Increase - / Decrease +)
PR: Partially Revised

(US $ million)

	Jan-Mar 2003 PR			Apr-Jun 2003PR			Jul-Sep 2003PR			Oct-Dec 2003

Item	Credit	Debit	Net	Credit	Debit	Net	Credit	Debit	Net	Credit	Debit	Net
1	14	15	16	17	18	19	20	21	22	23	24	25

A.CURRENT ACCOUNT
I. MERCHANDISE	14075	17222	-3147	13411	18636	-5225	14563	18719	-4156	15263	20878	-5615

II.INVISIBLES (a+b+c)	11245	6883	4362	10401	5406	4995	12411	6618	5793	13519	6085	7434

a) Services	6407	4732	1675	5176	3114	2062	6261	4073	2188	7454	2890	4564

i) Travel	868	1076	-208	729	507	222	893	670	223	1043	590	453
ii) Transportation	590	546	44	682	549	133	787	567	220	828	593	235
iii) Insurance	99	91	8	88	101	-13	104	116	-12	104	74	30
iv) G.n.i.e.	60	38	22	71	64	7	67	43	24	55	54	1
v) Miscellaneous	4790	2981	1809	3606	1893	1713	4410	2677	1733	5424	1579	3845
of which : Software Services	2622	191	2431	2862	176	2686	3001	76	2925	3598	122	3476

b) Transfers	4122	164	3958	4395	119	4276	5103	36	5067	5284	24	5260

i) Official	154	-	154	29	-	29	43	-	43	37	-	37
ii) Private	3968	164	3804	4366	119	4247	5060	36	5024	5247	24	5223

c) Income	716	1987	-1271	830	2173	-1343	1047	2509	-1462	781	3171	-2390
i) Investment Income	692	1980	-1288	809	2166	-1357	1008	2499	-1491	757	3163	-2406
ii) Compensation of Employees	24	7	17	21	7	14	39	10	29	24	8	16


Total Current Account	25320	24105	1215	23812	24042	-230	26974	25337	1637	28782	26963	1819
(I+II)

B. CAPITAL ACCOUNT
1. Foreign Investment	3468	2032	1436	4742	2642	2100	6479	3469	3010	9476	4452	5024
(a+b)
a) Foreign Direct Investment (i+ii)	1101	258	843	960	236	724	1222	347	875	1173	259	914

i. In India	1095	45	1050	894	-	894	1183	1	1182	1144	1	1143
Equity	609	45	564	387	-	387	679	1	678	580	1	579
Reinvested Earnings	375	-	375	393	-	393	393	-	393	393	-	393
Other Capital	111	-	111	114	-	114	111	-	111	171	-	171

ii. Abroad	6	213	-207	66	236	-170	39	346	-307	29	258	-229
Equity	6	63	-57	66	64	2	39	174	-135	29	86	-57
Reinvested Earnings	-	130	-130	-	152	-152	-	152	-152	-	152	-152
Other Capital	-	20	-20	-	20	-20	-	20	-20	-	20	-20


b) Portfolio Investment	2367	1774	593	3782	2406	1376	5257	3122	2135	8303	4193	4110
In India	2367	1774	593	3782	2384	1398	5257	3122	2135	8303	4193	4110
Abroad	-	-	-	-	22	-22	-	-	-	-	-	-

2.Loans	4395	6701	-2306	4448	3658	790	4418	3500	918	4508	9401	-4893
(a+b+c)
a) External Assistance	868	3447	-2579	462	793	-331	590	459	131	825	2439	-1614
i) By India	-	1	-1	-	5	-5	-	1	-1	-	-	-
ii) To India	868	3446	-2578	462	788	-326	590	458	132	825	2439	-1614

b) Commercial Borrowings	1001	1325	-324	902	688	214	1013	1359	-346	1085	4685	-3600
(MT & LT)
i) By India	-	-	-	-	-	-	3	-	3	-	-	-
ii) To India	1001	1325	-324	902	688	214	1010	1359	-349	1085	4685	-3600

c) Short Term
To India	2526	1929	597	3084	2177	907	2815	1682	1133	2598	2277	321

3. Banking Capital	3495	1875	1620	5460	3527	1933	4387	4087	300	8181	4796	3385
(a+b)
a) Commercial Banks	3484	1875	1609	5249	3254	1995	4387	3803	584	8181	4699	3482
i) Assets	1161	154	1007	600	497	103	1198	1762	-564	1613	683	930
ii) Liabilities	2323	1721	602	4649	2757	1892	3189	2041	1148	6568	4016	2552
of which : Non-Resident Deposits	2270	1663	607	4290	2529	1761	2453	2024	429	5323	4011	1312
b) Others	11	-	11	211	273	-62	-	284	-284	-	97	-97

4. Rupee Debt Service	-	116	-116	-	301	-301	-	2	-2	-	1	-1

5. Other Capital	1659	679	980	1363	536	827	2398	524	1874	3019	672	2347

Total Capital Account	13017	11403	1614	16013	10664	5349	17682	11582	6100	25184	19322	5862
(1 to 5)

C. Errors & Omissions	1482	-	1482	54	-	54	647	-	647	-	450	-450

D. Overall Balance	39819	35508	4311	39879	34706	5173	45303	36919	8384	53966	46735	7231
(Total Capital Account,
Current Account and
Errors & Omissions (A+B+C))

E. Monetary Movements	-	4311	-4311	-	5173	-5173	-	8384	-8384	-	7231	-7231
(i+ii)
i) I.M.F.	-	-	-	-	-	-	-	-	-	-	-	-
ii) Foreign Exchange Reserves	-	4311	-4311	-	5173	-5173	-	8384	-8384	-	7231	-7231
( Increase - / Decrease +)
PR: Partially Revised