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40. India's Overall Balance of Payments

Date : Jul 10, 2012

Item		2008-09 (R)			2009-10 (PR)
(` Billion)
		Credit	Debit	Net	Credit	Debit	Net
		1	2	3	4	5	6
A.	CURRENT ACCOUNT
	I. MERCHANDISE	8,580	14,054	-5,474	8,633	14,232	-5,600
	II. INVISIBLES (a+b+c)	7,704	3,506	4,198	7,746	3,944	3,803
	a) Services	4,880	2,396	2,484	4,533	2,834	1,700
	i) Travel	502	433	69	560	442	118
	ii) Transportation	521	585	-65	529	564	-35
	iii) Insurance	65	52	13	76	61	15
	iv) G.n.i.e.	18	38	-20	21	25	-4
	v) Miscellaneous	3,774	1,287	2,487	3,347	1,742	1,605
	of which:
	Software Services	2,122	116	2,006	2,352	70	2,282
	Business Services	855	709	146	538	853	-316
	Financial Services	204	136	69	177	219	-42
	Communication Services	105	50	55	59	64	-6
	b) Transfers	2,169	126	2,043	2,593	110	2,483
	i) Official	30	19	11	34	22	12
	ii) Private	2,139	107	2,032	2,558	87	2,471
	c) Income	655	984	-329	620	1,000	-380
	i) Investment Income	617	924	-307	577	920	-343
	ii) Compensation of Employees	38	60	-22	43	81	-37
	Total Current Account (I+II)	16,284	17,560	-1,276	16,379	18,176	-1,797
B.	CAPITAL ACCOUNT
	1. Foreign Investment (a+b)	7,755	7,405	351	9,434	7,034	2,400
	a) Foreign Direct Investment (i+ii)	1,965	964	1,001	1,831	971	860
	i) In India	1,914	8	1,906	1,796	218	1,578
	Equity	1,462	8	1,454	1,293	200	1,093
	Reinvested Earnings	415	–	415	411	–	411
	Other Capital	37	–	37	92	18	74
	ii) Abroad	51	956	-905	35	753	-718
	Equity	51	620	-569	35	503	-469
	Reinvested Earnings	–	50	-50	–	51	-51
	Other Capital	–	287	-287	–	198	-198
	b) Portfolio Investment	5,790	6,441	-650	7,603	6,063	1,540
	i) In India	5,783	6,425	-642	7,590	6,051	1,539
	of which:
	FIIs	7,194	5,863	1,332	7430	6051	1,379
	ADR/GDRs	149	–	149	160	–	160
	ii) Abroad	7	15	-8	13	12	1
	2. Loans (a+b+c)	2,854	2,506	348	3,499	2,920	580
	a) External Assistance	244	129	115	279	143	136
	i) By India	3	19	-16	2	20	-18
	ii) To India	241	110	131	276	123	154
	b) Commercial Borrowings	708	343	365	706	611	95
	i) By India	92	36	56	46	71	-25
	ii) To India	616	307	309	660	540	120
	c) Short Term to India	1,901	2,034	-133	2,515	2,166	349
	i) Suppliers’ Credit > 180 days & Buyers’ Credit	1,778	1,777	2	2,296	2,079	217
	ii) Suppliers’ Credit up to 180 days	123	257	-135	219	87	132
	3. Banking Capital (a+b)	2,954	3,146	-192	2,921	2,823	98
	a) Commercial Banks	2,948	3,119	-170	2,893	2,801	92
	i) Assets	1,148	1,306	-158	815	726	89
	ii) Liabilities	1,801	1,813	-12	2,078	2,075	3
	of which: Non-Resident Deposits	1,710	1,506	204	1,964	1,822	142
	b) Others	6	27	-22	28	22	7
	4. Rupee Debt Service	–	5	-5	–	5	-5
	5. Other Capital	761	973	-212	546	1,178	-632
	Total Capital Account (1 to 5)	14,324	14,034	290	16,400	13,960	2,440
C.	Errors & Omissions	15	–	15	–	1	-1
D.	Overall Balance (Total Current Account, Capital Account and Errors & Omissions (A+B+C))	30,673	31,644	-971	32,802	32,159	642
E.	Monetary Movements (i+ii)	971	–	971	–	642	-642
	i) I.M.F.	–	–	–	–	–	–
	ii) Foreign Exchange Reserves (Increase - / Decrease +)	971	–	971	–	642	-642
	of which: SDR allocation	–	–	–	–	250	-250

Item		2010-11 (PR)			2011-12 (P)
No. 40: India’s Overall Balance of Payments (Contd.)
(` Billion)
		Credit	Debit	Net	Credit	Debit	Net
		7	8	9	10	11	12
A.	CURRENT ACCOUNT
	I. MERCHANDISE	11,395	17,351	-5,956	14,825	23,946	-9,121
	II. INVISIBLES (a+b+c)	9,025	5,170	3,855	10,535	5,173	5,362
	a) Services	6,047	3,825	2,223	6,844	3,766	3,078
	i) Travel	695	506	189	892	659	233
	ii) Transportation	650	632	18	876	788	88
	iii) Insurance	89	64	25	127	72	55
	iv) G.n.i.e.	24	37	-13	23	37	-15
	v) Miscellaneous	4,590	2,586	2,004	4,927	2,210	2,717
	of which:
	Software Services	2,524	100	2,424	2,992	60	2,932
	Business Services	1,095	1,264	-169	1,247	1,290	-42
	Financial Services	297	341	-44	287	383	-97
	Communication Services	71	52	19	77	75	2
	b) Transfers	2,563	142	2,421	3,207	155	3,052
	i) Official	29	29	1	31	29	2
	ii) Private	2,533	113	2,420	3,176	126	3,050
	c) Income	415	1,203	-789	484	1,252	-768
	i) Investment Income	364	1,111	-747	366	1,156	-790
	ii) Compensation of Employees	51	92	-41	118	96	22
	Total Current Account (I+II)	20,420	22,521	-2,101	25,360	29,120	-3,760
B.	CAPITAL ACCOUNT
	1. Foreign Investment (a+b)	13,159	11,336	1,823	11,212	9,325	1,887
	a) Foreign Direct Investment (i+ii)	1,616	1,187	429	2,320	1,289	1,032
	i) In India	1,500	319	1,181	2,200	650	1,550
	Equity	926	296	630	1,691	624	1,068
	Reinvested Earnings	544	–	544	393	–	393
	Other Capital	30	23	7	116	27	89
	ii) Abroad	116	868	-752	120	638	-518
	Equity	116	480	-363	120	303	-183
	Reinvested Earnings	–	49	-49	–	58	-58
	Other Capital	–	339	-339	–	277	-277
	b) Portfolio Investment	11,543	10,149	1,394	8,892	8,036	856
	i) In India	11,508	10,061	1,447	8,851	7,983	867
	of which:
	FIIs	11414	10061	1353	8823	7983	840
	ADR/GDRs	94	–	94	28	–	28
	ii) Abroad	35	88	-53	41	53	-12
	2. Loans (a+b+c)	4,907	3,611	1,296	6,765	5,867	897
	a) External Assistance	359	134	225	274	161	113
	i) By India	3	5	-1	3	11	-8
	ii) To India	355	129	226	270	150	121
	b) Commercial Borrowings	1,098	528	570	1,562	1,083	479
	i) By India	84	69	14	178	121	58
	ii) To India	1,014	459	555	1,383	962	421
	c) Short Term to India	3,450	2,949	502	4,929	4,624	306
	i) Suppliers’ Credit > 180 days & Buyers’ Credit	3,284	2,949	335	4,767	4,589	178
	ii) Suppliers’ Credit up to 180 days	167	–	167	162	34	128
	3. Banking Capital (a+b)	4,193	3,973	220	4,278	3,568	710
	a) Commercial Banks	4,116	3,919	197	4,259	3,556	703
	i) Assets	1,599	1,755	-156	615	687	-72
	ii) Liabilities	2,516	2,164	353	3,643	2,869	774
	of which: Non-Resident Deposits	2,243	2,095	148	3,105	2,523	582
	b) Others	77	54	23	20	12	7
	4. Rupee Debt Service	–	3	-3	–	4	-4
	5. Other Capital	447	950	-503	641	942	-301
	Total Capital Account (1 to 5)	22,706	19,873	2,833	22,896	19,706	3,190
C.	Errors & Omissions	–	137	-137	–	116	-116
D.	Overall Balance (Total Current Account, Capital Account and Errors & Omissions (A+B+C))	43,131	42,537	595	48,256	48,941	-685
E.	Monetary Movements (i+ii)	–	595	-595	685	–	685
	i) I.M.F.	–	–	–	–	–	–
	ii) Foreign Exchange Reserves (Increase - / Decrease +)	–	595	-595	685	–	685
	of which: SDR allocation	–	–	–	–	–	–

Item	Apr-Jun 2008 (R)			Jul-Sep 2008 (R)
No. 40: India’s Overall Balance of Payments (Contd.)
(` Billion)
	Credit	Debit	Net	Credit	Debit	Net
	13	14	15	16	17	18
A. CURRENT ACCOUNT
I. MERCHANDISE	2,393	3,443	-1,050	2,348	4,061	-1,713
II. INVISIBLES (a+b+c)	1,666	758	908	2,054	878	1,176
a) Services	984	514	470	1,270	592	678
i) Travel	104	90	14	122	119	3
ii) Transportation	109	139	-30	133	164	-31
iii) Insurance	15	9	5	17	13	3
iv) G.n.i.e.	5	5	1	4	4	-1
v) Miscellaneous	750	271	479	994	292	703
of which:
Software Services	503	35	468	531	30	501
Business Services	170	134	36	237	171	65
Financial Services	26	26	–	73	42	31
Communication Services	21	9	12	32	13	19
b) Transfers	533	27	506	603	36	567
i) Official	6	4	2	2	4	-2
ii) Private	527	23	504	601	32	569
c) Income	149	216	-67	181	250	-68
i) Investment Income	142	202	-60	169	235	-67
ii) Compensation of Employees	6	14	-7	13	14	-2
Total Current Account (I+II)	4,059	4,201	-142	4,402	4,939	-537
B. CAPITAL ACCOUNT
1. Foreign Investment (a+b)	2,236	2,038	197	2,301	2,088	212
a) Foreign Direct Investment (i+ii)	538	165	373	434	165	270
i) In India	528	1	527	420	2	418
Equity	427	1	426	320	2	318
Reinvested Earnings	94	–	94	99	–	99
Other Capital	7	–	7	2	–	2
ii) Abroad	10	164	-154	14	162	-149
Equity	10	105	-95	14	122	-108
Reinvested Earnings	–	11	-11	–	12	-12
Other Capital	–	48	-48	–	29	-29
b) Portfolio Investment	1,698	1,873	-175	1,866	1,924	-57
i) In India	1,697	1,871	-174	1,866	1,923	-57
of which:
FIIs	1,656	1,871	-216	1,860	1,923	-63
ADR/GDRs	42	–	42	6	–	6
ii) Abroad	1	2	-1	1	1	–
2. Loans (a+b+c)	662	404	258	714	601	112
a) External Assistance	39	27	12	49	29	20
i) By India	1	4	-4	1	5	-4
ii) To India	38	23	15	48	25	23
b) Commercial Borrowings	115	53	62	156	81	75
i) By India	17	8	9	23	6	17
ii) To India	98	45	53	133	75	58
c) Short Term to India	508	324	184	508	491	18
i) Suppliers’ Credit > 180 days & Buyers’ Credit	386	324	62	508	428	81
ii) Suppliers’ Credit up to 180 days	123	–	123	–	63	-63
3. Banking Capital (a+b)	916	804	112	716	617	100
a) Commercial Banks	916	797	119	716	617	100
i) Assets	477	439	39	289	226	63
ii) Liabilities	439	359	80	427	391	37
of which: Non-Resident Deposits	379	345	34	402	390	11
b) Others	–	6	-6	–	–	–
4. Rupee Debt Service	–	1	-1	–	–	–
5. Other Capital	193	542	-349	209	336	-127
Total Capital Account (1 to 5)	4,008	3,790	218	3,940	3,643	297
C. Errors & Omissions	17	–	17	33	–	33
D. Overall Balance (Total Current Account, Capital Account and Errors & Omissions (A+B+C))	8,083	7,990	93	8,375	8,582	-207
E. Monetary Movements (i+ii)	–	93	-93	207	–	207
i) I.M.F.	–	–	–	–	–	–
ii) Foreign Exchange Reserves (Increase - / Decrease +)	–	93	-93	207	–	207
of which: SDR allocation	–	–	–	–	–	–

Item	Oct-Dec 2008 (R)			Jan-Mar 2009 (R)
No. 40: India’s Overall Balance of Payments (Contd.)
(` Billion)
	Credit	Debit	Net	Credit	Debit	Net
	19	20	21	22	23	24
A. CURRENT ACCOUNT
I. MERCHANDISE	1,923	3,629	-1,706	1,915	2,921	-1,006
II. INVISIBLES (a+b+c)	2,068	941	1,128	1,916	929	987
a) Services	1,376	639	738	1,250	651	599
i) Travel	143	95	48	133	130	4
ii) Transportation	134	158	-25	145	124	21
iii) Insurance	17	13	4	17	16	1
iv) G.n.i.e.	5	11	-7	4	18	-14
v) Miscellaneous	1,079	361	717	950	363	588
of which:
Software Services	550	28	521	539	23	516
Business Services	237	174	63	212	230	-18
Financial Services	54	36	18	51	31	20
Communication Services	27	13	14	25	15	10
b) Transfers	536	41	495	497	21	476
i) Official	14	5	9	8	6	2
ii) Private	522	36	486	489	15	473
c) Income	156	261	-105	169	258	-88
i) Investment Income	146	244	-98	160	242	-82
ii) Compensation of Employees	9	16	-7	9	16	-6
Total Current Account (I+II)	3,991	4,570	-579	3,832	3,850	-19
B. CAPITAL ACCOUNT
1. Foreign Investment (a+b)	1,842	1,982	-140	1,377	1,295	81
a) Foreign Direct Investment (i+ii)	545	402	143	448	233	215
i) In India	535	1	533	431	3	428
Equity	399	1	398	316	3	313
Reinvested Earnings	110	–	110	112	–	112
Other Capital	26	–	26	3	–	3
ii) Abroad	10	400	-390	17	230	-213
Equity	10	206	-195	17	188	-171
Reinvested Earnings	–	13	-13	–	13	-13
Other Capital	–	181	-181	–	28	-28
b) Portfolio Investment	1,297	1,581	-284	929	1,063	-134
i) In India	1,296	1,578	-282	925	1,054	-129
of which:
FIIs	1,295	1,578	-283	924	1,054	-130
ADR/GDRs	–	–	–	1	–	1
ii) Abroad	1	3	-2	4	9	-5
2. Loans (a+b+c)	771	752	19	707	749	-41
a) External Assistance	82	37	45	73	35	38
i) By India	1	5	-4	1	5	-4
ii) To India	82	32	50	73	30	43
b) Commercial Borrowings	263	84	179	174	125	49
i) By India	32	7	25	20	15	5
ii) To India	231	77	154	154	110	45
c) Short Term to India	425	631	-206	460	589	-129
i) Suppliers’ Credit > 180 days & Buyers’ Credit	425	505	-80	460	520	-61
ii) Suppliers’ Credit up to 180 days	–	126	-126	–	69	-69
3. Banking Capital (a+b)	723	965	-242	599	761	-162
a) Commercial Banks	723	944	-221	593	761	-168
i) Assets	253	368	-115	128	274	-145
ii) Liabilities	470	576	-106	465	487	-22
of which: Non-Resident Deposits	465	415	51	464	356	108
b) Others	–	21	-21	6	–	6
4. Rupee Debt Service	–	–	–	–	3	-3
5. Other Capital	154	34	120	205	60	144
Total Capital Account (1 to 5)	3,489	3,733	-244	2,888	2,869	19
C. Errors & Omissions	–	50	-50	15	–	15
D. Overall Balance (Total Current Account, Capital Account and Errors & Omissions (A+B+C))	7,481	8,353	-872	6,734	6,719	15
E. Monetary Movements (i+ii)	872	–	872	–	15	-15
i) I.M.F.	–	–	–	–	–	–
ii) Foreign Exchange Reserves (Increase - / Decrease +)	872	–	872	–	15	-15
of which: SDR allocation	–	–	–	–	–	–

Item		Apr-Jun 2009 (R)			Jul-Sept 2009 (R)
No. 40: India’s Overall Balance of Payments (Contd.)
(` Billion)
		Credit	Debit	Net	Credit	Debit	Net
		25	26	27	28	29	30
A.	CURRENT ACCOUNT
	I. MERCHANDISE	1,911	3,193	-1,282	2,101	3,534	-1,433
	II. INVISIBLES (a+b+c)	1,889	809	1,080	1,960	973	988
	a) Services	1,094	534	559	1,034	664	370
	i) Travel	112	99	13	132	114	18
	ii) Transportation	122	135	-13	124	108	17
	iii) Insurance	19	15	4	19	16	2
	iv) G.n.i.e.	5	5	–	5	6	-1
	v) Miscellaneous	836	279	556	754	419	335
	of which:
	Software Services	537	19	518	543	21	521
	Business Services	126	161	-35	121	223	-102
	Financial Services	54	41	14	35	55	-19
	Communication Services	20	14	7	15	15	–
	b) Transfers	651	23	628	697	28	669
	i) Official	2	5	-3	8	5	3
	ii) Private	649	18	631	688	22	666
	c) Income	144	252	-108	230	282	-52
	i) Investment Income	133	235	-102	220	265	-45
	ii) Compensation of Employees	11	17	-6	10	17	-7
	Total Current Account (I+II)	3,799	4,002	-203	4,062	4,507	-445
B.	CAPITAL ACCOUNT
	1. Foreign Investment (a+b)	2,370	1,724	646	2,707	1,879	828
	a) Foreign Direct Investment (i+ii)	485	243	242	559	200	359
	i) In India	479	45	434	555	31	524
	Equity	356	44	312	414	29	385
	Reinvested Earnings	106	–	106	105	–	105
	Other Capital	18	1	17	36	2	34
	ii) Abroad	6	198	-192	5	169	-165
	Equity	6	138	-132	5	103	-99
	Reinvested Earnings	–	13	-13	–	13	-13
	Other Capital	–	46	-46	–	53	-53
	b) Portfolio Investment	1,884	1,481	403	2,148	1,679	469
	i) In India	1,883	1,480	403	2,148	1,678	470
	of which:
	FIIs	1,881	1,480	401	2,019	1,678	341
	ADR/GDRs	2	–	2	129	–	129
	ii) Abroad	1	1	–	–	1	-1
	2. Loans (a+b+c)	640	709	-69	808	655	153
	a) External Assistance	49	36	14	72	36	36
	i) By India	1	5	-5	1	5	-4
	ii) To India	49	30	18	71	31	40
	b) Commercial Borrowings	96	118	-22	159	100	59
	i) By India	12	16	-4	10	10	–
	ii) To India	84	102	-17	149	90	59
	c) Short Term to India	494	555	-61	578	519	58
	i) Suppliers’ Credit > 180 days & Buyers’ Credit	494	468	26	532	519	13
	ii) Suppliers’ Credit up to 180 days	–	87	-87	45	–	45
	3. Banking Capital (a+b)	760	924	-164	801	587	214
	a) Commercial Banks	760	913	-153	801	580	221
	i) Assets	213	339	-126	297	84	213
	ii) Liabilities	547	574	-27	504	497	7
	of which: Non-Resident Deposits	545	456	89	501	450	51
	b) Others	–	12	-12	–	7	-7
	4. Rupee Debt Service	–	1	-1	–	–	–
	5. Other Capital	27	252	-226	334	596	-262
	Total Capital Account (1 to 5)	3,796	3,610	186	4,650	3,718	932
C.	Errors & Omissions	22	–	22	–	31	-31
D.	Overall Balance (Total Current Account, Capital Account and Errors & Omissions (A+B+C))	7,618	7,612	6	8,712	8,256	456
E.	Monetary Movements (i+ii)	–	6	-6	–	456	-456
	i) I.M.F.	–	–	–	–	–	–
	ii) Foreign Exchange Reserves (Increase - / Decrease +)	–	6	-6	–	456	-456
	of which: SDR allocation	–	–	–	–	250	-250

Item		Oct-Dec 2009 (R)			Jan-Mar 2010 (R)
No. 40: India’s Overall Balance of Payments (Contd.)
(` Billion)
		Credit	Debit	Net	Credit	Debit	Net
		31	32	33	34	35	36
A.	CURRENT ACCOUNT
	I. MERCHANDISE	2,200	3,642	-1,443	2,421	3,863	-1,442
	II. INVISIBLES (a+b+c)	1,889	1,014	874	2,009	1,148	861
	a) Services	1,140	746	394	1,278	890	388
	i) Travel	160	108	53	156	121	35
	ii) Transportation	140	157	-17	143	164	-21
	iii) Insurance	19	14	5	19	15	4
	iv) G.n.i.e.	6	6	–	5	7	-2
	v) Miscellaneous	803	461	342	954	583	372
	of which:
	Software Services	616	16	600	657	14	643
	Business Services	115	213	-98	175	256	-81
	Financial Services	37	54	-17	51	70	-19
	Communication Services	12	18	-6	11	18	-6
	b) Transfers	638	30	608	607	29	578
	i) Official	18	5	13	6	7	-1
	ii) Private	608	24	583	601	23	578
	c) Income	123	239	-116	123	228	-105
	i) Investment Income	111	214	-103	113	205	-93
	ii) Compensation of Employees	12	24	-13	11	23	-12
	Total Current Account (I+II)	4,089	4,657	-568	4,429	5,010	-581
B.	CAPITAL ACCOUNT
	1. Foreign Investment (a+b)	2,085	1,690	395	2,272	1,742	530
	a) Foreign Direct Investment (i+ii)	416	286	130	370	243	128
	i) In India	407	68	339	355	74	281
	Equity	278	57	220	246	69	176
	Reinvested Earnings	101	–	101	100	–	100
	Other Capital	28	11	17	10	5	5
	ii) Abroad	9	217	-208	15	169	-154
	Equity	9	170	-161	15	92	-77
	Reinvested Earnings	–	13	-13	–	12	-12
	Other Capital	–	35	-35	–	64	-64
	b) Portfolio Investment	1,669	1,404	265	1,902	1,499	403
	i) In India	1,668	1,401	267	1,891	1,492	398
	of which:
	FIIs	1,646	1,401	245	1,884	1,492	392
	ADR/GDRs	22	–	22	7	–	7
	ii) Abroad	1	3	-2	11	7	4
	2. Loans (a+b+c)	936	670	265	1,116	886	230
	a) External Assistance	77	37	39	81	34	47
	i) By India	1	5	-4	1	5	-4
	ii) To India	76	33	44	80	29	51
	b) Commercial Borrowings	210	131	79	241	262	-21
	i) By India	11	27	-16	14	18	-4
	ii) To India	200	105	95	227	244	-17
	c) Short Term to India	649	502	147	795	590	205
	i) Suppliers’ Credit > 180 days & Buyers’ Credit	562	502	61	707	590	117
	ii) Suppliers’ Credit up to 180 days	86	–	86	88	–	88
	3. Banking Capital (a+b)	708	617	90	652	694	-41
	a) Commercial Banks	680	614	66	652	694	-42
	i) Assets	143	87	56	162	216	-54
	ii) Liabilities	537	527	10	490	478	12
	of which: Non-Resident Deposits	475	446	28	444	469	-25
	b) Others	28	3	25	1	–	1
	4. Rupee Debt Service	–	–	–	–	3	-3
	5. Other Capital	75	156	-81	110	174	-64
	Total Capital Account (1 to 5)	3,803	3,133	670	4,151	3,499	652
C.	Errors & Omissions	–	20	-20	27	–	27
D.	Overall Balance (Total Current Account, Capital Account and Errors & Omissions (A+B+C))	7,891	7,809	82	8,607	8,509	98
E.	Monetary Movements (i+ii)	–	82	-82	–	98	-98
	i) I.M.F.	–	–	–	–	–	–
	ii) Foreign Exchange Reserves (Increase - / Decrease +)	–	82	-82	–	98	-98
	of which: SDR allocation	–	–	–	–	–	–

Item		Apr-June 2010 (PR)			July-Sept 2010 (PR)
No. 40: India’s Overall Balance of Payments (Contd.)
(` Billion)
		Credit	Debit	Net	Credit	Debit	Net
		37	38	39	40	41	42
A.	CURRENT ACCOUNT
	I. MERCHANDISE	2,523	3,979	-1,456	2,419	4,138	-1,719
	II. INVISIBLES (a+b+c)	1,974	1,097	876	2,187	1,254	933
	a) Services	1,216	776	440	1,461	909	552
	i) Travel	135	105	29	157	128	29
	ii) Transportation	143	143	–	152	164	-12
	iii) Insurance	19	14	5	21	18	3
	iv) G.n.i.e.	4	7	-2	6	10	-4
	v) Miscellaneous	915	507	408	1,125	590	536
	of which:
	Software Services	562	26	536	579	27	552
	Business Services	220	269	-49	276	324	-48
	Financial Services	56	64	-8	85	89	-4
	Communication Services	15	11	4	19	12	7
	b) Transfers	628	33	594	635	31	603
	i) Official	3	6	-4	7	6	–
	ii) Private	625	27	598	628	25	603
	c) Income	130	288	-158	92	314	-222
	i) Investment Income	120	266	-146	80	294	-214
	ii) Compensation of Employees	10	22	-12	11	20	-9
	Total Current Account (I+II)	4,497	5,076	-579	4,606	5,392	-786
B.	CAPITAL ACCOUNT
	1. Foreign Investment (a+b)	2,437	2,068	369	3,181	2,123	1,058
	a) Foreign Direct Investment (i+ii)	426	268	159	426	260	166
	i) In India	413	105	308	399	51	348
	Equity	273	104	169	253	48	205
	Reinvested Earnings	136	–	136	139	–	139
	Other Capital	3	1	2	7	3	4
	ii) Abroad	13	163	-149	27	209	-182
	Equity	13	98	-84	27	119	-92
	Reinvested Earnings	–	12	-12	–	13	-13
	Other Capital	–	53	-53	–	78	-78
	b) Portfolio Investment	2,011	1,800	210	2,755	1,863	892
	i) In India	2,006	1,794	212	2,748	1,853	895
	of which:
	FIIs	1,955	1,794	161	2,725	1,853	872
	ADR/GDRs	51	–	51	23	–	23
	ii) Abroad	4	6	-2	7	10	-3
	2. Loans (a+b+c)	1,071	660	411	1,239	930	309
	a) External Assistance	146	35	112	59	32	27
	i) By India	1	1	–	1	1	–
	ii) To India	146	33	112	58	31	27
	b) Commercial Borrowings	202	100	102	277	117	160
	i) By India	8	11	-3	14	26	-12
	ii) To India	194	89	104	263	91	172
	c) Short Term to India	722	525	197	903	781	122
	i) Suppliers’ Credit > 180 days & Buyers’ Credit	670	525	145	849	781	67
	ii) Suppliers’ Credit up to 180 days	52	–	52	54	–	54
	3. Banking Capital (a+b)	764	581	183	790	937	-147
	a) Commercial Banks	764	580	184	790	909	-119
	i) Assets	149	117	32	195	373	-178
	ii) Liabilities	615	464	151	595	536	59
	of which: Non-Resident Deposits	513	462	51	543	494	49
	b) Others	–	1	-1	–	28	-28
	4. Rupee Debt Service	–	1	-1	–	–	–
	5. Other Capital	67	237	-170	16	231	-216
	Total Capital Account (1 to 5)	4,339	3,547	791	5,225	4,221	1,004
C.	Errors & Omissions	–	41	-41	–	66	-66
D.	Overall Balance (Total Current Account, Capital Account and Errors & Omissions (A+B+C))	8,836	8,665	171	9,831	9,678	153
E.	Monetary Movements (i+ii)	–	171	-171	–	153	-153
	i) I.M.F.	–	–	–	–	–	–
	ii) Foreign Exchange Reserves (Increase - / Decrease +)	–	171	-171	–	153	-153
	of which: SDR allocation	–	–	–	–	–	–

Item		Oct-Dec 2010 (PR)			Jan-Mar 2011 (PR)
No. 40: India’s Overall Balance of Payments (Contd.)
(` Billion)
		Credit	Debit	Net	Credit	Debit	Net
		43	44	45	46	47	48
A.	CURRENT ACCOUNT
	I. MERCHANDISE	2,956	4,370	-1,414	3,497	4,864	-1,367
	II. INVISIBLES (a+b+c)	2,498	1,531	967	2,366	1,288	1,078
	a) Services	1,757	1,193	564	1,614	947	667
	i) Travel	199	128	71	205	145	60
	ii) Transportation	167	179	-12	188	147	41
	iii) Insurance	23	18	5	27	14	13
	iv) G.n.i.e.	7	9	-2	7	13	-5
	v) Miscellaneous	1,362	859	503	1187	629	558
	of which:
	Software Services	661	32	630	721	15	707
	Business Services	318	358	-40	281	313	-32
	Financial Services	76	88	-12	80	100	-20
	Communication Services	19	14	5	18	15	2
	b) Transfers	647	38	609	654	40	614
	i) Official	15	9	6	5	7	-2
	ii) Private	632	29	603	649	33	616
	c) Income	94	300	-206	99	301	-202
	i) Investment Income	81	275	-194	82	276	-194
	ii) Compensation of Employees	13	25	-13	16	25	-9
	Total Current Account (I+II)	5,454	5,902	-448	5,863	6,151	-288
B.	CAPITAL ACCOUNT
	1. Foreign Investment (a+b)	4,989	4,653	336	2,552	2,492	60
	a) Foreign Direct Investment (i+ii)	423	369	54	341	290	51
	i) In India	374	99	275	314	64	249
	Equity	236	83	152	163	61	103
	Reinvested Earnings	134	–	134	135	–	135
	Other Capital	5	15	-11	15	4	12
	ii) Abroad	49	271	-222	27	226	-198
	Equity	49	150	-101	27	114	-86
	Reinvested Earnings	–	12	-12	–	12	-12
	Other Capital	–	109	-109	–	100	-100
	b) Portfolio Investment	4,567	4,284	283	2,211	2,202	9
	i) In India	4,560	4,229	332	2,193	2,185	8
	of which:
	FIIs	4,550	4,229	321	2,184	2,185	-2
	ADR/GDRs	10	–	10	10	–	10
	ii) Abroad	6	55	-49	18	17	1
	2. Loans (a+b+c)	1,194	908	286	1,403	1,113	290
	a) External Assistance	87	35	52	66	32	34
	i) By India	1	1	–	1	1	–
	ii) To India	86	34	52	65	31	34
	b) Commercial Borrowings	285	111	174	334	200	134
	i) By India	26	10	16	36	22	13
	ii) To India	259	101	158	299	178	120
	c) Short Term to India	823	762	60	1,003	880	123
	i) Suppliers’ Credit > 180 days & Buyers’ Credit	809	762	47	956	880	76
	ii) Suppliers’ Credit up to 180 days	14	–	14	47	–	47
	3. Banking Capital (a+b)	1,485	1,265	220	1,154	1,189	-35
	a) Commercial Banks	1,481	1,265	216	1,081	1,164	-84
	i) Assets	897	684	213	359	581	-223
	ii) Liabilities	584	582	3	722	583	139
	of which: Non-Resident Deposits	564	555	8	623	583	40
	b) Others	4	–	4	73	25	48
	4. Rupee Debt Service	–	–	–	–	2	-2
	5. Other Capital	154	374	-221	210	107	103
	Total Capital Account (1 to 5)	7,822	7,201	621	5,320	4,904	416
C.	Errors & Omissions	5	–	5	–	36	-36
D.	Overall Balance (Total Current Account, Capital Account and Errors & Omissions (A+B+C))	13,282	13,103	179	11,182	11,090	92
E.	Monetary Movements (i+ii)	–	179	-179	–	92	-92
	i) I.M.F.	–	–	–	–	–	–
	ii) Foreign Exchange Reserves (Increase - / Decrease +)	–	179	-179	–	92	-92
	of which: SDR allocation	–	–	–	–	–	–

Item		Apr-Jun 2011 (PR)			Jul-Sept 2011 (PR)
No. 40: India’s Overall Balance of Payments (Contd.)
(` Billion)
		Credit	Debit	Net	Credit	Debit	Net
		49	50	51	52	53	54
A.	CURRENT ACCOUNT
	I. MERCHANDISE	3,516	5,528	-2,012	3,642	5,680	-2,038
	II. INVISIBLES (a+b+c)	2,329	1,101	1,228	2,385	1,212	1,174
	a) Services	1,523	789	734	1,494	854	641
	i) Travel	165	155	11	194	162	32
	ii) Transportation	195	179	16	206	166	40
	iii) Insurance	25	13	12	29	19	9
	iv) G.n.i.e.	6	9	-3	7	8	-1
	v) Miscellaneous	1,131	433	698	1,059	499	560
	of which:
	Software Services	668	14	655	638	14	624
	Business Services	258	264	-6	280	291	-11
	Financial Services	57	79	-22	72	97	-25
	Communication Services	16	19	-2	18	14	4
	b) Transfers	695	38	657	750	35	714
	i) Official	2	6	-4	6	7	-1
	ii) Private	693	32	661	743	28	715
	c) Income	111	274	-162	141	323	-181
	i) Investment Income	85	256	-171	109	301	-192
	ii) Compensation of Employees	26	18	8	33	21	11
	Total Current Account (I+II)	5,845	6,629	-784	6,027	6,892	-865
B.	CAPITAL ACCOUNT
	1. Foreign Investment (a+b)	2,953	2,426	527	2,527	2,285	242
	a) Foreign Direct Investment (i+ii)	776	362	414	548	252	297
	i) In India	758	204	554	532	98	434
	Equity	601	189	412	419	92	327
	Reinvested Earnings	92	–	92	94	–	94
	Other Capital	65	15	50	18	6	13
	ii) Abroad	18	158	-140	17	154	-137
	Equity	18	69	-51	17	75	-58
	Reinvested Earnings	–	14	-14	–	14	-14
	Other Capital	–	75	-75	–	65	-65
	b) Portfolio Investment	2,177	2,064	114	1,979	2,034	-55
	i) In India	2,173	2,050	123	1,958	2,021	-63
	of which:
	FIIs	2,161	2,050	111	1,948	2,021	-73
	ADR/GDRs	12	–	12	9	–	9
	ii) Abroad	4	14	-9	21	12	9
	2. Loans (a+b+c)	1,439	1,150	289	1,706	1,317	389
	a) External Assistance	55	40	16	49	36	13
	i) By India	1	3	-2	1	3	-2
	ii) To India	55	37	17	49	34	15
	b) Commercial Borrowings	304	167	136	448	204	244
	i) By India	15	14	1	51	21	30
	ii) To India	288	153	136	397	182	215
	c) Short Term to India	1,080	943	137	1,209	1,077	131
	i) Suppliers’ Credit > 180 days & Buyers’ Credit	1,014	943	71	1,150	1,077	73
	ii) Suppliers’ Credit up to 180 days	66	–	66	58	–	58
	3. Banking Capital (a+b)	1,286	720	566	938	615	323
	a) Commercial Banks	1,285	719	566	922	615	307
	i) Assets	485	205	280	102	46	56
	ii) Liabilities	799	513	286	820	569	251
	of which: Non-Resident Deposits	558	507	51	691	563	128
	b) Others	1	1	–	16	–	16
	4. Rupee Debt Service	–	1	-1	–	–	–
	5. Other Capital	75	387	-312	217	275	-58
	Total Capital Account (1 to 5)	5,753	4,684	1,070	5,388	4,492	896
C.	Errors & Omissions	–	42	-42	–	18	-18
D.	Overall Balance (Total Current Account, Capital Account and Errors & Omissions (A+B+C))	11,598	11,355	243	11,415	11,403	13
E.	Monetary Movements (i+ii)	–	243	-243	–	13	-13
	i) I.M.F.	–	–	–	–	–	–
	ii) Foreign Exchange Reserves (Increase - / Decrease +)	–	243	-243	–	13	-13
	of which: SDR allocation	–	–	–	–	–	–

Item		Oct-Dec 2011 (PR)			Jan-Mar 2012 (P)
No. 40: India’s Overall Balance of Payments (Contd.)
(` Billion)
		Credit	Debit	Net	Credit	Debit	Net
		55	56	57	58	59	60
A.	CURRENT ACCOUNT
	I. MERCHANDISE	3,636	6,117	-2,481	4,031	6,621	-2,590
	II. INVISIBLES (a+b+c)	2,896	1,432	1,464	2,925	1,429	1,496
	a) Services	1,913	1,089	823	1,914	1,033	881
	i) Travel	258	180	78	275	163	112
	ii) Transportation	240	226	13	235	217	19
	iii) Insurance	41	22	18	32	17	15
	iv) G.n.i.e.	7	9	-2	2	11	-8
	v) Miscellaneous	1,367	651	716	1,370	626	744
	of which:
	Software Services	821	16	805	865	17	848
	Business Services	347	354	-7	362	381	-19
	Financial Services	82	111	-29	75	96	-20
	Communication Services	23	17	6	20	25	-5
	b) Transfers	867	31	836	896	51	845
	i) Official	18	8	10	5	8	-3
	ii) Private	849	24	825	891	43	848
	c) Income	117	312	-195	114	344	-230
	i) Investment Income	87	284	-197	85	315	-231
	ii) Compensation of Employees	30	28	2	29	29	1
	Total Current Account (I+II)	6,533	7,549	-1,016	6,955	8,050	-1,094
B.	CAPITAL ACCOUNT
	1. Foreign Investment (a+b)	2,536	2,186	349	3,196	2,428	768
	a) Foreign Direct Investment (i+ii)	531	279	253	465	396	68
	i) In India	480	130	350	430	218	212
	Equity	364	128	236	307	214	92
	Reinvested Earnings	104	–	104	103	–	103
	Other Capital	12	2	10	21	4	16
	ii) Abroad	51	148	-97	34	178	-144
	Equity	51	71	-20	34	89	-54
	Reinvested Earnings	–	15	-15	–	15	-15
	Other Capital	–	62	-62	–	74	-74
	b) Portfolio Investment	2,004	1,907	97	2,732	2,031	700
	i) In India	1,994	1,895	99	2,726	2,017	709
	of which:
	FIIs	1,990	1,895	95	2,725	2,017	707
	ADR/GDRs	4	–	4	2	–	2
	ii) Abroad	10	13	-2	6	14	-9
	2. Loans (a+b+c)	1,792	1,710	82	1,827	1,690	138
	a) External Assistance	112	44	69	56	41	15
	i) By India	1	3	-2	1	3	-2
	ii) To India	112	41	71	55	38	17
	b) Commercial Borrowings	399	415	-17	412	297	115
	i) By India	72	46	26	41	39	2
	ii) To India	327	369	-42	371	258	113
	c) Short Term to India	1,281	1,251	29	1,359	1,352	8
	i) Suppliers’ Credit > 180 days & Buyers’ Credit	1,281	1,217	64	1,322	1,352	-30
	ii) Suppliers’ Credit up to 180 days	–	34	-34	38	–	38
	3. Banking Capital (a+b)	822	1,102	-279	1,232	1,131	101
	a) Commercial Banks	822	1,095	-273	1,229	1,127	103
	i) Assets	20	141	-121	8	294	-286
	ii) Liabilities	802	954	-152	1,221	832	389
	of which: Non-Resident Deposits	800	630	169	1,056	822	234
	b) Others	–	6	-6	2	5	-2
	4. Rupee Debt Service	–	–	–	–	2	-2
	5. Other Capital	281	41	240	69	239	-170
	Total Capital Account (1 to 5)	5,430	5,039	391	6,325	5,491	834
C.	Errors & Omissions	–	27	-27	–	28	-28
D.	Overall Balance (Total Current Account, Capital Account and Errors & Omissions (A+B+C))	11,963	12,616	-653	13,280	13,568	-288
E.	Monetary Movements (i+ii)	653	–	653	288	–	288
	i) I.M.F.	–	–	–	–	–	–
	ii) Foreign Exchange Reserves (Increase - / Decrease +)	653	–	653	288	–	288
	of which: SDR allocation	–	–	–	–	–	–

Item		Apr-Mar 2011-12 (P)			Apr-Mar 2010-11 (PR)
No. 40: India’s Overall Balance of Payments (Concld.)
(` Billion)
		Credit	Debit	Net	Credit	Debit	Net
		61	62	63	64	65	66
A.	CURRENT ACCOUNT
	I. MERCHANDISE	14,825	23,946	-9,121	11,395	17,351	-5,956
	II. INVISIBLES (a+b+c)	10,535	5,173	5,362	9,025	5,170	3,855
	a) Services	6,844	3,765	3,079	6,047	3,825	2,223
	i) Travel	892	659	233	695	506	189
	ii) Transportation	876	788	88	650	632	18
	iii) Insurance	127	72	55	89	64	25
	iv) G.n.i.e.	23	37	-14	24	37	-13
	v) Miscellaneous	4,927	2,209	2,718	4,590	2,586	2,004
	of which:
	Software Services	2,992	60	2,932	2,524	100	2,424
	Business Services	1,247	1,290	-42	1,095	1,264	-169
	Financial Services	287	383	-97	297	341	-44
	Communication Services	77	75	2	71	52	19
	b) Transfers	3,208	156	3,052	2,563	142	2,421
	i) Official	31	29	2	29	29	1
	ii) Private	3,177	127	3,050	2,533	113	2,420
	c) Income	484	1,252	-768	415	1,203	-789
	i) Investment Income	366	1,156	-790	364	1,111	-747
	ii) Compensation of Employees	118	96	22	51	92	-41
	Total Current Account (I+II)	25,360	29,120	-3,760	20,420	22,521	-2,101
B.	CAPITAL ACCOUNT
	1. Foreign Investment (a+b)	11,212	9,325	1,887	13,159	11,336	1,823
	a) Foreign Direct Investment (i+ii)	2,320	1,289	1,032	1,616	1,187	429
	i) In India	2,200	650	1,550	1,500	319	1,181
	Equity	1,691	624	1,068	926	296	630
	Reinvested Earnings	393	–	393	544	–	544
	Other Capital	116	27	89	30	23	7
	ii) Abroad	120	638	-518	116	868	-752
	Equity	120	303	-183	116	480	-363
	Reinvested Earnings	–	58	-58	–	49	-49
	Other Capital	–	277	-277	–	339	-339
	b) Portfolio Investment	8,892	8,036	856	11,543	10,149	1,394
	i) In India	8,851	7,983	867	11,508	10,061	1,447
	of which:
	FIIs	8,823	7,983	840	11,414	10,061	1,353
	ADR/GDRs	28	–	28	94	–	94
	ii) Abroad	41	53	-12	35	88	-53
	2. Loans (a+b+c)	6,765	5,867	897	4,907	3,611	1,296
	a) External Assistance	274	161	113	359	134	225
	i) By India	3	11	-8	3	5	-1
	ii) To India	270	150	121	355	129	226
	b) Commercial Borrowings	1,562	1,083	479	1,098	528	570
	i) By India	178	121	58	84	69	14
	ii) To India	1,383	962	421	1,014	459	555
	c) Short Term to India	4,929	4,624	306	3,450	2,949	502
	i) Suppliers’ Credit > 180 days & Buyers’ Credit	4,767	4,589	178	3,284	2,949	335
	ii) Suppliers’ Credit up to 180 days	162	34	128	167	–	167
	3. Banking Capital (a+b)	4,278	3,568	710	4,193	3,973	220
	a) Commercial Banks	4,259	3,556	703	4,116	3,919	197
	i) Assets	615	687	-72	1,599	1,755	-156
	ii) Liabilities	3,643	2,869	774	2,516	2,164	353
	of which: Non-Resident Deposits	3,105	2,523	582	2,243	2,095	148
	b) Others	20	12	7	77	54	23
	4. Rupee Debt Service	–	4	-4	–	3	-3
	5. Other Capital	641	942	-301	447	950	-503
	Total Capital Account (1 to 5)	22,896	19,706	3,190	22,706	19,873	2,833
C.	Errors & Omissions	–	116	-116		137	-137
D.	Overall Balance (Total Current Account, Capital Account and Errors & Omissions (A+B+C))	48,256	48,941	-685	43,126	42,531	595
E.	Monetary Movements (i+ii)	685	–	685		595	-595
	i) I.M.F.
	ii) Foreign Exchange Reserves (Increase - / Decrease +)	685	–	685		595	-595
	of which: SDR allocation	–	–	–	–	–	–
Note : The comparable figures in new and old formats may not entirely agree due to rounding off. Total of subcomponents may not tally with aggregate due to rounding off. P: Preliminary. PR: Partially Revised. R: Revised.

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