(US$ million)

A.

CURRENT ACCOUNT

I. MERCHANDISE

76,708

119,181

-42,473

78,642

123,651

-45,009

II. INVISIBLES (a+b+c)

54,008

28,086

25,922

52,085

24,617

27,468

a) Services

34,381

20,206

14,175

34,055

17,637

16,418

i) Travel

3,506

3,108

398

3,697

3,461

237

ii) Transportation

4,250

3,656

594

4,355

4,002

353

iii) Insurance

532

249

283

569

298

271

iv) G.n.i.e.

159

163

-5

139

201

-63

v) Miscellaneous

25,934

13,029

12,905

25,295

9,675

15,620

of which:

Software Services

15,843

632

15,211

14,950

302

14,647

Business Services

7,611

7,748

-137

5,780

5,914

-133

Financial Services

1,306

1,436

-130

1,282

1,764

-482

Communication Services

419

104

315

360

415

-55

b) Transfers

17,492

839

16,653

15,538

858

14,680

i) Official

37

192

-155

46

146

-100

ii) Private

17,455

647

16,808

15,491

712

14,779

c) Income

2,135

7,040

-4,905

2,493

6,122

-3,629

i) Investment Income

1,436

6,554

-5,118

1,904

5,722

-3,818

ii) Compensation of Employees

698

486

212

589

400

189

Total Current Account (I+II)

130,716

147,267

-16,551

1,30,727

1,48,268

-17,541

B.

CAPITAL ACCOUNT

1. Foreign Investment (a+b)

43,871

41,557

2,314

66,052

54,255

11,798

a) Foreign Direct Investment (i+ii)

8,458

4,221

4,236

17,351

8,095

9,256

i) In India

7,595

1,390

6,204

16,947

4,559

12,388

Equity

4,896

1,033

3,863

13,445

4,226

9,219

Reinvested Earnings

2,284

0

2,284

2,051

–

2,051

Other Capital

415

358

57

1,451

333

1,118

ii) Abroad

863

2,831

-1,968

404

3,536

-3,132

Equity

863

1,309

-446

404

1,549

-1,145

Reinvested Earnings

0

297

-297

–

302

-302

Other Capital

0

1,225

-1,225

–

1,685

-1,685

b) Portfolio Investment

35,413

37,335

-1,922

48,701

46,159

2,541

i) In India

35,175

36,787

-1,612

48,607

45,857

2,750

of which:

FIIs

35,081

36,787

-1,706

48,329

45,857

2,472

ADR/GDRs

94

0

94

278

–

278

ii) Abroad

238

548

-310

94

303

-208

2. Loans (a+b+c)

37,041

30,873

6,168

32,191

25,721

6,470

a) External Assistance

551

735

-184

1,236

887

349

i) By India

14

78

-64

17

57

-39

ii) To India

537

657

-120

1,219

831

388

b) Commercial Borrowings

6,282

5,307

975

6,790

3,738

3,052

i) By India

1,068

936

132

339

319

21

ii) To India

5,214

4,371

843

6,451

3,419

3,031

c) Short Term to India

30,208

24,831

5,378

24,165

21,096

3,069

i) Suppliers’ Credit > 180 days & Buyers’ Credit

30,208

24,171

6,038

22,682

21,096

1,586

ii) Suppliers’ Credit up to 180 days

-

660

-660

1,483

–

1,483

3. Banking Capital (a+b)

27,371

17,937

9,434

28,767

16,103

12,664

a) Commercial Banks

27,345

17,828

9,517

28,736

16,077

12,659

i) Assets

7,992

2,668

5,324

10,858

4,595

6,263

ii) Liabilities

19,352

15,160

4,193

17,878

11,482

6,396

of which: Non-Resident Deposits

19,338

12,787

6,551

12,488

11,337

1,151

b) Others

26

109

-83

31

27

5

4. Rupee Debt Service

-

26

-26

–

31

-31

5. Other Capital

3,183

4,104

-921

1,672

8,649

-6,977

Total Capital Account (1 to 5)

111,466

94,497

16,969

1,28,683

1,04,760

23,923

C.

Errors & Omissions

103

-

103

-

939

-939

D.

Overall Balance (Total Current Account, Capital Account and Errors & Omissions (A+B+C))

242,285

241,763

521

2,59,410

2,53,968

5,442

E.

Monetary Movements (i+ii)

-

521

521

-

5,442

-5,442

i) I.M.F.

-

-

-

-

-

-

ii) Foreign Exchange Reserves (Increase - / Decrease +)

-

521

-521

-

5,442

-5,442

of which: SDR allocation

-

-

-

-

-

-

P: Preliminary. PR: Partially Revised.

No. 41: India’s Overall Balance of Payments (Contd.)

(US$ million)

A.

CURRENT ACCOUNT

I. MERCHANDISE

79,560

124,088

-44,528

71,400

120,104

-48,704

II. INVISIBLES (a+b+c)

52,107

26,471

25,636

56,866

28,116

28,750

a) Services

32,643

18,651

13,992

37,552

21,385

16,167

i) Travel

4,235

3,534

701

5,068

3,530

1,538

ii) Transportation

4,499

3,624

875

4,705

4,444

260

iii) Insurance

629

423

206

799

440

359

iv) G.n.i.e.

147

179

-32

145

186

-40

v) Miscellaneous

23,134

10,891

12,242

26,835

12,785

14,050

of which:

Software Services

13,940

307

13,633

16,123

317

15,806

Business Services

6,120

6,352

-232

6,806

6,950

-143

Financial Services

1,577

2,130

-553

1,613

2,189

-577

Communication Services

390

309

80

456

341

115

b) Transfers

16,376

775

15,601

17,024

614

16,410

i) Official

136

152

-16

351

149

202

ii) Private

16,240

622

15,618

16,673

465

16,208

c) Income

3,088

7,045

-3,958

2,290

6,118

-3,827

i) Investment Income

2,377

6,578

-4,201

1,707

5,566

-3,859

ii) Compensation of Employees

711

467

244

583

551

32

Total Current Account (I+II)

1,31,667

1,50,558

-18,892

1,28,266

1,48,220

-19,954

B.

CAPITAL ACCOUNT

1. Foreign Investment (a+b)

55,208

49,918

5,289

49,784

42,922

6,861

a) Foreign Direct Investment (i+ii)

11,981

5,496

6,485

10,434

5,470

4,963

i) In India

11,615

2,137

9,478

9,432

2,559

6,873

Equity

9,161

2,015

7,145

7,149

2,515

4,634

Reinvested Earnings

2,051

–

2,051

2,051

–

2,051

Other Capital

403

122

282

232

44

188

ii) Abroad

366

3,359

-2,993

1,001

2,911

-1,910

Equity

366

1,631

-1,265

1,001

1,385

-384

Reinvested Earnings

–

302

-302

–

302

-302

Other Capital

–

1,426

-1,426

–

1,223

-1,223

b) Portfolio Investment

43,227

44,422

-1,196

39,350

37,452

1,898

i) In India

42,769

44,152

-1,384

39,149

37,204

1,945

of which:

FIIs

42,564

44,152

-1,589

39,065

37,204

1,861

ADR/GDRs

205

–

205

84

–

84

ii) Abroad

458

270

188

201

248

-47

2. Loans (a+b+c)

37,270

28,772

8,498

35,183

33,581

1,602

a) External Assistance

1,081

790

291

2,209

856

1,353

i) By India

17

57

-39

17

57

-39

ii) To India

1,063

734

330

2,191

800

1,392

b) Commercial Borrowings

9,785

4,449

5,336

7,827

8,153

-327

i) By India

1,118

469

649

1,405

901

504

ii) To India

8,667

3,980

4,687

6,422

7,252

-830

c) Short Term to India

26,405

23,534

2,871

25,148

24,572

576

i) Suppliers’ Credit > 180 days & Buyers’ Credit

25,130

23,534

1,596

25,148

23,897

1,251

ii) Suppliers’ Credit up to 180 days

1,275

–

1,275

–

675

-675

3. Banking Capital (a+b)

20,488

13,439

7,049

16,146

21,632

-5,487

a) Commercial Banks

20,144

13,439

6,705

16,143

21,505

-5,362

i) Assets

2,223

1,006

1,217

393

2,770

-2,377

ii) Liabilities

17,921

12,433

5,488

15,750

18,735

-2,985

of which: Non-Resident Deposits

15,088

12,302

2,786

15,698

12,375

3,323

b) Others

344

–

344

3

127

-124

4. Rupee Debt Service

–

1

-1

–

–

–

5. Other Capital

4,737

6,006

-1,269

5,511

808

4,703

Total Capital Account (1 to 5)

1,17,704

98,137

19,567

1,06,624

98,944

7,680

C.

Errors & Omissions

–

399

-399

–

538

-538

D.

Overall Balance (Total Current Account, Capital Account and Errors & Omissions (A+B+C))

2,49,370

2,49,094

276

2,34,890

2,47,703

-12,812

E.

Monetary Movements (i+ii)

–

276

-276

12,812

–

12,812

i) I.M.F.

–

–

–

–

–

–

ii) Foreign Exchange Reserves (Increase - / Decrease +)

–

276

-276

12,812

–

12,812

of which: SDR allocation

–

–

–

-

–

–

No. 41: India’s Overall Balance of Payments (Concld.)

(US$ million)

A. CURRENT ACCOUNT

I. MERCHANDISE

80,172

131,690

-51,518

3,09,774

4,99,533

-1,89,759

II. INVISIBLES (a+b+c)

58,172

28,421

29,751

2,19,229

1,07,625

1,11,604

a) Services

38,075

20,554

17,521

1,42,325

78,227

64,098

i) Travel

5,462

3,238

2,224

18,462

13,762

4,699

ii) Transportation

4,681

4,311

370

18,241

16,382

1,859

iii) Insurance

635

337

298

2,632

1,497

1,134

iv) G.n.i.e.

47

214

-166

478

780

-302

v) Miscellaneous

27,250

12,455

14,795

1,02,513

45,806

56,707

of which:

Software Services

17,199

329

16,870

62,212

1,256

60,957

Business Services

7,204

7,574

-370

25,910

26,788

-878

Financial Services

1,495

1,902

-406

5,967

7,984

-2,018

Communication Services

395

491

-97

1,600

1,557

43

b) Transfers

17,824

1,021

16,803

66,761

3,267

63,494

i) Official

99

160

-62

632

607

25

ii) Private

17,725

861

16,864

66,129

2,660

63,469

c) Income

2,273

6,846

-4,573

10,144

26,131

-15,988

i) Investment Income

1,688

6,274

-4,586

7,676

24,141

-16,465

ii) Compensation of Employees

585

572

13

2,468

1,991

477

Total Current Account (I+II)

1,38,344

1,60,112

-21,768

5,29,003

6,07,158

-78,155

B. CAPITAL ACCOUNT

1. Foreign Investment (a+b)

63,574

48,291

15,282

2,34,618

1,95,387

39,231

a) Foreign Direct Investment (i+ii)

9,241

7,885

1,356

49,007

26,947

22,061

i) In India

8,557

4,343

4,214

46,552

13,599

32,952

Equity

6,098

4,262

1,836

35,852

13,019

22,833

Reinvested Earnings

2,051

–

2,051

8,205

–

8,205

Other Capital

408

81

327

2,494

580

1,914

ii) Abroad

684

3,541

-2,857

2,456

13,348

-10,892

Equity

684

1,765

-1,081

2,456

6,330

-3,874

Reinvested Earnings

–

302

-302

–

1,208

-1,208

Other Capital

–

1,474

-1,474

–

5,809

-5,809

b) Portfolio Investment

54,333

40,407

13,926

1,85,610

1,68,440

17,170

i) In India

54,223

40,125

14,098

1,84,747

1,67,338

17,409

of which:

FIIs

54,193

40,125

14,068

1,84,150

1,67,338

16,812

ADR/GDRs

30

–

30

597

–

597

ii) Abroad

110

282

-172

863

1,102

-239

2. Loans (a+b+c)

36,346

33,609

2,737

1,40,990

1,21,683

19,307

a) External Assistance

1,120

817

303

5,646

3,350

2,296

i) By India

17

57

-39

70

226

-157

ii) To India

1,103

760

342

5,576

3,124

2,452

b) Commercial Borrowings

8,189

5,907

2,282

32,590

22,247

10,344

i) By India

807

776

31

3,669

2,465

1,204

ii) To India

7,382

5,131

2,251

28,922

19,782

9,140

c) Short Term to India

27,037

26,885

152

1,02,754

96,087

6,668

i) Suppliers’ Credit > 180 days & Buyers’ Credit

26,288

26,885

-597

99,247

95,412

3,836

ii) Suppliers’ Credit up to 180 days

749

–

749

3,507

675

2,832

3. Banking Capital (a+b)

24,503

22,504

1,999

89,904

73,678

16,226

a) Commercial Banks

24,454

22,408

2,046

89,478

73,429

16,049

i) Assets

162

5,857

-5,696

13,635

14,228

-592

ii) Liabilities

24,293

16,551

7,742

75,842

59,201

16,641

of which: Non-Resident Deposits

21,013

16,355

4,658

64,287

52,370

11,918

b) Others

48

95

-47

426

249

177

4. Rupee Debt Service

–

47

-47

–

79

-79

5. Other Capital

1,375

4,761

-3,386

13,296

20,224

-6,929

Total Capital Account (1 to 5)

1,25,797

1,09,212

16,586

4,78,808

4,11,052

67,755

C. Errors & Omissions

–

555

-555

–

2,432

-2,432

D. Overall Balance (Total Current Account, Capital Account and Errors & Omissions (A+B+C))

2,64,141

2,69,878

-5,738

10,07,811

10,20,643

-12,831

E. Monetary Movements (i+ii)

5,738

–

5,738

12,831

–

12,831

i) I.M.F.

–

–

–

–

–

–

ii) Foreign Exchange Reserves (Increase - / Decrease +)

5,738

–

5,738

12,831

–

12,831

of which: SDR allocation

–

–

–

–

–

–