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No. 43 : India's Overall Balance of Payments in Dollars

Date : Jan 13, 2004


(US $ million)
Items		2002-03 PR			2001-02 PR			2000-01 PR			Apr.-Sep. 2003 P
		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	28106	40185	-12079
II. Invisibles (a+b+c)		43373	26326	17047	36690	23205	13485	34786	24006	10780	22382	10096	12286
a) Services		24963	18198	6765	20665	16088	4577	18870	16392	2478	11392	6070	5322
i)	Travel	3029	3467	-438	2910	2282	628	3168	2874	294	1747	1195	552
ii)	Transportation	2524	2547	-23	1969	2382	-413	1913	3170	-1257	1301	1087	214
iii)	Insurance	368	314	54	267	254	13	257	122	135	169	217	-48
iv)	G.n.i.e.	307	228	79	469	272	197	657	341	316	138	107	31
v)	Miscellaneous	18735	11642	7093	15050	10898	4152	12875	9885	2990	8037	3464	4573
	of which : Software Services	9600	737	8863	7556	672	6884	6341	591	5750	5863	253	5610
b) Transfers		15584	367	15217	12577	68	12509	13211	77	13134	9202	155	9047
i)	Official	410	—	410	385	1	384	338	2	336	109	-	109
ii)	Private	15174	367	14807	12192	67	12125	12873	75	12798	9093	155	8938
c) Income		2826	7761	-4935	3448	7049	-3601	2705	7537	-4832	1788	3871	-2083
i)	Investment Income	2732	7742	-5010	3362	7037	-3675	2598	7527	-4929	1751	3854	-2103
ii)	Compensation of Employees	94	19	75	86	12	74	107	10	97	37	17	20
Total Current Account (I+II)		95885	91748	4137	81605	80823	782	79680	83270	-3590	50488	50281	207
B. Capital Account
1. Foreign Investment (a+b)		12325	7770	4555	14450	7758	6692	15981	10119	5862	11429	6242	5187
a) Foreign Direct Investment (i+ii)		4790	1179	3611	6235	1494	4741	4121	849	3272	2148	473	1675
i)	In India	4717	57	4660	6136	5	6131	4051	22	4029	2044	-	2044
	Equity	2757	57	2700	4100	5	4095	2422	22	2400	986	-	986
	Reinvested Earnings @	1498	—	1498	1646	—	1646	1350	—	1350	738	-	738
	OtherCapital	462	—	462	390	—	390	279	—	279	320	-	320
ii)	Abroad	73	1122	-1049	99	1489	-1390	70	827	-757	104	473	-369
	Equity	73	497	-424	99	669	-570	70	414	-344	104	194	-90
	Reinvested Earnings @	—	519	-519	—	699	-699	—	339	-339	-	239	-239
	OtherCapital	—	106	-106	—	121	-121	—	74	-74	-	40	-40
b) Portfolio Investment		7535	6591	944	8215	6264	1951	11860	9270	2590	9281	5769	3512
	In India	7535	6556	979	8215	6195	2020	11860	9100	2760	9281	5747	3534
	Abroad	—	35	-35	—	69	-69	—	170	-170	-	22	-22
2. Loans (a+b+c)		13795	17620	-3825	11512	12862	-1350	22797	18545	4252	11265	9577	1688
a) External Assistance *		2773	5233	-2460	3352	2235	1117	2942	2532	410	1051	1252	-201
i)	By India	—	32	-32	—	87	-87	—	17	-17	-	6	-6
ii)	To India	2773	5201	-2428	3352	2148	1204	2942	2515	427	1051	1246	-195
b) Commercial Borrowings (MT & LT)		2833	5177	-2344	2696	4272	-1576	9052	5315	3737	1783	2107	-324
i)	By India	9	—	9	3	—	3	7	2	5	3	-	3
ii)	To India	2824	5177	-2353	2693	4272	-1579	9045	5313	3732	1780	2107	-327
c) Short Term To India		8189	7210	979	5464	6355	-891	10803	10698	105	8431	6218	2213
3. Banking Capital (a+b)		17969	9557	8412	17526	11934	5592	12772	11961	811	14867	11808	3059
a) Commercial Banks (i+ii)		17433	9311	8122	17041	11656	5385	12452	11567	885	14657	11250	3407
i)	Assets	6853	1990	4863	5051	2789	2262	3009	4477	-1468	1940	1293	647
ii)	Liabilities	10580	7321	3259	11990	8867	3123	9443	7090	2353	12717	9957	2760
of which : Non- Resident Deposits		10087	7111	2976	11435	8681	2754	8989	6672	2317	11736	9708	2028
b) Others		536	246	290	485	278	207	320	394	-74	210	558	-348
4. Rupee Debt Service		—	474	-474	—	519	-519	—	617	-617	-	303	-303
5. OtherCapital		6054	2609	3445	3620	3462	158	3992	4282	-290	4044	759	3285
Total Capital Account (1 to 5)		50143	38030	12113	47108	36535	10573	55542	45524	10018	41605	28689	12916
C. Errors & Omissions		730	—	730	402	—	402	—	572	-572	407	-	407
D. Overall Balance		146758	129778	16980	129115	117358	11757	135222	129366	5856	92500	78970	13530
(Total Capital Account,
Current Account and
Errors & Omissions (A+B+C))
E. Monetary Movements (i+ii)		—	16980	-16980	—	11757	-11757	—	5856	-5856	—	8360	-8360
i)	I.M.F.	—	—	—	—	—	—	—	26	-26	—	—	—
ii)	Foreign Exchange Reserves	—	16980	-16980	—	11757	-11757	—	5830	-5830	—	8360	-8360
	(Increase - / Decrease +)

(US $ million)
Items				Oct.-Dec. 2002 P							Jan.-Mar. 2003 P									Apr.-Jun. 2003 P									Jul.-Sep. 2003 P
				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		12990					17340			-4350			14075			17222			-3147			13543			19397			-5854		14563				20788			-6225
II. Invisibles (a+b+c)		11478					6213			5265			11245			6883			4362			10425			4888			5537		11957				5208			6749
a) Services		6875					4220			2655			6407			4732			1675			5322			2852			2470		6070				3218			2852
i)	Travel	839				760			79			868			1076			-208			854			507			347			893			688			205
ii)	Transportation	576				651			-75			590			546			44			610			549			61			691			538			153
iii)	Insurance	83				109			-26			99			91			8			79			101			-22			90			116			-26
iv)	G.n.i.e.	74				61			13			60			38			22			71			64			7			67			43			24
v)	Miscellaneous	5303				2639			2664			4790			2981			1809			3708			1631			2077			4329			1933			2496
	of which : Software Services	2596				181			2415			2622			191			2431			2862			176			2686			3001			77			2924
b) Transfers		4018					29			3989			4122			164			3958			4304			119			4185			4898			36			4862
i)	Official	160				—			160			154			—			154			34			—			34			75			—			75
ii)	Private	3858				29			3829			3968			164			3804			4270			119			4151			4823			36			4787
c) Income		585					1964			-1379			716			1987			-1271			799			1917			-1118			989			1954			-965
i)	Investment Income	556			1958			-1402			692			1980			-1288			778			1910			-1132			973			1944			-971
ii)	Compensation of Employees	29			6			23			24			7			17			21			7			14			16			10			6
Total Current Account (I+II)		24468					23553			915			25320			24105			1215			23968			24285			-317			26250			25996			524
B. Capital Account
1. Foreign Investment (a+b)		3582					2057			1525			3468			2032			1436			4620			2509			2111			6809			3733			3076
a) Foreign Direct Investment (i+ii)		1057					277			780			1101			258			843			937			202			735			1211			271			940
i)	In India	1039			—			1039			1095			45			1050			871			—			871			1173			-			1173
	Equity	511			—			511			609			45			564			348			—			348			638			-			638
	Reinvested Earnings @	374			—			374			375			—			375			365			—			365			373			-			373
	OtherCapital	154			—			154			111			—			111			158			—			158			162			-			162
ii)	Abroad	18			277			-259			6			213			-207			66			202			-136			38			271			-233
	Equity	18			118			-100			6			63			-57			66			64			2			38			130			-92
	Reinvested Earnings @	—			130			-130			—			130			-130			—			118			-118			-			121			-121
	OtherCapital	—			29			-29			—			20			-20			—			20			-20			-			20			-20
b) Portfolio Investment		2525			1780			745			2367			1774			593			3683			2307			1376			5598			3462			2136
	In India	2525			1780			745			2367			1774			593			3683			2285			1396			5598			3462			2136
	Abroad	—			—			—			—			—			—			—			22			-22			-			-			-
2. Loans (a+b+c)		3159			3285			-126			4395			6701			-2306			5713			4910			803			5552			4667			885
a) External Assistance *		774			637			137			868			3447			-2579			462			793			-331			589			459			130
i)	By India	—			—			—			—			1			-1			—			5			-5			-			1			-1
ii)	To India	774			637			137			868			3446			-2578			462			788			-326			589			458			131
b) Commercial Borrowings (MT & LT)			679		981			-302			1001			1325			-324			930			699			231			853			1408			-555
i)	By India	9			—			9			—			—			—			—			—			—			3			-			3
ii)	To India	670			981			-311			1001			1325			-324			930			699			231			850			1408			-558
c) Short Term To India		1706			1667			39			2526			1929			597			4321			3418			903			4110			2800			310
3. Banking Capital (a+b)		6765			2427			4338			3495			1875			1620			10798			8900			1898			4069			2908			1161
a) Commercial Banks (i+ii)		6764			2308			4456			3484			1875			1609			10588			8627			1961			4069			2623			1446
i)	Assets	3593			103			3490			1161			154			1007			753			481			272			1187			812			375
ii)	Liabilities	3171			2205			966			2323			1721			602			9835			8146			1689			2882			1811			1071
of which : Non-Resident Deposits		3071			2194			877			2270			1663			607			9676			7917			1759			2060			1791			269
b) Others		1			119			-118			11			—			11			210			273			-63			-			285			-285
4. Rupee Debt Service		—			—			—			—			116			-116			—			301			-301			-			2			-2
5. OtherCapital		1242			778			464			1659			679			980			1352			456			896			2692			303			2389
Total Capital Account (1 to 5)		14748			8547			6201			13017			11403			1614			22483			17076			5407			19122			11613			7509
C. Errors & Omissions		—			1036			-1036			1482			—			1482			80			—			80			327			-			327
D. Overall Balance		39216			33136			6080			39819			35508			4311			46531			41361			5170			45969			37609			8360
(Total Capital Account,
Current Account and
Errors & Omissions (A+B+C))
E. Monetary Movements (i+ii)		—			6080			-6080			—			4311			-4311			—			5170			-5170			—			8360			-8360
i)	I.M.F.	—			—			—			—			—			—			—			—			—			—			—			—
ii)	Foreign Exchange Reserves	—			6080			-6080			—			4311			-4311			—			5170			-5170			—			8360			-8360
	(Increase - / Decrease +)

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