The balance of payments has been, and continues to be, one of the major concerns for the country. Over the eighties, India’s external payments had reached dangerous proportions, culminating in the crisis of 1990. Since then, as a consequences of a series of imaginative policy initiatives, there has been a turnaround in the payments situation of the country.
Trade imbalances, however, continues to be large, and the need for caution in this important area remains. In this work, the author looks into the forces – domestic and external – which have shaped this problem. The analyses spans 1970-95 and the statistical tests, 1970-92. Drawing on his finding, he recommends specific measures to curb the trade imbalance, so as to improve the external payments scenario of the country.
Contents –
1. India’s Balance of Payments an Overview
2. External Economic Scene
3. Domestic Economic Scene
4. Exports, Imports and Terms of Trade
5. India’s Trade Balance: 1970-71 to 1992-93
6. Some Issue in India’s External Payments
Appendix
Bibliography
