Balance of Payment Tile Present Case
The overall exports and imports of the Indian economy has increased over a period of years in the post liberalisation period. Indian economy had severe balance of payment crisis during Prime-Minister Chandrasekhar’s gov cricut, Due 10 certain measure and the policies a~uptcd and introduced hy the then Finance Minister Manmohan Singh. The economy was put on the road of recovery. The late late latencies and the early 2 J I century the rise in both the exports and imports. Earlier “ur (‘X ports were 0.54% but now it has increased to The gov- ’emollient has introduced from time to tunc the export .
and Import Policies, along with certain export due to this export promotion measures due to this, the trade is increasing. This has helped in not only an increase
in export but also imports. At present India is one of the most developed country among the developing nations as far as its item of exports and the quality of products. India’s service sector exports is also increasing. Th over-all balance of payment situation is good, but there are certain other factors which is emerging in between. Due to the flow of NRI deposits as well as direct investments along with the FDI (Foreign Direct Investment) and FIrs (Foreign Institutional Investment)
there is enormous rise in the foreign exchange reserves. It is all time high at 104 billion $S. On the other hand recently the rupee has started appreciating against the U.S $:This may bring about certain repercurssion’s which may harm the exports
and imports. There is a need for proper Exim Policy. India should not base its policy on the slogan of the seventies, that of export or perish.
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