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The table below presents 2010 and 2020 Balance of Payments (BOP) statistics for India. Based on the table, discuss THREE important features of the Indian
The table below presents 2010 and 2020 Balance of Payments (BOP) statistics for India. Based on the table, discuss THREE important features of the Indian economy covering both current and financial accounts. Explain your answers using the statistics provided for the specific years and changes across the two years.
Current account Goods and services Goods Credit Debit Services Credit Debit Primary income Credit Debit Secondary income Credit Debit Data source: IMF India: Balance of Payments (Million US$) 2010 -54.515.9 -81,023.7 -129,179.0 230,967 1 360,146.1 38,155.3 117,068.3 78,913.0 -15,602.0 9,961.1 25,563.1 52,109.8 54.379.9 2,270.1 2020 32,730.0 -8,342.2 -95,449.9 281,545.5 376,995.3 87,107.7 203,145.2 116,037.5 -32,044.8 22,598.6 54,643.4 73.117.0 79,973.0 6,855.9 Financial account Direct investment Net assets Net liabilities Portfolio investment Net assets Net liabilities Other investment Net assets Net liabilities Reserve assets Errors and omissions 2010 2020 -55,469.7 34,0855 -11,428.8 -53,239.7 15,968.1 11,122.7 27,3969 64,3624 -36,875.5 -15,111.7 1,110.8 681.4 37,986.3 15,793.1 -21,2923 -1,763.9 19,106.2 61,548.8 40,3985 63,3126 14,126.8 103,853.3 -1,0035 24118Step by Step Solution
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