ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Deferred Payment Imports

Little is known about the amount of supplier credits or deferred payment imports which assumed significance for a year or two after 1957 and which were said to have been discouraged thereafter.

Little is known about the amount of supplier credits or deferred payment imports which assumed significance for a year or two after 1957 and which were said to have been discouraged thereafter. Toward the end of 1961, a reliable source put the outstanding liability then at about Rs 100 crores, a little more than onehalf of which was in the public sector, and the balance in the private section. At that time the Reserve Bank had no estimate available of the inflows and outflows on this account. In its July "Bulletin", the Bank has released the results of the private sector data collected by it for 1963-64 and 1964-65.

At the end of March 1963, the amount outstanding under this head was Rs 29 crores. There was a fresh inflow of Es five crores during the two following years, offset by an outflow of Rs 11 crores (exclusive of Rs 90 lakhs per year by way of interest) in discharge mostly of preMarch 1963 obligations. The net outstanding liability in March 1965 was Rs 23 crores. This figure is acknowledged as an underestimate, because it does not include the public sector liability and also because the response from importers in furnishing the required particulars was tardy.

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