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

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BALANCE OF PAYMENTS-Cleaning up the Data

Cleaning up the Data UNTIL recently India's external transactions were shrouded in mystery. Apart from the complexity of data involved, it was the inordinate delay in publishing current statistics, on balance of payments, external debt and such other transactions that has been contributing to the difficulties in making a correct assessment of the evolving trends. Of late, however, there has been a refreshing change in this respect official agencies, namely, the Reserve Bank of India (RBI) and the ministries of finance and commerce, have now begun to publish foreign trade/balance of payments and external debt statistics, fairly regularly. The ministry of commerce has already published the foreign trade statistics, though very provisional, up to December 1994, that is, within a month's lag, and the RBI has released its quick estimates of India's overall balance of payments for the first half of 1994-95 a record achievement, considering the fact that die final estimates of BOP are available only for 1981-82 and the partially revised estimates only up to the quarter ending January-March 199 1.

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