A Review of India's Balance of Payments:1985-86 to 1993-94

The Journal of the Indian School of Political Economy has published in its July-December 1989 issue a Paper, titled 'India's Balance of Payments-1948-49 to 1984-85:A Survey'. This Paper is an update of the same. The period reviewed is significant because of the balance of payments crisis in 1991 and important external and internal policy changes. It discusses the genesis and nature of the crisis in 1991, the adjustment made by the economy to it and the effects of such adjustment and of the consequent policy changes on various components of the balance of payments in the post-liberalisation period.