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

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Price Factor in India s Trade

Malati Anagol India's Balance of Payments by G C da Costa; Himalaya Publishing House G C DA COSTA's book on India's balance of payments could not have been at a more timely juncture than this when India is facing one of the worst balance of payments scenarios. The Seventh Plan has ended with an average trade deficit more than twice as large as that reached in the Sixth Plan. The commencement of the Eighth Plan is unmistakably facing an ominous prospect of increasingly unviable balance of payments brought on by simultaneous worsening of domestic and international environment- rising international prices of oil, shortages of essential commodities such as sugar and edible oil at home necessitating large imports, mounting debt service charges, deteriorating credit rating of the country, drying up of NRI inward remittances and deposits, less than optimistic outlook for exports with slowdown in growth in industrial countries and rising inflation at home, da Costa analyses and unravels the factors that determined the course of India's balance of payments during the period 1970-71 to 1986-87 and makes observations, draws conclusions and recommends policy prescriptions based on his statistical analysis to tackle India's deepening balance of payments problem. It is interesting to note that the period covered by the study encompasses the decades of 1970s and 1980s
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