THE ECONOMY- India s Balance of Payments, 1983-84

THE ECONOMY India's Balance of Payments, 1983-84 S Kumarasundaram THE ECONOMIC SURVEY of the Government of India for 1983-84 and the Budget Speech of the Finance Minister both make significant claims about the turn-round in the country's balance of payments. The Economic Survey is replete with these references, taking pains to emphasise that the government's management of the policy measures in this sphere has paid dividends in 1983-84, The decision to surrender nearly SDR 1.1 billion of the International Monetary Fund (IMF) facility has been held out as a confirmation of the results obtained.