ISAS Briefs

The Reserve Bank of India (RBI) released India’s latest balance of payment (BOP) estimates on 31 December 2008. The estimates are for the first six months of the financial year 2008-09 (that is, April-September 2008). It is evident that India’s BOP has undergone some significant structural changes in the current year. Most of these changes are attributable to the global financial crisis. If the changes deepen further during the rest of the year, then India’s BOP and external sector are likely to look much different from what they did in recent past.