Economic Survey Underlines Significant Improvement in BoP Position

• The India’s balance-of-payments position improved dramatically in 2013-14 with current account deficit (CAD) at US $ 32.4 billion (1.7% of GDP) as against US $ 88.2 billion (4.7% of GDP) in 2012-13.

• The annual average exchange rate of the Rupee went up from 47.92 per US dollar in 2011-12 to ₹ 54.41 per US dollar in 2012-13 and further to ₹ 60.50 per US dollar in 2013-14.

• India’s foreign exchange reserves increased from US $ 292.0 billion at end March 2013 to US $ 304.2 billion at end March, 2014.