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A Period of Transition and Improvement:
These few years stand out as the golden years for India's BOP. India had a small current account surplus (0.6 per cent of the GDP on an average) and foreign exchange reserves equivalent to about seven months' imports. Export growth was good but the primary reason for the sharp improvement in BOP was the dramatic improvement in net invisibles. Net invisibles increased from Rs. 193 crores in 1974-75 to Rs. 2,486 crores in 1979-80.
Use of Resources - INTERNATIONAL MONETARY FUND: IMF provides temporary assistance to member-countries to tide over balance of payments deficits. When the country requires fore
what is the homogeinity of demand function wrt prices and income
Micro economics is the study of individual unit of an economy
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