PART 8 |Unit 18 | general provisions of Exim policy |BOP & EXIM Policy |MCO 4 MCOM 2nd year IGNOU

In this unit, we are going to study about balance of payment and EXIM policy. Foreign trade is very important for accelerating economic development in our country. It helps in the flow of capital and technology and enhancing the competitiveness of the firm. India’s exports and imports have witnessed a poor trend, but the trade balance has been negative due to the faster growth and import. Several measures have been initiated by government of India for promotion of export. The study of balance of payment is very important for policymakers and business communities for analysing the financial health of the country. Several measures have been adopted to improve balance of payment in India. They include exchange rate, adjustment, fiscal and monetary measures, structural, reform and mobilisation of finance from multilateral agency. Foreign exchange management act has been replaced by the foreign exchange management act, 1999. In this the major provisions of regulation of foreign exchange, role of authorised person, contravention and penalities.

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