Compilation of national income aggregates: some issues in relation to balance of payments statistics in India

The paper discusses the underlying issues related to the compilation of BoP statistics in India, especially on the Current Account statistics following the changes made in BPM6 and SNA2008. Besides discussing the issues of classification of international transactions as per BPM6, the paper examines the linkages of BoP with SNA and attempts to explore the relationship between the Gross Domestic Capital Formation (GDCF) and Gross Domestic Saving (GDS) through the Time Varying Parameter Approach.