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#BustingMyths #ForexReserves #Modinomics #MUSTREAD
Judging a Country based on its #ForexReserves is like Judging a Persons Networth based on his #SavingAccount balance & not his #LoanAccount balance.
Judge #Modinomics on #NIIP (-ve $390bn)
And Not on FX Reserves (+ve $506bn)
Judging a Country based on its #ForexReserves is like Judging a Persons Networth based on his #SavingAccount balance & not his #LoanAccount balance.
Judge #Modinomics on #NIIP (-ve $390bn)
And Not on FX Reserves (+ve $506bn)
So what is #NIIP or Net International Investment Position. Let me quote @FinMinIndia Economic Survey
NIIP is the difference b/w an Economy’s External financial Assets & Liabilities.
If Economy = Person, NIIP is Assets (Property, Deposits, Investments) less Liabilities (Loans)
NIIP is the difference b/w an Economy’s External financial Assets & Liabilities.
If Economy = Person, NIIP is Assets (Property, Deposits, Investments) less Liabilities (Loans)
As per FY23 Economic Survey released by @FinMinIndia before budget, India's overseas financial ASSETS at US$ 847.5bn but India's International LIABILITIES was higher at US$ 1,237.1Bn
Assets ($847.5) LESS Liabilities ($1237.1Bn) = NEGATIVE $389.6Bn
STOP LOOKING AT FX RESERVES
Assets ($847.5) LESS Liabilities ($1237.1Bn) = NEGATIVE $389.6Bn
STOP LOOKING AT FX RESERVES
