relationshipbetween bop and national economy
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There is a complete and consistent relationship between National economy and Balance of Payments (BOP). This is because BOP, along with International investment positions form as important and integral part of the National Accounts. ... They invoke identical concepts of economic territory and economic interest.
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The economy of India is characterised as a developing market economy. It is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP). According to the IMF, on a per capita income basis, India ranked 142nd by GDP (nominal) and 119th by GDP (PPP) per capita in 2018.
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