While studying for Economy, you will come across crucial topics such as Balance of Payment, Payment and its type, etc that should be studied carefully during the UPSC exam preparation.

In this series of our UPSC Treasures, we will have a quick look at the Balance of Payment and its important points.

Balance of Payment is a record of the transactions in goods, services and assets between residents of a country with the rest of the world for a specified time period typically a year. There are two main accounts maintained under BoP which are the Current account and the Capital account.

Enhance your UPSC Economy preparation with this video on The Basic Questions Faced by Every Economy by Vivek Singh Sir, our DREAM TEAM faculty for Economy:

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