What is Balance of payments (BoP)? Even though the reform process has strengthened resilience of India’s BoP, at the same time vulnerabilities arise with greater exposure of the economy to the rest of world through liberalised trade and investment environment. Analyse. (250 words, 15 marks)

19. What is Balance of payments (BoP)? Even though the reform process has strengthened resilience of India’s BoP, at the same time vulnerabilities arise with greater exposure of the economy to the rest of world through liberalised trade and investment environment. Analyse. (250 words, 15 marks)