• NITHIN NINAN THOMAS
• SOUMIA SAJAN
• Dr.POOJA JAIN

India is a developing nation where imports are much higher than export. There are many reasons for the deficit balance of payment. In this study we focused on two important components which affects India’s Balance of Payment, that is, interest rate and crude oil price. India is one of the largest importers of crude oil in the world. This study focus on the impact of crude oil price fluctuations and interest rate on the Balance of Payment of India. For the study Crude oil price per barrel and Current account and Capital account balance for period ranging from 2005 to 2018 was collected. The data was collected from RBI website and OPEC website. Regression analysis and ANOVA was done on the data using SPSS software. The results indicated that crude oil price fluctuation significantly impacts current account of balance of payment while capital account remains unaffected by crude oil price fluctuation

Oil price, Balance of Payment, Interest rate, Current account, Capital account

"THE IMPACT OF CRUDE OIL PRICE FLUCTUATIONS AND INTEREST RATE ON BALANCE OF PAYMENT OF INDIA", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.8, Issue 1, page no.204-211, January-2021, Available :http://www.jetir.org/papers/JETIR2101230.pdf

"THE IMPACT OF CRUDE OIL PRICE FLUCTUATIONS AND INTEREST RATE ON BALANCE OF PAYMENT OF INDIA", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.8, Issue 1, page no. pp204-211, January-2021, Available at : http://www.jetir.org/papers/JETIR2101230.pdf