The document discusses India's balance of payments and possible measures to correct a balance of payments disequilibrium. It notes that India had a lower balance of payments surplus in the first quarter of fiscal year 2003 compared to the same period the previous year. It also reports that India's trade deficit increased over that period. The document then outlines some automatic and monetary measures that can be used to correct a balance of payments deficit, including devaluation, exchange controls, absorption policies, and using foreign exchange reserves or obtaining external assistance.
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