The balance of payments is an accounting system that records a country's economic transactions with the rest of the world. It includes imports/exports of goods/services and capital inflows/outflows. The Reserve Bank of India compiles India's balance of payments on a quarterly basis using data from banks, government agencies, and surveys. India's balance of payments comprises a current account for trade in goods/services, a capital account for investment flows, and an official reserves account. While India's current account deficit declined in the first quarter of 2013, it rose as a percentage of GDP due to falling exports and a depreciating rupee. India's balance of payments position is weak due to low foreign exchange reserves and upcoming debt