In the present article an attempt has been made to explore the congruency between 1991’s and current BoP crises and also to compare the ameliorating efforts to overcome. Although the emphasis is on the indigenous state however, scope has been extended to global extent. Indian economy happens to be otherwise vulnerable to crisis though not slipped down to recession. It is observed that the present outcome is the end result of a mix of symptoms – quite different from earlier one. Should a time interval of two decades is long enough to test the buoyancy of measures adopted in 1990’s – mainly the LPG (the choomantra) thought to be solving the problem however, Indian economy reluctantly accepted under the duress of International Financial Agencies to overcome financial payments defaults.