Diabytes
India CAD News
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India's CAD widens in July-September: RBI report.
The reason attributes to high commodity prices and weak rupee.
It reaches 9-year high.
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India's current account deficit widens to $23.9 billion by 2.8% in April-June period.
The RBI on Thursday released the preliminary data on India`s balance of payments (BoP) for Q1.
Services exports grew y-o-y by 35.4%, led by broad-based growth in computer, business, etc.
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The enhanced duty rates on imported items including jet fuel and air conditioners, kicked in from September 27.
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The sharp surge in imports in July this year had led to worsening of India's trade deficit to 5-year high of USD 18.02 billion.
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With rising oil prices, depreciating rupee and outflow of portfolio investments, there are concerns that CAD might rise in the current fiscal.
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Current Account Deficit rose at 2.0% of GDP in Q3 FY 2018.
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Increasing government spending, particularly on infrastructure, combined with quickly fixing the problems with GST may feature in tomorrow's deliberations.
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Indian economy will grow by 7.1 percent in current fiscal, 7.7 percent in 2017-18, rating agency Fitch said on Tuesday.
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India's current account deficit is likely to stay below 1 percent of GDP this year, largely due to a sharp fall in the trade deficit as against last year, says a DBS research report.
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India is likely to post its first current account surplus in nine years in the latest quarter, which should bolster the rupee though it is not a good sign for the economy as it reflects weak investment demand at home and subdued exports
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The agency said it expects the growth rate for last quarter of 2015-16 at 7.4 percent, which translates into the 2015-16 GDP growth of 7.5 percent.
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According to experts, a CAD up to 2.5 percent of GDP can be financed with the current level of foreign fund inflows and remittances.
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Gold imports shrank 36.5 percent to USD 3.53 billion in November on the back of falling prices of the yellow metal, something that will keep the country's current account deficit (CAD) in check.
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RBI Deputy Governor Urjit Patel on Thursday said the central bank expects Current Account Deficit (CAD) around 1.5 percent of GDP in the current fiscal.
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The Finance Ministry on Wednesday said a steady 37 percent growth in indirect tax collections in four months to July reflects that underlying momentum in the economy is improving.
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The Reserve Bank of India is "reasonably comfortable" with the current account deficit because of lower oil prices, deputy governor H. R. Khan said.
Net FDI inflows into India totalled USD 14.1 billion in the first five months of 2014-15.
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