Current Acccount Deficit

Lower trade deficit was one of the prime reasons for the improvement in the current account balances both for the March quarter as well as for the whole fiscal year.

India's current account deficit (CAD) narrowed further in the final quarter of 2019 on the back of a contraction in the trade deficit and rise in net services receipts, the central bank said on Thursday. The CAD also declined to 0.2 per centof gross domestic product in the third quarter of the fiscal year ending this month from 2.7 per centin the y...

In the financial account, net foreign direct investment (FDI) at $6.4 billion in Q4 of 2017-18 was higher than $5 billion in Q4 of 2016-17.

India imported 124.6 million tonnes of crude oil and petroleum products in April-September for $43.5 billion.

Buoyed by sharp fall in gold prices globally, the country is likely to see a jump of 11 per cent in imports of the metal to 1,000 tonnes this year, says a trade body.

October shipments into India, the world's No.2 gold consumer after China, jumped to about 150 tonnes, compared with under 25 tonnes a year earlier and 143 tonnes in September, a third source, a top finance ministry official, said on Thursday.

Finance Minister P Chidambaram recently said the CAD was brought down significantly to $32 billion in 2013-14 as against $88 billion during 2012-13 and fiscal deficit contained within the target in the last fiscal.

Imports of the precious metals during April-February declined 41.47 per cent to $30.7 billion from $52.4 billion a year earlier.

The country ended FY13 with an all-time high current account deficit of 4.8 per cent of GDP, which is slated to have improved significantly to 3.05 per cent in the first half of the current fiscal and may even be lower for full fiscal.

Faced with high premiums to secure scarce supplies of gold, relatives and guests at Indian weddings are having their old heirlooms melted down to be reused as traditional presents.

Lower trade deficit was one of the prime reasons for the improvement in the current account balances both for the March quarter as well as for the whole fiscal year.

India's current account deficit (CAD) narrowed further in the final quarter of 2019 on the back of a contraction in the trade deficit and rise in net services receipts, the central bank said on Thursday. The CAD also declined to 0.2 per centof gross domestic product in the third quarter of the fiscal year ending this month from 2.7 per centin the y...

In the financial account, net foreign direct investment (FDI) at $6.4 billion in Q4 of 2017-18 was higher than $5 billion in Q4 of 2016-17.

India imported 124.6 million tonnes of crude oil and petroleum products in April-September for $43.5 billion.

Buoyed by sharp fall in gold prices globally, the country is likely to see a jump of 11 per cent in imports of the metal to 1,000 tonnes this year, says a trade body.

October shipments into India, the world's No.2 gold consumer after China, jumped to about 150 tonnes, compared with under 25 tonnes a year earlier and 143 tonnes in September, a third source, a top finance ministry official, said on Thursday.

Finance Minister P Chidambaram recently said the CAD was brought down significantly to $32 billion in 2013-14 as against $88 billion during 2012-13 and fiscal deficit contained within the target in the last fiscal.

Imports of the precious metals during April-February declined 41.47 per cent to $30.7 billion from $52.4 billion a year earlier.

The country ended FY13 with an all-time high current account deficit of 4.8 per cent of GDP, which is slated to have improved significantly to 3.05 per cent in the first half of the current fiscal and may even be lower for full fiscal.

Faced with high premiums to secure scarce supplies of gold, relatives and guests at Indian weddings are having their old heirlooms melted down to be reused as traditional presents.