India’s current account deficit (CAD) rose sharply to $9.2 billion in the first quarter (April-June) of this year from $1.3 billion in the preceding, January-March, quarter. However, on a year-on-year basis, there was some good news, as it represented a fall from the $17.9 billion seen in the same quarter last year, according to data […]
India Ratings, a unit of Fitch Group, has predicted that India’s GDP growth will not return to the 6% or 7% rate in the next financial year due to structural problems, but will show a slight improvement over the current year. The current year, which will end on March 31, is likely to see a […]
India’s finance minister Piyush Goel has blamed international factors for the current decline in the rupee’s value against the dollar, and said India’s financial situation is much improved from the UPA days. “All our macro economic indicators are strong,” Goyal said. “But on the international scene, there have been announcements on oil and on Iran, […]
India’s comerce and industry minister Suresh Prabhu and his deputy will announce a ‘revised’ foreign trade policy for the country at 4 PM today, the government said. The current Foreign Trade Policy, which sets long-term targets for exports growth, trade gap and so on, was announced in 2015 and aimed to take India’s exports from […]
The amount realised through the 5th Tranche of Sovereign Gold Bond (SGB) Scheme, is expected to cross Rs. 820 crore, the ministry of finance said. This was mobilised through over 2.00 lakh applications representing around 2.37 tonnes of gold. “These numbers are likely to go-up further as the receiving offices are still in the process […]
The Indian government’s poor financial condition is the weakest aspect of India’s credit profile, international ratings agency Moody’s has said, adding that state-owned banks’ poor assets are another area of concern. On the other hand, strong private savings and growth are positive aspects to the Indian economy, Moody’s added. “Government finances are the weakest aspect […]
All India Gems and Jewellery Federation (GJF), the largest single trade body in India for the promotion and growth of trade in gems and jewellery across India, has urged the Union Finance Minister Arun Jaitley to avoid re-imposing curbs on gold imports as it could spell doom for the gems and jewellery sector. The GJF […]
Crisil Research has cut its forecast for current account deficit this financial year to $32 bln, or 1.55 of GDP, from $47 bln, or 2.2% of GDP, due to the sudden fall in oil prices. A country’s dealings with the rest of the world is divided into the current account and the capital account. Current […]
