Current account deficit narrows to $8
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3/11/2015 Cu r r ent ac count defic it narro ws to $8.2 billion in Oc tober - D ec em ber - T he H i ndu ht tp :/ /www.t he hindu.com/todays-paper/tp-busine ss/ cu rren t-a cco un t-d ef icit-n arrows-to-82-billion-in-octoberdecember/ art icle 69 79 86 9. ec e 1/1 oday's Paper » BUSINESS Current account deficit narrows to $8.2 billion in October-December Puja Mehra India’s current account deficit (CAD) narrowed to $8.2 billion, which is 1.6 per cent of GDP, during October-December 2014, compared to $10.1 billion (2 per cent of GDP) in the previous three months. It, however, doubled compared to $4.2 billion or 0.9 per cent of GDP a year earlier, the Reserve Bank said on Tuesday. On the balance of payments basis there was a surplus of $13.2 billion in foreign exchange reserves during October- December 2014 — the fifth consecutive quarter of surplus. It was also almost double the $6.9 billion surplus in the revious quarter. Remittances from Indians employed overseas of $17.5 billion continued to support the BoP. The trade deficit during he three months widened slightly to $39.2 billion from $38.6 billion a quarter ago. he CAD reduction was primarily on a pick-up in net exports of travel and software services and due to lower net utflows under primary income (repatriation of profits, dividends and interest payments). For the nine month period, pril-December 2014, the CAD shrank to $26.2 billion (1.7 per cent of GDP) from $31.1 billion (2.3 per cent of GDP) in he same period in the previous year. On year-on-year basis the current account deficit doubles
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Transcript of Current account deficit narrows to $8
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3/11/2015 Currentaccountdeficitnarrowsto$8.2billioninOctoberDecemberTheHindu
http://www.thehindu.com/todayspaper/tpbusiness/currentaccountdeficitnarrowsto82billioninoctoberdecember/article6979869.ece 1/1
Today'sPaperBUSINESS
Currentaccountdeficitnarrowsto$8.2billioninOctoberDecember
PujaMehraIndiascurrentaccountdeficit(CAD)narrowedto$8.2billion,whichis1.6percentofGDP,duringOctoberDecember2014,comparedto$10.1billion(2percentofGDP)inthepreviousthreemonths.It,however,doubledcomparedto$4.2billionor0.9percentofGDPayearearlier,theReserveBanksaidonTuesday.Onthebalanceofpaymentsbasistherewasasurplusof$13.2billioninforeignexchangereservesduringOctoberDecember2014thefifthconsecutivequarterofsurplus.Itwasalsoalmostdoublethe$6.9billionsurplusinthepreviousquarter.RemittancesfromIndiansemployedoverseasof$17.5billioncontinuedtosupporttheBoP.Thetradedeficitduringthethreemonthswidenedslightlyto$39.2billionfrom$38.6billionaquarterago.TheCADreductionwasprimarilyonapickupinnetexportsoftravelandsoftwareservicesandduetolowernetoutflowsunderprimaryincome(repatriationofprofits,dividendsandinterestpayments).Fortheninemonthperiod,AprilDecember2014,theCADshrankto$26.2billion(1.7percentofGDP)from$31.1billion(2.3percentofGDP)inthesameperiodinthepreviousyear.Onyearonyearbasisthecurrentaccountdeficitdoubles
