Current Account Deficit

Monday, May 20, 2024 | Last Update : 03:55 AM IST

India is the largest importer of gold, which mainly caters to the demand of the jewellery industry. (Photo: Representational)

Gold imports dip 9 per cent during Apr-Oct

Dip in gold imports has helped in narrowing the country's trade deficit to USD 94.72 billion during Apr-Oct 2019-20.

24 Nov 2019 4:32 PM

Current account deficit forecast pegged at 2.3 per cent of GDP for 2019-20.

India's GDP to grow at 6 per cent in Apr-Jun: survey

The country's economy grew at 8.2 per cent in April-June 2018-19.

26 Aug 2019 3:46 PM

Increase in gold imports pushed the country's trade deficit marginally to USD 45.96 billion during April-June quarter of 2019-20 as against USD 44.94 billion in the same quarter previous fiscal.

Gold imports up 35.5 per cent during Apr-Jun

Gold imports increased by 35.5 pc to USD 11.45 billion (about Rs 80,000 crore) during April-June quarter of current fiscal.

12 Aug 2019 8:29 PM

The CAD, which is the net of foreign exchange inflows and outflows, had stood at USD 48.7 billion in 2017-18.

Economic Survey: Govt may further ease FDI norms to bridge current account deficit

The deficit increased to USD 57.2 billion or 2.1 per cent of gross domestic product (GDP) in 2018-19.

04 Jul 2019 3:02 PM

The CAD, which is the net of foreign exchange inflows and outflows, had stood at USD 48.7 billion in FY18.

Current account deficit inches up to 2.1 pc but more than halves in Q4

Overall trade performance was prime influencer for both contraction in CAD for March quarter as well as a widening for the full year.

28 Jun 2019 6:57 PM

South Korea's trade surplus plunged to $5.67 billion from $9.62 billion a year earlier with the US and China at loggerheads over commerce. Beijing is Seoul's largest trading partner, absorbing a quarter of its exports. (Photo: File)

South Korea records first current account deficit in 7 years

The world's 11th largest economy posted a current account deficit of $660 million in April, figures from the central Bank of Korea showed.

05 Jun 2019 2:49 PM

Prime Minister Narendra Modi. (Photo: PTI)

New govt faces challenges of arresting slowdown, creating jobs: Economists

Economic growth slipped to a five-quarter low of 6.6 per cent in October-December 2018.

24 May 2019 2:19 PM

The imports dipped about 3 per cent in value terms to USD 32.8 billion during 2018-19.

Gold imports rise 54 per cent to USD 3.97 billion in April

After recording a negative growth in imports in February, gold imports started registering double-digit growth.

20 May 2019 3:12 PM

cra said a USD 10 a barrel increase in oil prices will lead to a 0.10 per cent increase in the headline inflation. (Representational Image)

Rising crude prices to adversely impact CAD, rupee, inflation: Report

A 10 pc spike in crude prices can result in a 0.40 pc widening of the CAD and also push up inflation by 0.24 pc.

24 Apr 2019 2:15 PM

RBI to remain watchful on growth, financial stability: Shaktikanta Das

India’s current account deficit is expected to be around 2.5 per cent of GDP in 2018-19.

13 Apr 2019 11:42 AM

The CAD increased to 2.6 per cent of GDP during the April-December 2018 period, from 1.8 per cent in April-December 2017 on the back of widening of the trade deficit.

Current account deficit widens to 2.5 pc of GDP in Q3

The deficit, had moderated to USD 19.1 billion or 2.9 per cent of GDP in the preceding quarter (July-September).

29 Mar 2019 7:10 PM

If the Indian rupee crosses the 74.50 level, then it is very likely that the domestic unit will depreciate further towards the 78 level in 2019.

Rupee likely to depreciate further to 78 per dollar in 2019: report

The CAD for H1 FY18-19 was at USD (-) 34.94 billion, against USD (-) 48.72 billion for the complete FY2017-18.

06 Feb 2019 4:24 PM

Country's exports to China and US are doing well and that the trade issues between the two countries also to some extent contributed to India's cause.

India's exports to surpass USD 314 billion peak this year

Petroleum products, gems and jewellery, leather products and even textiles would be among sectors that contribute to the growth in exports.

04 Feb 2019 4:38 PM

India's trade deficit narrowed more-than-expected to USD 12.96 billion in June, 2017.

Gems & jewellery sector seeks cut in gold import duty to 4 pc

Finance minister Arun Jaitley said the 10 per cent import duty on gold was levied to curb current account deficit (CAD).

29 Jan 2019 3:04 PM

Finance Minister Arun Jaitley. (Photo: ANI)

Govt not seeking RBI reserves to meet fiscal deficit: Jaitley

The RBI was maintaining a reserve of 28 per cent.

31 Dec 2018 5:57 PM

The current account deficit is range-bound at around 2.5 per cent of GDP. (Representational Image)

Market cap, GDP to reach USD 6 trillion in 10 years: Morgan Stanley

India's GDP is up 10-fold and equity market cap is up 22 times in the last 25 years.

01 Nov 2018 10:42 AM

Increase in gold imports pushed the country's trade deficit to USD 94.32 billion in April-September 2018-19.

Gold imports up 4 pc to USD 17.63 billion in Apr-Sep 2018-19

In volume terms, the country imports 800-900 tonnes of gold annually.

19 Oct 2018 11:33 AM

India's current account deficit widened in the four quarters through June 2018 to 1.9 per cent of the GDP.

US says it could remove India from currency monitoring list

Foreign currency reserves stood at USD 380 billion, equal to 3.7 times gross short-term external debt.

18 Oct 2018 9:09 AM

CAD widened to 2.4 per cent of the GDP in the first quarter of 2018-19.

Govt hikes import duty on select 17 items to curb CAD

Falling rupee, market bloodbath force govt to take more measures.

12 Oct 2018 8:58 AM

Sensex in the early trade crashed over 1,000 points, the rupee fell to a record low of 74.45 to a dollar.

Market, rupee slump due to external factors; govt to take action: official

The government will take action at an appropriate time to check widening CAD

11 Oct 2018 3:18 PM

Some more steps likely to narrow current account deficit, says Jaitley

Govt cut borrowing target for the current fiscal by Rs 70,000 cr and allowed oil cos to raise USD 10 bn in one year.

06 Oct 2018 11:17 AM

RBI's study of professional forecasters put the inflation at 4.5 per cent by March quarter

RBI maintains status quo; warns volatile oil prices pose risk to inflation

MPC said that the recent excise duty cuts on petrol and diesel will moderate retail inflation.

05 Oct 2018 4:31 PM

‘High oil prices will put pressure on current account deficit, rupee’

A lot of money used to come into Indian market because the difference between interest rates of India and US market were high, says Sunil Kumar Sinha.

30 Sep 2018 5:58 AM

It will also increase the price of imported as well as domestic ACs and refrigerators as customs duty on compressors has also been hiked. (Photo: File)

Govt raises import duty; ACs, flying to get costlier

The rupee touched an all-time closing low of 72.91 against the dollar on September 12.

27 Sep 2018 1:19 AM

However, before imposing curbs government is analysing how these measure will be challenged in WTO or will these be WTO compliant.

Non-essential imports to be curbed, says Garg

Centre likely to levy higher import duty on steel items.

20 Sep 2018 1:34 AM

Large trade deficit and rupee decline against the US dollar are putting pressure on the CAD.

Govt should focus on boosting exports, import curbs may not help control CAD: FIEO

Trade deficit soared to a near five-year high of USD 18 billion in July, but dipped slightly at USD 17.4 billion in August.

15 Sep 2018 3:49 PM

The government is determined to keep fiscal deficit within the budgeted level of 3.3 per cent of GDP as the country cannot afford to have a twin deficit problem, a top official said.

Govt determined to contain fiscal deficit at 3.3 per cent

The official said a depreciating rupee and high crude import bill would definitely put pressure on the country's current account deficit.

13 Sep 2018 12:49 PM

RBI has been selling dollars to arrest declining rupee, which led to decline in forex reserves from USD 426 billion in April to USD 400.10 billion at the end of August.

FinMin in touch with RBI for market intervention to contain rupee value

Decline of rupee is not secular as the Indian currency has strengthened against British Pound, Euro, Chinese Yuan and Japanese Yen.

11 Sep 2018 9:10 AM

India's current account deficit (CAD) as a percentage of GDP declined marginally to 2.4 per cent in the April-June quarter of 2018-19 against 2.5 per cent in the year-ago period, the RBI data released Friday showed.

Current account deficit eases marginally to 2.4 pc of GDP in Q1 FY2019: RBI

In value terms, the CAD was higher at USD 15.8 billion in April-June this year.

07 Sep 2018 6:15 PM

Credit rating agency Moody's Investors Service on Wednesday said there are risks of India breaching the 3.3 per cent fiscal deficit target for the current financial year as higher oil prices will add to short-term fiscal pressures. (Photo: AFP)

India may breach 3.3 pc fiscal deficit target as oil prices rise: Moody's

Moody's expects the current account deficit to widen to 2.5 per cent of GDP.

29 Aug 2018 2:58 PM

The trade deficit jumped to USD 18 billion in July 2018 on account of lukewarm export performance amidst higher import bill.

Current account deficit to hit 2.8 per cent of GDP in FY19: SBI report

The merchandise trade imbalance is also expected to rise to USD 188 billion in FY19.

27 Aug 2018 3:11 PM

Series of reforms transformed economy: Arun Jaitley

Macroeconomic outlook broadly favorable and growth forecast rising to 7.3 per cent in FY 2018-19.

27 Aug 2018 9:28 AM

Former RBI Governor Raghuram Rajan, (Photo: AP/File)

Rupee has not depreciated to a worrying level, says Rajan

The rupee on August 16 had slumped to a life-time low of 70.32 on strong demand for the US dollar.

25 Aug 2018 10:17 AM

According to it, capital flows to emerging markets (EM) could slow down as European banks retrench lending to EMs amidst heightened risk.

Weaker rupee to hit economic recovery

Likely to drain out liquidity; force RBI to keep interest rates elevated.

15 Aug 2018 4:48 AM

Goods and Services Tax (GST) rollout, growth slowed to 6.7 per cent in fiscal year 2017-18.

IMF forecasts India's GDP to grow at 7.5 per cent in 2019-20

Current account deficit is projected to widen further to 2.6 pc of GDP on rising oil prices and strong demand for imports.

09 Aug 2018 9:29 AM

China, however, saw a goods trade surplus of USD 155.9 billion in H1 2018. (Photo: File)

First time in 20 yrs, China’s imports exceed exports amid trade war with US

China has reported a current account deficit of USD 28.3 billion in the first half of this year.

08 Aug 2018 12:34 PM

India's gold imports fell 40.31 per cent to USD 2.49 billion in March.

Gold imports shrink 40 per cent to USD 2.49 billion in March

Silver imports grew by 31 per cent to USD 267.33 million in March.

13 Apr 2018 6:47 PM

India’s widening current account deficit coupled with normalisation of loose policy in developed nations and soaring crude oil prices may weaken rupee towards Rs 67/$1 in the fiscal years that begun from April 1.

Rupee may hit 67 against dollar in FY2019

Investor sentiment will be cautious, weighing on the local currency, as three major states are going to polls this year.

02 Apr 2018 12:30 PM

The capital and financial account surplus rose to $12.6 billion in the December quarter from $7.3 billion a year ago, bolstered by robust foreign portfolio inflows worth $5.3 billion during this period, the RBI said.

CAD widens on higher imports

Prasanna expects India’s CAD to stand at 2 per cent of GDP in the fiscal year ending in March 2018.

17 Mar 2018 1:41 AM

A Nomura report pegged India's current account deficit (CAD) for this financial year at around USD 40 billion, or 1.5 per cent of GDP.

India's current account deficit to be 1.5 per cent of GDP this fiscal: Nomura

CAD refers to the difference between inflow and outflow of foreign exchange that has a bearing on the exchange rate.

01 Nov 2017 3:56 PM

Government also said it is committed to keeping the fiscal deficit under control but will reassess the 3.2 per cent fiscal deficit target for FY18 in December. (Photo: PTI).

Bank recapitalisation to improve credit, GDP growth: report

Govt's decision to infuse Rs 2.1 trillion of capital in PSBs could improve credit growth by up to 10 percentage point.

25 Oct 2017 6:19 PM

Country's growth is expected to accelerate in the medium-term as temporary disruptions due to demonetisation and GST. (Photo: AFP)

India should prioritise public banking sector reforms: IMF

Current account deficit should remain modest, financed by robust foreign direct investment inflows.

13 Oct 2017 8:30 PM

Finance Minister Arun Jaitley. (Photo: PTI)

Arun Jaitley asks CPSEs to aggressively push capex

While reviewing the capital expenditure plans of important CPSEs, estimated at Rs 3.85 lakh crore.

28 Sep 2017 7:49 PM

Economy on track despite unsupportive global factors: Jaitley

GDP growth rate exports are facing strong headwinds and the industrial expansion is the lowest in five years.

22 Sep 2017 7:47 PM

Prime Minister Narendra Modi will interact with Finance Minister Arun Jaitley and other top officials on Tuesday to take stock of India's economic situation. Photo: PTI

Modi to meet Jaitley, others tomorrow to take stock of slowing economy

Increasing government spending, combined with quickly fixing the problems with GST may feature in tomorrow's deliberations.

18 Sep 2017 7:23 PM

Net portfolio investment also recorded substantial inflow of USD 12.5 billion in April-June quarter.

'CAD likely at 1.5 per cent of GDP in 2017; funding not a constraint'

CAD increased to USD 14.3 billion, or 2.4 per cent of GDP in the April-June quarter of this year.

18 Sep 2017 11:43 AM

In FY17, CAD was at USD 15.2 billion, or 0.7 per cent of GDP.

Current account deficit seen at 1.2-1.3 pc of GDP in FY18: Icra

CAD increased to USD 14.3 billion, or 2.4 per cent of GDP in the first quarter of the current fiscal.

17 Sep 2017 12:34 PM

A higher current account deficit impacts investors sentiment as it drains the country’s foreign reserves.

Current account deficit touches four-year high

Current account deficit means the difference between inflow and outflow of foreign exchange.

16 Sep 2017 7:06 AM

The net foreign direct investment at USD 7.2 billion in the reporting quarter almost doubled from its level in the same period last year.

CAD widens to USD 14.3 billion or 2.4 per cent in Q1 on high trade deficit

Current account deficit also widened from USD 3.4 bn or 0.6 per cent of GDP in fourth quarter of fiscal 2017.

15 Sep 2017 7:03 PM

Current account deficit would widen to USD 11.2 bn for April-June quarter 2017 from USD 3.5 bn in preceding quarter.

CPI inflation seen at 3.2 pc in Aug: Morgan Stanley

Trade deficit is expected to narrow to about USD 10.3 billion in August from USD 11.5 billion in July.

08 Sep 2017 5:34 PM

At present, there is a 10 per cent import duty on gold. (Photo: PTI)

Gold imports jump over 2-fold to $13.35 billion in April-July

Gold imports, which has bearing on CAD, stood at USD 4.97 billion in April-July 2016-17.

15 Aug 2017 11:26 AM

Ceiling on investment will not include the holdings kept as collateral by banks and financial institutions. (Photo: ANI)

Govt hikes gold bond investment limit to 4 kg per fiscal

Target mobilisation under the scheme was Rs 15,000 crore in 2015-16 and Rs 10,000 crore in 2016-17.

27 Jul 2017 9:41 AM

Overall, India's trade deficit narrowed to USD 13 billion in June from USD 13.8 billion in May.

CAD to widen to 1.3 per cent of GDP in 2017: Nomura

Current account deficit soared to USD 3.4 billion of GDP in 4th quarter of 2016-17 from USD 0.3 billion.

18 Jul 2017 1:01 PM

According to RBI current account deficit soared to USD 3.4 billion, or 0.6 per cent of GDP in the fourth quarter of fiscal 2017.

CAD expected to be around 1.4 pc of GDP in 2017: Nomura

For the full fiscal 2017, CAD narrowed to 0.7 per cent of GDP compared to 1.1 per cent in the previous fiscal.

16 Jun 2017 3:52 PM

Import growth rose even faster to 45.3 per cent in March from 21.8 per cent in February.

CAD to widen significantly to 1.6 pc of GDP in 2017

Overall, the trade data suggest that stronger global demand and higher export prices are driving the exports recovery.

17 Apr 2017 11:47 AM

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