Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
03 July, 2015 13:23 IST
India`s current account likely to remain under pressure: CRISIL
Source: IRIS | 03 Jan, 2013, 09.37AM
Comments  |  Post Comment

``India's current account deficit (CAD) swelled to USD 22.4 billion (5.4% of GDP) in Q2FY13 from USD 16.6 billion (3.9% of GDP) in Q1FY13 as merchandise exports growth fell more sharply than imports in Q2FY13. A high import bill on account of gold and oil import and falling exports due to global slowdown has lately kept India's CAD at consistently high levels. Within invisibles, however, all major services posted a y-o-y increase in Q2FY13. Despite a surge in the foreign direct investment (FDI) and portfolio investment under the financial account, the foreign exchange reserves (excluding the valuation effect) declined by USD 0.2 billion in Q2FY13 due to the high CAD.``

``Going forward, although we expect some recovery in export growth due to improvement in global conditions, India's current account is likely to remain under pressure due to the composition of its import basket which is largely dictated by its energy needs as well as a whole range of capital goods and manufactured intermediates/components,`` said CRISIL Research, in a report.

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.

Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Related Articles
BHEL successfully achieves renovation, modernisation and uprating of 110 MW Unit - 03-Jul-2015 12:38
Persistent Systems acquires 100% stock of RGEN Solutions - 03-Jul-2015 12:05
L&T builds India's first 700mwe PHWR Nuclear Steam Generator - 03-Jul-2015 11:02
MCX inks MoU with Christ University - 03-Jul-2015 10:58
Infosys invests in Ireland following strategic partnership with AIB - 03-Jul-2015 10:55
ABB board approves to raise Rs 6 bn via NCDs - 03-Jul-2015 09:47
Spice Mobility arm acquires 26% stake in Creative Functionapps - 03-Jul-2015 09:12
JetPrivilege inks frequent flyer partnership with Etihad Regional - 03-Jul-2015 09:09
Lupin Acquires Biocom in Russia - 02-Jul-2015 18:39
FreshFood brews tech-revamp with Ramco ERP - 02-Jul-2015 17:42
Rajesh Exports to spend upto USD 500 mn for acquisition in Europe - 02-Jul-2015 16:36
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer