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
18 December, 2014 18:55 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
Logistics companies to be biggest beneficiaries of GST: Allcargo Logistics - 18-Dec-2014 16:40
IVRCL inks pact with Utico FZC to sell equity stake in its arm - 18-Dec-2014 15:46
Indusind Bank allots 51,947 shares under ESOS - 18-Dec-2014 15:25
Snapdeal ties up with Hero MotoCorp - 18-Dec-2014 13:46
Zicom launches `Ziman` new mobile application - 18-Dec-2014 13:37
Nomura cuts target on RIL; maintains `Buy` - 18-Dec-2014 12:35
Emkay maintains `Buy` on Ashoka Buildcon - 18-Dec-2014 12:17
RPP Infra Projects bags new contract worth Rs 495.46 mn - 18-Dec-2014 11:55
Nomura reiterates Buy on GAIL; sees 24% potential upside - 18-Dec-2014 11:42
Transformers and Rectifiers in alliance with Fuji Electrical - 18-Dec-2014 10:48
Wipro allots 44,539 equity shares - 18-Dec-2014 10:24
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