For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    India's Q4 2013 current account deficit at 3.6% of GDP

    |
    India's Q4 2013 current account deficit at 3.6% of GDP
    India's current account deficit for the March quarter was placed at $18.1 billion, or 3.6 percent of GDP, lower than expected and below the $21.7 billion deficit a year earlier, according to a release from the Reserve Bank of India.
     

    Analysts had expected the current account deficit to come in at around 4.2 per cent. However, the lower then expected CAD failed to bring respite to the falling rupee, which gained only 28 paise in early trade.
    India's external debt, as at end-March 2013, was placed at US$ 390.0 billion showing an increase of US$ 44.6 billion or 12.9 per cent over the level at end-March 2012. The increase in total external debt during financial year 2012-13 was primarily on account of rise in short-term trade credit. There has been sizeable rise in external commercial borrowings (ECBs) and rupee denominated Non-resident Indian deposits as well.

    "The high current account deficit witnessed during 2012-13 and it's financing increasingly through debt flows particularly by trade credit resulted in significant rise in India's external debt during 2012-13. However, magnitude of increase in external debt was offset to some extent due to valuation change (gain) resulting from appreciation of US dollar against Indian rupee and other international currencies," the RBI has stated in a release.

    GoodReturns.in

    Read more about: current account deficit gdp
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more