Indias CAD drops to $0.3 bn in Q4
The Dollar Business Bureau Due to low trade gap, India’s Current Account Deficit declined to $0.3 billion in fourth quarter of FY16 from $7.1 billion registered in third quarter of the same fiscal. CAD is the difference between the outflow and the inflow of foreign exchange. The GDP for the fourth quarter accounted for 0.1% as against 1.3% recorded in third quarter. For the financial year 2016, CAD shrunk by 1.1% of the GDP. The Reserve Bank of India, on Friday, stated that the decline to $0.3 billion, with GDP at 0.1%, was marginally lower than $0.7 billion, or 0.1% GDP, recorded in FY15. The reduction of CAD in Q4 of FY16 was mainly due to low trade defcit, which accounted for $24.8 billion ...
India projected to be fastest growing economy over next 10 yrs
Source: PTI India will continue to be the fastest growing economy in the world in 2016 and 2017, projected to grow by 7.3% next year and 7.5% the year India, with a projected annual growth rate of 7%, has the potential to be the world's fastest growing economy over the coming decade, surging ahead of its South Asian economic rival China that will continue to see a slowdown, Harvard researchers said in new forecast. "India has the potential to be the fastest growing economy over the coming decade... India tops the global list for predicted annual growth rate for the coming decade, at 7.0%," new growth projections presented by researchers at the Centre for International Development (CID) at Harvard University showed. ...
