Q3 CAD grows to 1.4%, but halves in April-December
PTI The current account deficit (CAD) increased to $7.9 billion, or 1.4 per cent of GDP, in the December quarter due to a fall in services exports, the Reserve Bank said on Thursday. The CAD -- the difference between the value of imports of goods, services and investment incomes, and that of exports -- was $3.4 billion, or 0.6 per cent, in the September quarter and 1.4 per cent in the year-ago period. During April to December, however, the deficit halved to 0.7 per cent, from 1.4 per cent a year ago. This was primarily because of fall in earnings from software, financial services and charges for intellectual property rights. "Despite a slightly lower trade deficit on a year-on-year basis, CAD ...
Indias external debt increased by 6.6% in last fiscal
The Dollar Business Bureau India’s external debt has gone up to $475.8 billion during the last financial year, an increase of 6.6% (29.5 billion) over $446.3 billion since the previous year. The rise was a result of increased commercial borrowings and NRI deposits. According to the Status Report 2014-15 on external debt released by the Ministry of Finance, India’s long-term borrowing from overseas grew at 10.3% to $391.1 billion during 2014-15. The long-term external debt contributed 82.2% of the total foreign debt in FY2015, compared to 79.5% in FY2014. “India’s external debt has remained within manageable limits as indicated by the external debt-GDP ratio of 23.8% during 2014-15. External debt of the country continues to be dominated by the long-term borrowings,” said ...
