'Making sure that you're getting enough sleep, that your weight is maintained correctly and you exercise regularly.'
The government's initiative to migrate SEZ data from NSDL software to ICEGATE system for streamlined reporting of import data caused double counting of gold imports, resulting in inflated figures and the issue has now been largely rectified, government sources said. The downward revision has provided the actual picture of trade deficit (difference between imports and exports), which was earlier looking very high. The deficit for November will now be revised downwards from $37.84 billion to about $32.8 billion. Similarly, there will be a revision in overall import numbers as well.
The government has revised gold import data, bringing down numbers for November by $5 billion to $9.84 billion, possibly to rectify double accounting of inbound shipments. According to revised data of the commerce ministry arm Directorate General of Commercial Intelligence and Statistics (DGCIS), gold import numbers have been slashed since April 2024, revealing excess imports of about $11.7 billion during the first eight months of 2024-25.
In a dramatic shift in Canada's foreign policy, Prime Minister Mark Carney on Thursday declared that the long-standing economic and security relationship between Canada and the United States has ended, responding to US President Donald Trump's announcement of new auto tariffs that could severely impact Canada's economy, Politico reported.
If there is a decline in the number of Indian students pursuing higher studies in Canada due to the ongoing diplomatic tensions between the two countries, it may have implications for Indian banks operating in the North American country, senior bank officials said.
The Budget should undertake further reductions in import tariffs and seriously consider an announcement of India's intention to join one or both of the two Asian mega-regional free trade agreements, suggests Shankar Acharya, former chief economic adviser to the Government of India.
Research and ratings agencies like Icra and Moody's have said the CAD in 2018-19 would be much higher than 2017-18
The gold and currency had arrived on an Air Canada flight from Zurich, Switzerland, to Pearson International Airport in Toronto.
Nadaaniyan's lack of charm, chemistry and cheek fails to create any ripples sighs Sukanya Verma.
The deficit increased to $ 57.2 billion or 2.1 per cent of gross domestic product (GDP) in 2018-19 as against 1.8 per cent in the previous year.
India's widening current account deficit (CAD), driven by the massive spike in commodity prices led by crude oil, is set to put pressure on the fragile recovery, warns a brokerage report that has revised upwards its CAD forecast to $45 billion or 1.4 per cent of GDP by March. According to a report by British brokerage Barclays, the worries arise from the fact that the trade deficit has been jumping continuously since July. From an average monthly trade deficit of $12 billion till June, it has jumped to $16.8 billion in July-October, with September showing the highest-ever trade deficit on record at $22.6 billion, the report said.
Reserve Bank Governor Raghuram Rajan on Tuesday said the government's target of reducing the current account deficit (CAD) to $70 billion or 3.7 per cent of the GDP in 2013-14 is "imminently reachable".
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India's CAD -- the gap between inflow and outgo of foreign exchange -- widened to a record high of $88 billion or 4.8 per cent of the gross domestic product for the fiscal ended March 31, from $78.2 billion in 2011-2012, about 4.2 per cent of the Gross Domestic Product.
CAD refers to the difference between inflow and outflow of foreign exchange that has a bearing on exchange rate.
CAD, which is the difference between outflow and inflow of foreign currency, touched a historic high of 6.7 per cent in the third quarter.
'Thirty per cent of the world's deaths in young people, due to heart disease, are encountered by people in India.'
The Prime Ministry's Economic Advisory Council Chairman also said fiscal deficit is a concern too and suggested raising domestic oil prices to restrict it to the budget target of 4.8 per cent of the gross domestic product in this fiscal.
The government would also take steps to promote exports and restrict non-essential imports, said Jaitley
Finance Minister P Chidambaram on said that financing current account deficit (CAD) year after year is a challenge and the only way to deal with the problem is by increasing exports.
India's net oil import bill could widen to $101-104 billion in current fiscal from $96.1 billion in 2023-24 and any escalation in the Iran-Israel conflict could impart an upward pressure on the value of imports, ICRA said on Tuesday. The domestic rating agency said based on its analysis, lower value of Russian oil imports is estimated to have led to savings of $7.9 billion in 11 months (April-February) of 2023-24, up from $5.1 billion in 2022-23.
India's balance of payments in negative territory.
Leading brokerages Nomura and Barclays on said current account deficit, which unexpectedly improved to 4.8 per cent in 2012-13, but still at a historic high, could moderate further this fiscal on slowing gold imports and cheaper commodities.
When the outflows are more than the inflows, a deficit occurs in the current account of the nation, which is widely known as the Current Account Deficit.
Gold imports had totalled 335.1 tonne in the April-June quarter, but have declined to 58.37 in the second quarter (up to September 25).
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As per the latest data, India's CAD sharply narrowed to 1.7 per cent of the gross domestic product or $32.4 billion in 2013-14 from a record high of 4.7 per cent in FY'13.
Moody's assigns 'Baa3' rating on India, with a stable outlook.
The country's current account deficit is likely to decline to 1.1-1.2 per cent of the gross domestic product in the third quarter, say rating agencies.
The RBI left key policy rates unchanged and cut the GDP growth estimate for this fiscal to 5.5 per cent from 5.7 per cent.
The central bank is of the view that rise in external debt a concern but rating outlook revision reassuring.
The current account deficit is the difference between inflow and outflow of foreign exchange.
Gold imports, which peaked at 162 tonnes in May, came down to 19.3 tonnes in November.
Expressing serious concerns over the current account deficit touching a record 4.8 per cent in 2012-13, India Inc on Thursday asked the government to take all policy measures, including boosting exports and foreign exchange inflows to bring down CAD.
The government has hiked import duty on gold three times in a year and recently raised it by 2 per cent to 8 per cent to curb demand.
The government is committed to restrict the fiscal deficit at 3.4 per cent of GDP as envisaged in the Budget.
According to SBI Ecowrap, every $10/barrel increase in oil price results in additional import bill of $8 billion.
Exports increased by 10.6 per cent in the first quarter of 2014-15 to $81.7 billion. Imports moderated by 6.5 per cent to $116.4 billion. The CAD, which is the difference between the inflow and outflow of foreign currency, had touched a record high of $ 87.8 billion (4.8 per cent) in 2012-13 fiscal mainly on account of steep increase in gold imports.
Fiscal deficit in first half of FY19 has already reached 95.3 per cent of full-year budget estimates.
He said while bringing in investments, it is also necessary to manage the high current account deficit.
Gold imports more than doubled in August to a record high of $10.06 billion, mainly on account of a drastic cut in customs duty and ongoing festive demand, according to the Commerce Ministry data. Gold imports stood at $4.93 billion in August 2023. On record high imports, Commerce Secretary Sunil Barthwal said that the tariff rates on gold have been reduced drastically so that smuggling and other activities can come down.
Rajan says, this is a time where countries should be focusing on getting the macro stability in order
