A long term solution to reduce India's Current Account Deficit will be to increase India's share of global merchandise exports, so that we are able use our exports to fund our imports, points out Chidambaran G Iyer, Senior Fellow, Pahle India Foundation.
These imports grew 89 per cent to $8.39 billion in May.
Reserve Bank of India (RBI) Governor D Subbarao, often criticised for being "behind the curve", took market players and his critics by surprise.
The rating agency official did raise concern about the banks' non-performing assets.
This April Fool's Day, Sukanya Verma kickstarts the month on a light note with this list of Bollywood's most memorable pranks.
The benchmark Indian crude oil basket is now estimated to average $77.88 a barrel for FY19, compared to the government's earlier estimate of $65 a barrel for the year and $56.39 for FY18
Any revision in gold import duty is unlikely to take place before the Budget, says finance ministry official.
Government unveiled the much-awaited FTP for 2015-20 on April 1, 2015.
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Exports picked up to post a growth of nearly 13 per cent.
'Curbs will again lead to the grey market developing, undoing all the work done over the last two-and-a-half years.'
The 30-share Sensex was up 137 points at 19,517 and the 50-share Nifty was up 45 points at 5,780.
Chidambaram said there was no tension between the finance ministry and the Reserve Bank of India.
On Friday, the euro weakened to a near 14-month-low against the dollar, after the European Central Bank announced a fresh round of stimulus and promised more if required.
A design firm in Dubai is recruiting various designer profiles.
ATCO's subsidiary, ATCO I-Tek, will become a part of Wipro after the closure of the deal, which is expected to be completed in this quarter.
Moody's said India's current account deficit (CAD) has narrowed significantly from 4.8 per cent in 2012 to 1.4 per cent in 2014.
If inflows continue, some experts see rupee touching 55 to the dollar, in the near term.
The intensity of fire and explosions at central ammunition depot at Pulgaon in Wardha district was such that seven of the victims were blown to pieces, a top police official said.
The GDP growth for 2014-15 is pegged at 5.4 to 5.9 per cent: Economic Survey
Soon after taking over as RBI Governor on September 4, Raghuram Rajan had announced opening of a swap window facility to encourage banks to lure NRI funds.
However, some experts, including RBI Governor Raghuram Rajan, have favoured doing away with curbs on gold imports because they lead to smuggling.
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The economy grew at a four year low of 4.4 per cent in the April-June quarter of current year.
He said gold imports in October rose slightly to 23.5 tonnes.
Gold imports fell to 19.3 tonnes in November from a high of 162 tonnes in May in the wake of a series of curbs by both the government and the Reserve Bank of India.
The Prime Minister's Economic Advisory Council Chief further said that 'inflation is showing signs of coming down and therefore attraction of financial products will be greater'.
Rapid depreciation of the rupee put us in a vicious spiral: D Subbarao
'The rupee falling from 69 to 72 was not normal or justified by the fundamentals.' 'And therefore I treat this as temporary.'
Ahead of the Budget, Finance Minister Arun Jaitley on Tuesday underlined the need for tax reforms and quick decision making to ensure stability in policy regime.
HDFC Bank, ICICI Bank, HDFC and SBI contributed the most to the gains in the Sensex up between 2-3% each.
The prime minister made a reference to orderly exit from unconventional monetary policies in the backdrop of splits between emerging markets and the US.
Mass downgrades of GDP projections make it likely that there will be another wave of FII selling fairly soon
The five policy missteps that have led India to economic crisis.
The CAD in 2012-13 was at 4.7 per cent of GDP and in 2013-14 it will only 1.7 per cent, the Finance Minister said.
India's current account deficit is narrower than expected at $21.8 billion, or 4.9 per cent of gross domestic product, in the June quarter.
Mayaram also said as of now, a shutdown of the US government is not likely to have a major impact on the Indian economy.
Rising CAD, low growth & inflation may spark off an economic crisis in India.
BSE Oil & Gas, Healthcare and IT indices have surged by 3% each followed by counters like TECk, Banks, Realty, PSU, Power and Metal, all gaining between 1-2%.
The three hour long meeting was attended by Secretaries of departments of Revenue, Expenditure, Financial services and Disinvestment.
It's in the same boat as other emerging markets with current account deficits, but the recent capital-raising measures may help
Despite a higher CAD in the first quarter, capital inflows were broadly adequate to finance the current account gap, requiring only a marginal drawdown of foreign exchange reserves.
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