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.
A veteran bullion analyst expects monthly import to average 50 tonnes till December.
Gold and silver imports declined 80.55 per cent to $1.05 billion in November after a slew of measures taken by the government to curb inbound shipments of the metal, aimed at narrowing the current account deficit.
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India's economic growth slipped to decade low of 5 per cent in 2012-13 and in the current fiscal it estimated to be around the same level.
With India faced with high Current Account Deficit, FM has been visiting major global financial hubs like Japan, Germany, Hong Kong and Singapore, to project the country as a investment destination.
The government on Friday reduced the import tariff value on gold and silver to $420 per 10 grams and $645 per kg, respectively, taking cues from firm global prices.
Declining value of the rupee, widening Current Account Deficit (CAD) and the impact of likely tapering of US bond purchases are some of the key issues which will keep Raghuram Rajan busy.
Looks at sovereign funds and Fortune 500 firms.
Chidambaram said banks have been asked to strictly adhere to the norms on gold imports.
The West Bengal state government has delayed project approvals. And now, the IT giants may look at other states as the centre is thinking of giving sops to SEZs
Fresh dollar selling by exporters on hopes of fall in the USD after downward revision to that country's first quarter GDP growth also helped rupee recover as hopes surfaced that the Fed may delay the plan to taper of monetary stimulus.
The CAD, which represents the difference between exports and imports after considering cash remittances and payment, widened to a record high of 5.4 per cent of gross domestic product, or $22.3 billion, in the July-September quarter.
The price of gold in India shot up 2.3 per cent in the past week.
FM feels it will help to bring down imports.
He also suggested reducing interest rates would help stimulate growth.
The 3-month, 6-month and 12-month USD-rupee forecasts are 55, 53 and 52 respectively.
A high import of the metal is putting pressure on current account deficit.
Subdued Asian and European markets due to escalating trade war between the US and China mainly led to caution on domestic bourses, brokers said.
Union Commerce and Industry Minister Anand Sharma takes on Narendra Modi, says: Gujrat cannot be sold as a model state as it has many flaws.
The overall inflation in March fell to 5.96 per cent.
Established in 1986, Rail Coach Factory (RCF), a manufacturing unit of Indian Railways has manufactured around 16,000 passenger coaches of 51 different types including self propelled passenger vehicles which constitute over 35% of the total coaches in the Indian Railways.
Out of 389 SEZs notified, 170 are operational, Export Promotion Council for export-oriented units and special economic zones (EPCES) said in a statement.
Earlier, the RBI had imposed similar restrictions on commercial banks and NBFCs.
The Fisc and savings-investment gap lie at the heart of policy responses.
The CAD, which is the difference between inflow and outflow of foreign currency, 'widened from 5.4 per cent in Q2 (July-September) to a record high of 6.7 per cent of GDP in Q3, driven mainly by large trade deficit' RBI said in its report on Balance of Payments.
Unsustainable CAD, sticky inflation & impact on pace of rate cuts all worries for FY14.
The Vijay Kelkar committee has cautioned that India's current account deficit (CAD) might rise to a record 4.3 per cent of gross domestic product (GDP) in 2012-13 if reforms to address this do not take place.
Positive for banking, infra, FMCG and real estate.
It will help to stop widening of Current Account Deficit.
The banks says that valuations are reasonable.
Sukanya Verma tells us just what makes Mirch Masala a must watch.
Sukanya Verma offers an onscreen recap of this onscreen wild child.
In August 2013, import duties on gold, silver and platinum were hiked to 10 per cent in order to curb the surging imports and also to check CAD.
As many as 1,578 dedicated COVID hospitals are providing quality medical care.
The rupee had lost 10 paise to close at 54.62 on Monday.
Govt proposes to introduce redeemable gold bonds.
CAD touched a historic high of $88 billion in 2012-13.
Not only is gold a hedge against currency depreciation, rising crude prices and uncertainty, it is up 7 per cent (in dollar terms) in the past 12 months, says Devangshu Datta.
