Imports too contracted by 28.72 per cent to $31.16 billion. Dip in exports and imports narrowed the trade deficit -- the difference between imports and exports -- in March to $9.76 billion, the lowest in the last 13 months.
Lower crude prices mean less government outlay for India,
India's trade account could come under pressure and there could be an inflation push if crude oil prices remain above the $90 per barrel (Brent) for a prolonged period since India imports over 85 per cent of its oil and roughly 50 per cent of its gas. A rebound in economic activity is bound to lead to higher fuel demand. While India is the third-largest importer of crude, it is a net exporter of refined products, which helps to compensate to some degree.
The women's commission in Kerala is seeking to limit the amount of gold given at weddings to no more than 80 grams to reduce the burden on families and help ease India's trade deficit.
The Indian challenge in the women's section might already have ended as Zhongyi stood firmly ahead on five points while Goryachkina had 4.5 points in her kitty.
Sri Lanka, Thailand and Singapore are the latest hotspots as authorities crack down on travellers from Dubai.
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.
India's politicians need to do a better job of managing the economy: Inflation control, productivity improvement, etc, asserts T N Ninan.
The Commerce Ministry, according to an official, has proposed interest subsidy for different sectors like engineering which are reeling under the impact of global economic slowdown.
Large trade deficit and rupee decline against the US dollar are putting pressure on the CAD, and these steps are likely to have a positive impact on the external sector.
Chief Economic Advisor Krishnamurthy Subramanian said China imports a lot of components, parts, assembles and integrates and then exports them.
Govt proposes to introduce redeemable gold bonds.
Street expects RBI to keep CRR unchanged, opt for open-market operations to ease liquidity
From the Sensex pack, NTPC, Tata Motors, Titan, Larsen & Toubro, Reliance Industries, IndusInd Bank, Infosys, HDFC Bank and Power Grid were among the major gainers. Wipro and Tech Mahindra were the laggards.
The Chinese currency too is expected to continue its fall.
Investment announcement for $100 bn over 5 years likely.
The rupee tumbled 19 paise to close at a fresh lifetime low of 77.93 against the US dollar on Friday as rising crude oil prices and unabated foreign capital outflows soured sentiment. A sell-off in equity markets and stronger greenback overseas also weighed on the domestic unit, forex traders said. At the interbank foreign exchange market, the local currency opened at 77.81 and witnessed an intra-day high of 77.79 and a low of 77.93 against the US dollar.
The real requirement for the finance minister's explanatory speech is to explain the measures taken in the Budget to influence inflation and growth not just through the announcement of a deficit goal, but more broadly through the impact on money supply, consumer demand, foreign trade and investment, explains Nitin Desai.
After contracting for six straight months, India's exports rose 5.99 per cent to $27.58 billion in September on account of growth in shipments of drugs and pharmaceuticals and readymade garments, as per the government data released on Thursday. Exports stood at $26.02 billion in September 2019. The country's imports contracted 19.6 per cent to $30.31 billion in September.
Markets ended on a positive note with 50-share Nifty surging above the key resistance level of 6,000 this Friday after Infosys, the company with fifth-highest weightage on the Sensex defied analysts' estimates and posted steady dollar revenue growth for fiscal 2014.
The economy keeps chugging along on the back of massive international borrowing, on a scale that is generally recognised as unsustainable. As a consequence, it has an abysmal savings-GDP ratio.
Noting 80 per cent of India's requirement of petroleum products was imported, the Prime Minister said this dependence was likely to increase.
If the concerns over risking political capital are overcome, the long-term gains for the Indian economy will be immense, asserts A K Bhattacharya.
The sole economic superpower does not want to dethrone the dollar, or for that matter practise Third World economics.
Under MRA, Japan is to recognise Indian medical degrees and treat the country's doctors and other medical personnel on par with its own.
Nifty ended up 12 points or 0.3% at 4,637.
India's balance of payments in negative territory.
The combined fertiliser, food and petroleum subsidy budgeted estimate for FY19 is Rs 2.64 trillion, while the revised estimate is Rs 2.66 trillion. If the carrying forward to FY20 does not happen, the revised estimates for the major subsidies could actually cross Rs 3 trillion for the first time ever.
The rupee on Monday appreciated by 11 paise to 54.64 against the US dollar in early trade at the Interbank Foreign Exchange, aided by selling of the American currency by exporters and banks.
At India's largest bullion dealer turnover has dropped to 20-30 kg a day from about 300 kg.
Barring a few exceptions India has a chronic trade deficit with most of its existing FTA partners as it is with most of its proposed FTA partners.
Strength in dollar against some other currencies overseas weighed on the rupee
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.
Eurozone crisis has hit the India-France bilateral trade and achieving the USD 12 billion target (of the trade) would be difficult this year, French Ambassador to India, Francois Richier, said.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
The broader NSE Nifty ended at 10,888, a gain of 0.77 per cent or 83 points, after shuttling between 10,900.35 and 10,844.85.
At the Interbank Foreign Exchange market, the local unit commenced strong at 54.40, which was also to be the day's high, as against previous close of 54.57.
The critical information in the first quarter (Q1) gross domestic product (GDP) data relates to the proximity of real and nominal GDP growth rates at 7.8 per cent and 8 per cent, respectively. The implicit price deflator (IPD)-based inflation is only 0.2 per cent. This phenomenon has repeated after fifteen quarters.
Indian frontline benchmarks - the S&P BSE Sensex and the Nifty50 - have rallied around 12 per cent each since June-end and outperformed their global peers by a wide margin. On Thursday, the US Fed hiked interest rates by another 75 basis points (bps) - the third such hike this year - and surprised the markets by projecting further sizable hikes in the coming months. With the latest hike, the Fed fund rate (FFR) now stands in the range of 3 - 3.25 per cent and is highest since January 2008.
