This is for those who are biased to core to criticise the government for everything. But only for those who understands it. ......... India’s current account deficit (CAD) narrowed sharply to USD 4.2 billion (0.9 percent of GDP) in Q3 of 2013-14 from USD 31.9 billion (6.5 percent of GDP) in Q3 of 2012-13 primarily on account of a decline in the trade deficit as merchandise exports picked up and imports moderated, particularly gold imports. This is also lower than USD 5.2 billion (1.2 percent of GDP) in Q2 of 2013-14. On a BoP basis, merchandise exports increased by 7.5 percent to USD 79.8 billion in Q3 of 2013-14 (3.9 percent in Q3 of 2012-13) on the back of significant growth especially in the exports of engineering goods, readymade garments, iron ore, marine products and chemicals. On the other hand, merchandise imports at USD 112.9 billion, recorded a decline of 14.8 per cent in Q3 of 2013-14 as against an increase of 10.4 percent in Q3 of 2012-13. Decline in imports in Q3 was primarily led by a steep decline in gold imports, which amounted to USD 3.1 billion as compared to USD 17.8 billion in Q3 of 2012-13 and USD 3.9 billion in Q2 of 2013-14. This copy will be updated shortly..
Posted on: Thu, 06 Mar 2014 13:27:44 +0000
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