Page 2 - Current Account Deficit

India's current account deficit seen falling to $10 bn in Q1: India Ratings

With falling trade deficit, India's current account deficit is likely to narrow to around USD 10 billion or 1 per cent of GDP in the April-June quarter of the ongoing fiscal, according to India Ratings. The country's current account deficit (CAD) stood at USD 18 billion or 2.1 per cent in the corresponding period of the previous fiscal. However, the agency expects CAD to rise in the second quarter of the current fiscal as it sees merchandise exports declining below USD 100 billion after a gap of eight quarters. Imports are expected to be around USD 163 billion during the period, up from a seven-quarter low of USD 160.3 billion witnessed in Q1 FY24, due to increase in crude prices since July. This will have the overall trade deficit printing in at a three-quarter high of USD 64 billion, the rating agency said. Another reason is the moderation in services demand since June due to the slowdown in the global economy. Global services PMI stood at a five-month low of 52.7 in July. Thus,

India not alone in exhibiting improving current account balance numbers

India had seen an improvement in its current account balance in the March 2023 quarter

India's Jan-March current account deficit narrows as trade gap shrinks: RBI

Net services receipts increased, sequentially and on a year-on-year (y-o-y) basis, on the back of a rise in net earnings from computer services, the RBI said

CAD may narrow to below 2% of GDP in FY24: CEA V Anantha Nageswaran

India 'well covered', equipped to tackle El Niño impact: CEA

Current account deficit to narrow to $53 billion in FY24: Acuite Ratings

Credit rating agency Acuite Ratings & Research said it expects India's current account deficit to narrow to $53 billion in FY24.

India's vulnerability to global shocks to reduce in FY24: CRISIL

Domestic banking insulated from global financial turmoil and better positioned to tackle rising interest rates

Japan books $16.6 bn current account surplus for 2nd consecutive month

Japan logged a current account surplus of $16.6 billion in February, the Finance Ministry said in a report on Monday

Current account deficit to remain moderate, eminently manageable: RBI Guv

Reserve Bank Governor Shaktikanta Das on Thursday excuded confidence that India's current account deficit (CAD), a key external sector indicator, is likely to remain moderate in the January-March quarter of 2022-23 and also eminently manageable going forward. The CAD for the first three quarters of 2022-23 stood at 2.7 per cent of GDP. In the October-December quarter, CAD narrowed significantly to 2.2 per cent from 3.7 per cent in the preceding three months on account of lower merchandise trade deficit and robust growth in services exports. "Overall, our external sector indicators have improved significantly. Foreign exchange reserves have rebounded from USD 524.5 billion on October 21, 2022 and now stand in excess of USD 600 billion taking into account our forward assets," Das said while unveiling the bi-monthly monetary policy. Das said India's services exports continued to grow at a healthy pace in the first two months of 2023. Better growth prospects of the gulf cooperation ..

India's GDP growth to slow down to 6.3 per cent in FY24: World Bank

The latest India Development Update, released Tuesday, notes that rising borrowing costs and slower income growth are expected to weigh on private consumption growth

India's current account deficit declines to 2.2% of GDP in Q3FY23

Underlying the lower CAD in Q3FY23 was the narrowing of merchandise trade deficit to $72.7 bn from $78.3 billion in Q2FY23, coupled with robust services and private transfer receipts, RBI said

Current account deficit narrows to 2.2% of GDP in Q3, shows RBI data

Non-resident deposits recorded net inflows of $2.6 billion in the third quarter of the current fiscal as compared to net inflows of $1.3 billion in the year-ago period

India's current account deficit likely narrowed to 2.7% of GDP in Q4: Poll

The median forecast of 22 economists polled March 16-23 showed a current account deficit of $23.0 billion in October-December 2022, or 2.7% of gross domestic product (GDP)

India's external situation stable, says CEA V Anantha Nageswaran

G20 second framework working group meeting to discuss global macroeconomic issues

Widening deficit: Worries persist over FY24 current account balance

CAD may be better than expected in FY23, but India won't be completely out of the woods next year, says official

Current account deficit may fall in Dec quarter as net exports ease

In the September quarter, CAD touched a nine-year high at 4.4 per cent from 2.2 per cent in the June quarter as the negative net exports shot up to $50.3 billion from $36.3 billion

Japan's current account surplus drops 50% to lowest in 8 years in 2022

Japan's current account surplus logged in 2022 was almost 50 per cent lower than the previous year, marking its lowest level in eight years, owing to a record trade deficit.

Top headlines: CAD likely to narrow in 2023, misuse of IBC, and more

Business Standard brings you the top headlines at this hour

Current account deficit likely to narrow in 2023: RBI's January bulletin

The central bank cites IMF's calculations that have predicted India to be a $-5.4 trillion economy by 2027

Private jets to jewellery: Customs duty to be hiked on 35 items in Budget

The government has also issued quality control orders to curb the imports of these non-essential items

How sustained 6.5% growth for the rest of the decade can be realistic

Growth beyond 6% can happen, but there are constraints on both fiscal and monetary policy, which must focus on reducing the current account deficit, the fiscal deficit and inflation, writes T N Ninan