Live
- ISL 2024-25: FC Goa eager to continue momentum against in-form Punjab FC
- Bhool Bhulaiyaa 3: Kartik Aaryan’s Horror-Comedy Crosses Rs 100 Crore in 3 Days
- Microsoft CEO Satya Nadella Takes Rs 46 Crore Cut: Details
- Water released to Ravulacheruvu village in Dharmavaram Constituency
- Bihar minister Renu Devi observes Chhath festival in Bettiah
- TN: Leopard kills dog at home stay in Valparai, locals demand immediate capture
- Japan, South Korea, US condemn North Korea's latest missile launches amid rising tensions
- Waqf Bill: Oppn MPs meet LS Speaker, lodge protest against JPC chairman Jagdambika Pal
- Ashok Kumar Garg takes charge as Gurugram MCG commissioner
- Posters, banners festoon Hyderabad to welcome Rahul Gandhi
FY19 CAD inches up to 2.1% of GDP in FY19
Current account deficit (CAD) increased to $57.2 billion or 2.1 per cent of GDP in FY19 as against 1.8 per cent in the previous year, the Reserve Bank said on Friday.
Mumbai: Current account deficit (CAD) increased to $57.2 billion or 2.1 per cent of GDP in FY19 as against 1.8 per cent in the previous year, the Reserve Bank said on Friday. The CAD, which is the net of foreign exchange inflows and outflows, had stood at $48.7 billion in FY18.
For FY19, the deficit widened despite a narrowing of the same in the March quarter to 0.7 per cent of GDP or $4.6 billion, as against $27.7 billion or 2.7 per cent in the December quarter and $13 billion or 1.8 per cent in the March 2018 quarter, the central bank data showed.
Overall trade performance was the prime influencer for both the contraction in CAD for the March quarter as well as a widening for the full year. A lower trade deficit of $35.2 billion in the March quarter, compared to $41.6 billion in the year-ago period helped in CAD contraction, it said.
