Page 3 - Current Account Deficit
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 GDP growth to slow down to 6.3 per cent in FY24: World Bank")
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
 "India's current account deficit declines to 2.2% of GDP in Q3FY23")
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
 "Current account deficit narrows to 2.2% of GDP in Q3, shows RBI data")
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 current account deficit likely narrowed to 2.7% of GDP in Q4: Poll")
India's external situation stable, says CEA V Anantha Nageswaran
G20 second framework working group meeting to discuss global macroeconomic issues
 "India's external situation stable, says CEA V Anantha Nageswaran")
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
 "Widening deficit: Worries persist over FY24 current account balance")
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
 "Current account deficit may fall in Dec quarter as net exports ease")
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.
 "Japan's current account surplus drops 50% to lowest in 8 years in 2022")
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
 "Private jets to jewellery: Customs duty to be hiked on 35 items in Budget")
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
Rupee, worst emerging Asia currency of 2022, likely to fall further
RBI may mop up any inflows to boost its foreign-exchange reserves, a move that may also work against the rupee
 "Rupee, worst emerging Asia currency of 2022, likely to fall further")
Citigroup cuts India's current account deficit forecast to below 3% of GDP
Net exports of services rose 35% to $34.5 billion in the second quarter of the current fiscal
India's current account deficit projected at $106bn: Acuite Ratings
Credit rating agency Acuite Ratings and Research has revised downward Indias current account deficit to $106 billion in FY23
 "India's current account deficit projected at $106bn: Acuite Ratings")
BS poll: Rupee seen range bound, widening current account deficit a risk
Renewed overseas flows to provide support
 "BS poll: Rupee seen range bound, widening current account deficit a risk")
India's current account deficit in July-Sept rises sharply to 4.4% of GDP
Balance of Payments position sees depletion of $30.4 billion, says central bank
 "India's current account deficit in July-Sept rises sharply to 4.4% of GDP")
CAD widens to 4.4% of GDP in Q2 due to higher trade deficit: RBI data
The country's current account deficit widened to 4.4 per cent of the GDP in the quarter ended September, from 2.2 per cent GDP during the April-June period, due to higher trade gap, as per data released by the Reserve Bank on Thursday "India's current account balance recorded a deficit of USD 36.4 billion (4.4 per cent of GDP) in Q2:2022-23, up from USD 18.2 billion (2.2 per cent of GDP) in Q1:2022-23 and a deficit of US$ 9.7 billion (1.3 per cent of GDP) a year ago [i.e., Q2:2021-22]," the RBI said. Underlying the current account deficit in July-September 2022-23 was the widening of the merchandise trade deficit to USD 83.5 billion from USD 63 billion in first quarter of 2022-23 and an increase in net outgo under investment income. Services exports reported a growth of 30.2 per cent on a year-on-year (y-o-y) basis on the back of rising exports of software, business and travel services. Net services receipts increased both sequentially and on a yearly basis.
 "CAD widens to 4.4% of GDP in Q2 due to higher trade deficit: RBI data")
India to receive record remittances but experts worry CAD will still widen
Of $90 billion remittances that India is expected to receive in 2022, only $27.4 billion has come in the first half of the year
 "India to receive record remittances but experts worry CAD will still widen")
India's Q3 current account deficit likely rose on widening trade gap: Poll
A revival in domestic demand in Asia's third-largest economy since the Covid-19 pandemic has also compounded the shortfall through higher imports
