The Union Finance Minister P Chidambaram has recently told the Parliament that his Ministry has taken several measures to ensure the Current Account Deficit (CAD) be fully and safely financed in the current year. If the CAD is contained at $70.0 billion, it will amount to 3.7 per cent of GDP (as against 4.8 per cent in 2012-13), Chidambaram said.
Tag: Current Account Deficit
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Govt aims to limit CAD at 3.7% of GDP
In a bid to tackle volatility in the currency market, Finance Minister P Chidambaram said the government would work towards limiting the current account deficit (CAD) to 3.7 percent of GDP, or $70 billion in 2013-14.
Further, he said the deficit would be financed fully and safely. In order to restrict the current account deficit to 3.7 percent of GDP, government plans to control demand for impo
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Indian economy may grow 6% in FY14: Deutsche Bank
A report by Deutsche Bank says the Indian economy may grow at a rate of 6 percent in 2013-14, compared to 5 percent in the previous financial year. The foreign brokerage expects the current account deficit (CAD), which touched a record high of 4.8 per cent in 2012-13, to decline to 3.8 per cent in the current financial year on the back of softening commodity prices
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RBI to use all tools to reduce currency volatility
Reserve Bank of India (RBI) Governor D Subbarao informed reporters that the central bank does not have any target for rupee level but will use all the instruments it has to reduce volatility. The Indian rupee depreciated against the dollar sharply to over Rs 60 recently
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Care Ratings expect 25 bps cut in repo rate by RBI
In an analyst note, Care Ratings said it expects Reserve Bank of India (RBI) to reduce repo rate by 0.25 per cent at the mid-term monetary policy review on June 17. In its May policy review, RBI cut the repo rate by 0.25 per cent and maintained that scope to further slash the short-term rate is
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RBI to take policy decision based on macroeconomy
The Reserve Bank of India (RBI) Governor Duvvuri Subbarao informed that the central bank would consider macro economic factors and "more importantly" the current account deficit before taking monetary policy stance. He attributed the depreciation of the Indian rupee to high current account deficit. The said deficit rose to a reco
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RBI to take policy decision based on macroeconomy
The Reserve Bank of India (RBI) Governor Duvvuri Subbarao informed that the central bank would consider macro economic factors and "more importantly" the current account deficit before taking monetary policy stance. He attributed the depreciation of the Indian rupee to high current account deficit. The said deficit rose to a reco
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Prioritise urban infra
National Urban Transport Policy [NUTP] was cleared initially way back in 2006, with a vision statement, to "make our cities the most liveable in the world and enable them to become the engines of economic growth". Given the organisation of our cities' infrastructure, it will be a mammoth task for any city to bring order and predictability, let alone promote sustainable forms of transport.
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