Current account deficit News, Articles and Videos Current account deficit is the difference between a country’s total imports and exports. A country is said to have a current account deficit if it imports more goods, services, and investments than it exports. This is a reflection of the country’s negative balance of payments. A current account deficit can be caused by a number of factors, including a low savings rate, high levels of consumption, or large investments abroad. In some cases, a current account deficit can be a sign of economic strength, as it can indicate that a country is a net importer of goods, services, and capital. However, if a country’s current account deficit persists for an extended period of time, it can become unsustainable and lead to economic problems.
Senior Congress leader and former Union finance minister P Chidambaram on Monday said that the BJP-led central government in its upcoming budget should focus on addressing issues like the impact of the global slowdown on economic growth, falling exports, increase in the current account deficit and mounting total government debt.
India’s CAD widened to 4.4 per cent of the GDP in the quarter ending September, from 2.2 per cent of the GDP during the April-June period due to a higher trade gap, according to the latest RBI data. Get more Union Budget News and Business News on Zee Business.
The Economic Survey 2022-23 on Tuesday underlined the need for close monitoring of the current account deficit which may continue to widen because of elevated global commodity prices. Read Full Story at source (may require registration)
The Indian rupee may remain under depreciation pressure on account of plateauing of exports and subsequent widening of the current account deficit, said the Economic Survey 2022-23 tabled in Parliament on Tuesday.
Even as India’s current account deficit (CAD) widened to 3.3 per cent of gross domestic product (GDP) during the first half of the fiscal year, cheaper crude oil, resilient net services exports and … Read Full Story at source (may require registration)
Gold is highly taxed in India. Being the second largest imported commodity, the metal heavily increases our import bill. This causes a widening of our Current Account Deficit as well. To tackle the deficit, the government has increased the basic customs duty on gold over years to manage the flow of imports