Citi ups India's FY13 current account deficit estimate to 4.7%
PTI: New Delhi, Feb 15 2013, 16:28 IST
CAD risk, further crowd out private investment and stunt growth impulses," RBI had said in its third quarter monetary policy review.
Over the last few months, the government has taken several steps to boost dollar inflows like de-regulating NRI deposit rates, relaxing ECB norms, increasing FII debt limits, liberalisation of FDI and postponement of GAAR and higher duties on gold.
Meanwhile, high import of gold is adding to the CAD despite efforts by the government to check import of the precious metal. Gold accounts for second largest import in value terms after oil.
Gold imports in the April-December period stood at USD 38 billion. In 2011-12 fiscal it was USD 56.5 billion.
Previous Story FCRA Bill to develop the commodities futures market could be passed in Budget session: K V Thomas Next Story Polaris to launch high-end motorcycle in India by 2013-end
Reader's Comments| Post a Comment
Be the first to comment.
