BrahMos WORLD INDIA MADHYA PRADESH BHOPAL WTN SPECIAL GOSSIP CORNER RELIGION SPORTS BUSINESS FUN FACTS ENTERTAINMENT LIFESTYLE TRAVEL ART & LITERATURE SCIENCE & TECHNOLOGY HEALTH EDUCATION DIASPORA OPINION & INTERVIEW RECIPES DRINKS BIG MEMSAAB 2017 BUDGET 2017 FUNNY VIDEOS VIRAL ON WEB PICTURE STORIES Mahakal Ke Darshan
WTN HINDI ABOUT US PRIVACY POLICY SITEMAP CONTACT US
N
W
T
logo
Breaking News

FY18 current account deficit widens as trade deficit rises (Lead)

Wednesday - June 13, 2018 7:20 pm , Category : BUSINESS
Mumbai June 13 (IANS) India s current account deficit (CAD) for 2017-18 has widened on the back of a higher trade deficit Reserve Bank of India s (RBI) data showed on Wednesday.
According to the RBI data the CAD for last fiscal widened to 1.9 per cent of the GDP (Gross Domestic Product) from 0.6 per cent in 2016-17.
The current account is the net difference between inflows and outflows of foreign currencies.
Accordingly the country s trade deficit increased to $160 billion in 2017-18 from $112.4 billion in 2016-17.
"Net invisible receipts were higher in 2017-18 mainly due to increase in net services earnings and private transfer receipts " the RBI said in the "Developments in India s Balance of Payments".
In terms of inflows gross FDI (Foreign Direct Investment) into India increased to $61 billion in 2017-18 from $60.2 billion in 2016-17.
However net FDI inflows in 2017-18 fell to $30.3 billion from $35.6 billion in 2016-17.
As per the RBI data portfolio investment recorded a net inflow of $22.1 billion in 2017-18 as compared with $7.6 billion a year ago.
"In 2017-18 there was an accretion of US$ 43.6 billion to the foreign exchange reserves (on a BoP basis) " RBI said.

--IANS rv/bg