CURRENT ACCOUNT DEFICIT SEEN AT 2% OF GDP
Article Abstract:
The current account deficit as a percentage of gross domestic product (GDP) in 1998-99 is expected to be 2 percent. The total external debt of India rose by $1 billion in 1997-98 following appreciation of the US dollar against major international currencies. Short-term debt in 1997-98 was $5 billion ($6.7 billion in 1996-97). Of the total foreign investments of $2,956 million made by various countries in 1997-98, Mauritius accounted for 30.5 percent, USA 22.3 percent, South Korea 11.3 percent, Japan 5.5 percent, Netherlands 5.4 percent, Germany 5.1 percent and others 18.9 percent. (gs) --------------------------------------------------------- Foreign investment flow in 1997-98 (total $5,025 million) --------------------------------------------------------- Category Investment flow % --------------------------------------------------------- Govt (STA/FIPB) 54.8 --------------------------------------------------------- RBI 4.0 --------------------------------------------------------- NRI 4.8 --------------------------------------------------------- Offshore fund, others 4.1 --------------------------------------------------------- GDR 12.8 --------------------------------------------------------- FII 19.5 ---------------------------------------------------------
Comment:
India: Current account deficit as a percentage of gross domestic product in 1998-99 is expected to be 2%
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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GDP ESTIMATES REVISED, MOVE UP MARGINALLY TO 5.1%
Article Abstract:
The Central Statistical Organisation (CSO) has upwardly revised the gross domestic product (GDP) estimates by 0.1 percent to 5.1 percent for 1997-98. The revised estimates are lower than the 1996-97 GDP of 7.5 percent. The manufacturing sector fell to 5.8 percent from 6.1 percent. The community, social and personal services sectors grew at 14.5 percent (13.8 percent forecast earlier). CSO has downwardly revised the growth of trade, hotel, transport and communications to 5.2 percent (5.9 percent estimated earlier). (ag)
Comment:
India: Central Statistical Organisation revises GDP estimates by 0.1% to 5.1% for 1997-98
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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Re ENDS MARGINALLY LOWER
Article Abstract:
The rupee opened at Rs42.4950/5050 on January 19, 1999, fluctuated between Rs42.49 and Rs42.52 and closed at Rs42.5050/5150 against the US dollar in the forex market. Dollar supply being satisfactory and the demand less, the rupee had been steady for the whole week. Stray demand for dollar and the holiday for `Eid' weakened the rupee slightly. (kp)(m)
Comment:
The rupee opened at Rs42.4950/5050 on January 19, 1999, fluctuated between Rs42.49 and Rs42.52 and closed at Rs42.5050/5150 against the US dollar in the forex market.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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