Packing batteries with more punch
Indian researchers are working on cells that can store more energy, last longer
India’s Current Account Deficit (CAD) narrowed sharply to 0.9 per cent of GDP in the July-September (Q2) of FY2019-20 from 2.9 per cent in the year-ago period and 2 per cent in the preceding quarter. This contraction in CAD was primarily on account of lower trade deficit.
CAD occurs when the value of goods and services imported exceeds the value of exports. A large CAD can cause the domestic currency to depreciate.
In absolute terms, the CAD in the reporting quarter (Q2) came down to $6.3 billion from $19 billion in the year-ago quarter and $14.2 billion in the preceding (April-June 2019) quarter. Trade deficit in the reporting quarter was lower at $38.1 billion when compared to $50 billion a year ago. Net services receipts increased by 0.9 per cent on a year-on-year (y-o-y) basis on the back of a rise in net earnings from computer, travel and financial services, the RBI said.
Private transfer receipts, mainly representing remittances by Indians employed overseas, rose to $21.9 billion, increasing by 5.2 per cent from their level a year ago. In the financial account, net foreign direct investment was $7.4 billion, almost same level as in Q2 of 2018-19.
Foreign portfolio investment recorded net inflow of $2.5 billion, against an outflow of $1.6 billion in Q2 of 2018-19, on account of net purchases in the debt market.
Net inflow on account of external commercial borrowings to India was $3.2 billion when compared to $2 billion in Q2 of 2018-19.
There was an accretion of $5.1 billion to the foreign exchange reserves as against a depletion of $1.9 billion in Q2 of 2018-19. The CAD narrowed to 1.5 per cent of GDP in H1 (April to September) of 2019-20 from 2.6 per cent in H1 of 2018-19 on the back of a reduction in the trade deficit, which shrank to $84.3 billion in H1 of 2019-20 from $95.8 billion in H1 of 2018-19.
Indian researchers are working on cells that can store more energy, last longer
To fix a broken bone, doctors often harvest another bone from the patient’s body or from someone else. It ...
Superconductors from IIScScientists at IISc Bangalore have invented a device with a nanocrystal structure ...
Engineering and construction giant L&T has won a licence from the Council of Scientific & Industrial ...
Will a stock continue its current trend or will it reverse? We tell you how you can read chart patterns to ...
Sensex and Nifty 50 saw selling interest on Friday and slumped; selling pressure could continue
Investors with a long-term horizon can consider this offer
Most AMCs have been sending out cryptic e-mails. We tell you how to read between the lines
In these isolated times when people yearn for a slice of the familiar, amateur and professional chefs are ...
Forget the tuna. The island nation will keep you full and happy with coconut, koftas and jasmine
This year, on Facebook, I saw that someone had posted a list of EASY RESOLUTIONS. I didn’t copy them down but ...
With strokes of quirky humour, Partha Pratim Deb uses pulp, terracotta, glass and discarded cloth to create ...
Digital is becoming dominant media, but are companies and their ad agencies transforming fast enough to make a ...
Slow Network, promoted by journalist-lyricist Neelesh Misra, pushes rural products and experiences
How marketers can use the traditional exchange of festive wishes meaningfully
For Fortune, a brand celebrating its 20th anniversary, it was a rude shock to become the butt of social media ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor