Current Affairs India - 26 May 2014 1. India’s balance of payment (BoP) sharply jumped to USD 7.057 billion in the fourth quarter of 2013—14 compared to USD 2.68 billion in the same period in 2012—13, as per RBI data published today. However it decreased steeply from USD 19.1 billion in the previous quarter. For the full year, the BoP stood at USD 15.459 billion. The current account deficit dropped sharply to USD 1.2 billion or 0.2% of GDP in fourth quarter of FY14 from USD 18.1 billion or 3.6% of GDP in the same quarter last year. In the previous quarter (third quarter of FY14), CAD stood at USD 4.2 billion or 0.9% of GDP. The lower CAD was primarily on account of a decline in the trade deficit as decline in imports was sharper than that in exports. In FY14, current account deficit dropped to 1.7% of GDP, or USD 32.4 billion, from 4.7% of GDP or USD 87.8 billion in the previous fiscal year FY13. currentaffairs-businessnews/2014/05/26/current-affairs-india-26-may-2014/
Posted on: Mon, 26 May 2014 17:43:21 +0000
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