Finance minister Nirmala Sitharaman said on Friday that the government and the Reserve Bank of India are keeping \u201ca good eye\u201d on rupee depreciation, which makes imports expensive. A hike in import duty on gold, announced earlier in the day, was aimed at discouraging these non-essential imports as these were affecting the country\u2019s current account balance, the minister said.<\/p>\n
According to the RBI data, India\u2019s current account deficit (CAD) decreased to $13.4 billion or 1.5% GDP in Q4FY22, from $22.2 billion (2.6%) in the previous quarter, but the deficit is seen to have widened in the June quarter to around $17 billion. It may remain elevated in the near term as trade deficit in most months of FY23 could exceed the $20-billion mark.<\/p>\n","protected":false},"excerpt":{"rendered":"
Finance minister Nirmala Sitharaman said on Friday that the government and the Reserve Bank of India are keeping \u201ca good eye\u201d on rupee depreciation, which makes imports expensive. A hike in import duty on gold, announced earlier in the day, was aimed at discouraging these non-essential imports as these were affecting the country\u2019s current account balance, the minister said. According to the RBI data, India\u2019s current account deficit (CAD) decreased to $13.4 billion or 1.5% GDP in Q4FY22, from $22.2 billion (2.6%) in the previous quarter, but the deficit is seen to have widened in the June quarter to around […]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,195,138],"tags":[],"class_list":["post-502500","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/502500","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=502500"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/502500\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=502500"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=502500"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=502500"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}