This autumn present account deficit at $8.1 billion on decrease receipts

India’s present account steadiness (CAB) recorded a deficit of $8.1 billion (1.0 per cent of GDP) within the fourth quarter ended March 2021, as in opposition to a surplus of $0.6 billion (0.1 per cent of GDP) in This autumn of 2019-20 and a deficit of $2.2 billion (0.3 per cent of GDP) within the previous quarter.
According to the RBI, the present account deficit in This autumn of 2020-21 was totally on account of a better commerce deficit and decrease internet invisible receipts than within the corresponding interval of the earlier yr. “Net services receipts increased on the back of a rise in net earnings from computer, transport and business services,” it mentioned.
Private switch receipts, primarily representing remittances by Indians employed abroad, elevated to $20.9 billion, up by 1.7 per cent from their degree a yr in the past.
Ministries instructed to restrict Q2 spending at 20% of BE
NEW DELHI: The Centre has requested many ministries and departments to scale down their Q2FY22 expenditure plans by 5 proportion factors from the business-as-usual degree of 25 per cent of full-year spending. The transfer is a part of re-prioritisation of spending within the wake of second Covid wave.
Departments and businesses that must limit the general expenditure embrace Labour, Panchayati Raj, Social Justice, Posts, Telecom, Consumer Affairs, and so on. —FE