n18
NEWS|Current Affairs 
   |

The current account deficit (CAD) for the June quarter (Q1 FY14), is likely tocome at 6.1 percent of gross domestic product (GDP), due to higher gold imports, belives Sonal Varma, India Economist, Nomura Financial Advisory & Securities. Also read: Gods forbid: India's temples guard their gold from govtOn the other hand Haseen Drabu, economist, expects the macro data to come between 3 and 3.5 percent forFY14. The government will be releasing the country's balance of payment numbers today. Below is the edited transcript of the interview to CNBC-TV18. Q: What is the number that you are going with? Varma: For the June quarter, we are expecting a current account deficit of USD 27 billion which amounts to 6.1 percent of gross domestic product (GDP). This quarter clearly has seen a significant increase in gold imports plus exports so we were looking at USD 27 billion which is substantially higher than last quarter USD 18 billion. The current account deficit (CAD) numbers should improve going forward but this quarter will be pretty bad. Q: You did mention a significant increase in gold imports – what is the number that you are going with today? Varma: We are expecting a USD 27 billion CAD which is 6.1 percent of GDP and gold imports in the June quarter have been close to USD 17-18 billion in the first quarter itself.

Obama says does not yet have military strategy for Islamic State

from firstpost

Obama says does not yet have military strategy for Islamic State

WASHINGTON (Reuters) - President Barack Obama said on Thursday the United States has not yet developed a strategy for confronting Islamic State in Syria, an acknowledgement that a decision had not bee...


Obama says does not yet have broad strategy for Islamic State

from firstpost

Obama says does not yet have broad strategy for Islamic State

WASHINGTON (Reuters) - President Barack Obama said on Thursday that he has not yet developed a broad strategy for confronting Islamic State in an acknowledgement that he has not decided whether to lau...

Israel police find body of missing U.S. student

from firstpost

Israel police find body of missing U.S. student

JERUSALEM (Reuters) - Israeli police said on Thursday they had found the body of a 23-year-old American student who went missing last week near a forest in Jerusalem and that they did not suspect a cr...

France's Hollande says Assad no ally in fight against Islamic State

from firstpost

France's Hollande says Assad no ally in fight against Islamic State

PARIS (Reuters) - French President Francois Hollande said on Thursday opposition forces fighting Islamic State militants in Syria and Iraq should get more Western support but ruled out seeing Syrian P...

Hamas leader says Gaza only "milestone to reaching our objective"

from firstpost

Hamas leader says Gaza only "milestone to reaching our objective"

DOHA (Reuters) - Hamas will not cease resisting Israel until all its demands are met, the group's overall leader Khaled Meshaal said on Thursday, adding the latest Gaza conflict was only "a miles...

Hamas leader says Gaza only a "milestone to reaching our objective"

from firstpost

Hamas leader says Gaza only a "milestone to reaching our objective"

DOHA (Reuters) - Hamas will not cease its resistance against Israel until all its demands are met, the group's overall leader Khaled Meshaal said on Thursday, adding that the latest conflict over Gaza...

All India Bar Association opposes Katju's views on CJI appointment

from firstpost

All India Bar Association opposes Katju's views on CJI appointment

New Delhi: The All India Bar Association today brought to President Pranab Mukherjee's attention its"deep anguish" on views of Press Council of India Chairman Markandey Katju that the Chief ...