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.

Iran leader calls Israel "rabid dog", urges arms for Palestinians

from firstpost

Iran leader calls Israel "rabid dog", urges arms for Palestinians

DUBAI (Reuters) - Iran's supreme leader Ayatollah AliKhameneion Tuesday called Israel a "rabid dog" for its attacks on Gaza, and urged Muslims to arm Palestinians to enable them to counter w...


Class 10 student gangraped by 5 people at gunpoint in Delhi

from firstpost

Class 10 student gangraped by 5 people at gunpoint in Delhi

New Delhi: A 16-year-old Class 10 student was allegedly gangraped by five persons, including three minors, at gunpoint in Uttam Nagar area of west Delhi.The girl alleged in her complaint that the accu...

Sonia, Rahul greet people on the occasion of Eid

from firstpost

Sonia, Rahul greet people on the occasion of Eid

New Delhi: Congress president Sonia Gandhi and party vice-president Rahul Gandhi Tuesday greeted people on the occasion of Eid-ul-Fitr.The Congress chief extended her greetings to the people on the fe...

Modi urges agricultural scientists to work towards increasing farm output

from firstpost

Modi urges agricultural scientists to work towards increasing farm output

New Delhi: Prime Minister Narendra Modi Tuesday urged agricultural scientists to work towards the twin objective of increasing food productivity and enabling farmers to earn a good livelihood."Ag...

China says investigating powerful former security chief for graft

from firstpost

China says investigating powerful former security chief for graft

BEIJING (Reuters) - China is investigating former domestic security chief Zhou Yongkang, one of the most powerful politicians of the last decade, on suspicion of corruption, the government said on Tue...

Himachal: 20 killed, 7 inured as bus falls in gorge near Shimla

from firstpost

Himachal: 20 killed, 7 inured as bus falls in gorge near Shimla

Shimla: At least 20 persons were killed and seven injured when a bus fell into a gorge at Katarghat on Basantpur-Kingal highway, 65 km from Shimla, this afternoon.The Himachal Road Transport Corporati...

Even as UPSC protests continue govt asks civil aspirants to stay calm

from firstpost

Even as UPSC protests continue govt asks civil aspirants to stay calm

New Delhi: UPSC aspirants Tuesday continued their protest here demanding scrapping of Civil Services Aptitude Test (CSAT) from the entrance examination. The government, however, advised them to mainta...