Wednesday, December 1, 2021

Joey Lawrence and his Girlfriend Samantha Cope Engaged!

Joseph Lawrence Mignogna Jr., the popular American actor cum musician, is finally engaged to her girlfriend, Samantha Cop, the actress. The pair got engaged...

Latest Posts

Pakistan: Violence erupts over alleged insult of Quran, protesters set fire to police station

Violent protests have started in the Tangi area of ​​Charsadda district, located in Pakistan's Khyber Pakhtunkhwa province, after the case of alleged insults to...

Saudi Prince and President Biden makes efforts to reduce gasoline prices

President Joe Biden looked intensely frustrated. Inflation was approaching toward a 30-year high and Americans, rich and poor, could see the cost of gasoline...

Electric Vehicle Charging Station by US LED

US LED's TurboEVC is an electric car charging station designed for commercial and industrial use. The Level 2 charging point is compatible with currently available...

Germany’s Plugin EV Market Share Exceeds 30% – An Unstoppable Force

In October, plug-in electric vehicles accounted for 30.4 percent of new vehicle sales in Germany, the world's fifth-largest auto market and Europe's largest. Full...

India’s Account balance lower to 1% of the GDP

Due to a high trade deficit and low intangible net income, India’s current account balance recorded a deficit of US$8.1 billion (1% of GDP) in the quarter ending March 2021 (FY21 Q4) a report from Wednesday stated. The country’s current account deficit for January-March was US$8.1 billion, compared with a surplus of US$600 million in the same period last year.

According to data from the Reserve Bank of India, the deficit in the previous quarter accounted for 0.9% of GDP. However, the central bank stated that due to the sharp drop in the trade deficit to 102.2 billion U.S. dollars and which was 157.5 billion U.S. dollars in 2019-20. The CAD, the gap in the country’s total external revenue and expenditure is an important factor reflecting the strength of a country’s external sector.

The three consecutive current account surpluses were mainly due to the decline in India’s trade deficit, which was reduced due to the ongoing coronavirus pandemic, and the domestic economy also declined. The balance of payments, showed a surplus of US$3.4 billion in the fourth quarter of the 2020/21 fiscal year, compared with a surplus of US$18.8 billion in the same period last year.

Due to the increase in net outflows of overseas capital gains and the decrease in net private transfer income, net intangible income in FY21 was lower, although net income from services was higher than in the previous period, the central bank said.

Despite the pandemic, net foreign direct investment inflows of US$44 billion in FY21 exceeded US$43 billion in 2019-20, the report added. The Reserve Bank of India reported that, net foreign securities investment also increased by US$36.1 billion in FY21, compared with US$1.4 billion in the previous year. According to the Reserve Bank of India, India’s foreign business loans amounted to US$200 million, compared to US$21.7 billion in 2019-20.

According to the report, due to insufficient balances, US$87.3 billion accumulated in foreign exchange reserves. The Reserve Bank of India reported that the current account deficit in the March quarter was higher, mainly due to a higher trade deficit and lower intangible net income than the same period last year. Personal remittance income increased to 20.9 billion US dollars, a year-on-year increase of 1.7%, mainly from remittances from Indians working overseas.

Read More: Battlegrounds Mobile India sending data to servers of Krafton

 

Latest Posts

Pakistan: Violence erupts over alleged insult of Quran, protesters set fire to police station

Violent protests have started in the Tangi area of ​​Charsadda district, located in Pakistan's Khyber Pakhtunkhwa province, after the case of alleged insults to...

Saudi Prince and President Biden makes efforts to reduce gasoline prices

President Joe Biden looked intensely frustrated. Inflation was approaching toward a 30-year high and Americans, rich and poor, could see the cost of gasoline...

Electric Vehicle Charging Station by US LED

US LED's TurboEVC is an electric car charging station designed for commercial and industrial use. The Level 2 charging point is compatible with currently available...

Germany’s Plugin EV Market Share Exceeds 30% – An Unstoppable Force

In October, plug-in electric vehicles accounted for 30.4 percent of new vehicle sales in Germany, the world's fifth-largest auto market and Europe's largest. Full...

Don't Miss

Perseverance Rover begins to search for alien life on Mars

Nearly a year after launching from the earth, NASA's Perseverance Mars 2020 rover began to search for extraterrestrial life on the red planet, using...

OPEC withdraws the deal to cut outputs

OPEC (Organization of the Petroleum Exporting Countries) and its allies headed by Russia agreed to phase out the coronavirus-related production cuts by September 2022,...

Samsung A22 5G specifications leaked, no update on release date

According to reports, Samsung Galaxy A22 5G is one of the affordable 5G smartphone models expected to be launched in August. The smartphone model...

The Simpsons predictions so far in 2021

The Simpsons have a long history of predicting real events with amazing accuracy. From pop culture and celebrity feelings to political moments in real...

Poco F3 GT announced to be launched in India on July 23

A company executive announced the price of the POCO F3 GT before the official launch in India. This is the second model in the...

Stay in touch

To be updated with all the latest news, offers and special announcements.