Economic Survey 2023: India's CAD within manageable limits
The CAD stands for the measurement of any country’s trade when the value of the goods and services imported exceeds the value of goods and services exported.
The CAD stands for the measurement of any country’s trade when the value of the goods and services imported exceeds the value of goods and services exported.
With 132.34 metric tonnes of gold purchase, RBI emerged as the largest buyer of the yellow metal among central banks between April 2020 and September 2022.
Except for sound forex reserve and external debt, other indicators like weak and K-shaped recovery, high fiscal deficits, high trade and current account deficits point to a prolonged crisis.
The fall in its forex reserves to around $533 billion currently, from a peak of about $634 billion in 2021, is driven in part by India's growing current account deficit, says S&P.
India's current forex reserve is equivalent to 13.2 months of import, and higher than the country's external debt.