Key Points
India needs to see an increase in domestic household savings in order to finance private sector's capital formation in the economy, the Finance Ministry said in the February edition of its Monthly Economic Review...
"The narrowing merchandise trade deficit and rising net services receipts are expected to result in an improvement in the current account balance in the ongoing financial year," the report said..
However, the current account deficit will bear watching in FY25, it cautioned...
"Strong growth accompanied by stable inflation and external account and progressive employment outlook help the Indian economy close the current financial year on a positive note," it said.. "India, on the whole, looks forward to a bright outlook for FY25," the report added..
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India set for longer economic, financial cycle than past: Finance ministry
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Goldman Sachs revises India's current account deficit forecast to 1.3% from 1.9% of GDP
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India's govt, RBI need to step up vigilance on higher inflation expectations, Finance Ministry says
22, Aug, 23Global and regional uncertainties and domestic disruptions may keep inflationary pressures elevated in India for the coming months, the Finance Ministry said in a report. Retail inflation in India has surged to 7.4 per cent in July from 4.9 per cent in June. The latest rise in inflation could partly be attributed to the current spurt in tomato and other vegetable prices across India.
Domestic demand, investment to drive growth, says Economic Review
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