Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Popular Search: cpt :: VAT Audit :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: TDS :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: empanelment :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: ACCOUNTING STANDARDS
Latest Circulars »
 Sources of Variation in Foreign Exchange Reserves in India during April-December 2017
 Developments in India’s Balance of Payments during the Third Quarter (October-December) of 2017-18
 Submission of returns by the Government-owned Non-Banking Financial Companies
 Agency commission payable to banks for operating Special Deposit Scheme (SDS)
 Directions under Section 35A of the Banking Regulation Act, 1949 (AACS) – Sanmitra Sahakari Bank Maryadit,
 Banking Regulatory Powers Should Be Ownership Neutral (Urjit R. Patel, Governor, Reserve Bank of India – March 14, 2018 – Inaugural Lecture : Centre for Law & Economics, Centre for Banking & Financial Laws Gujarat National Law University, Gandhinagar)
 50 LPA-OPening Very Urgent Chief Financial Officer (cfo)
 RBI Working Paper No. 2/2018 : Non-Linear, Asymmetric and Time-Varying Exchange Rate Pass-Through: Recent Evidence from India
 Discontinuance of Letters of Undertaking (LoUs) and Letters of Comfort (LoCs) for Trade Credits
 RBI: SMA details exempted from disclosure under RTI
 RBI-Hedging of Commodity Price Risk and Freight Risk in Overseas Markets (Reserve Bank) Directions

Developments in Indias Balance of Payments during the First Quarter (April-June) of 2016-17
September, 22nd 2016

Preliminary data on India’s balance of payments (BoP) for the first quarter (Q1) i.e., April-June, 2016-17 are presented in Statements I (BPM6 format) and II (old format).

Key Features

  • The current account deficit (CAD) narrowed to US$ 0.3 billion (0.1 per cent of GDP) in Q1 of 2016-17, significantly lower than US$ 6.1 billion (1.2 per cent of GDP) in Q1 of 2015-16 (Table 1).

  • The contraction in the CAD was primarily on account of a lower trade deficit (US$ 23.8 billion) than in Q1 of last year (US$ 34.2 billion) and in the preceding quarter (US$ 24.8 billion).

  • On a BoP basis, merchandise imports declined sharply (by 11.5 per cent) vis-à-vis merchandise exports (which declined by 2.1 per cent), leading to a lower trade deficit in Q1 of 2016-17.

  • Net services receipts declined on a y-o-y basis, largely due to a fall in net earnings on account of travel, financial services and other business services.

  • Net payment on account of primary income (dividend, interest and profit) increased marginally in Q1 of 2016-17 from its level a year ago.

  • Private transfer receipts, mainly representing remittances by Indians employed overseas, amounted to US$ 15.2 billion, declining from their level in the preceding quarter as well as from a year ago.

  • Net foreign direct investment moderated to US$ 4.1 billion in Q1 of 2016-17 from US$ 10.0 billion in Q1 of 2015-16 and US$ 8.8 billion in the preceding quarter i.e., Q4 of 2015-16.

  • On the other hand, portfolio investment, recorded a net inflow of US$ 2.1 billion in Q1 of 2016-17 as against a marginal outflow in the corresponding period of last year and an outflow of US$ 1.5 billion in the preceding quarter, primarily reflecting net inflow in the equity component.

  • Accretion to non-resident Indian (NRI) deposits at US$ 1.4 billion moderated in Q1 of 2016-17 from their level in Q1 last year as well as in the preceding quarter.

  • Higher repayments under external commercial borrowings led to a net outflow under loans to India in Q1 of 2016-17 as against net borrowings in the same period last year.

  • Foreign exchange reserves (on a BoP basis) increased by US$ 7.0 billion in Q1 of 2016-17 as compared with an accretion of US$ 11.4 billion in Q1 of 2015-16 and US$ 3.3 billion in the preceding quarter.

Table 1: Major Items of India's Balance of Payments
(US$ Billion)
  Apr-Jun 2016 (P) Apr-Jun 2015 (PR)
Credit Debit Net Credit Debit Net
A. Current Account 125.2 125.5 -0.3 126.9 133.0 -6.1
1. Goods 66.6 90.5 -23.8 68.0 102.2 -34.2
   Of which:            
         POL 7.0 19.0 -12.0 8.3 24.7 -16.4
2. Services 39.5 23.8 15.8 38.3 20.5 17.8
3. Primary Income 3.8 10.0 -6.2 3.3 9.2 -5.9
4. Secondary Income 15.3 1.3 14.0 17.3 1.1 16.2
B. Capital Account and Financial Account 129.2 129.0 0.1 141.1 133.9 7.2
  Of which:            
Change in Reserve (Increase (-)/Decrease (+)) 0.0 7.0 -7.0 0.0 11.4 -11.4
C. Errors & Omissions (-) (A+B) 0.2 0.0 0.2 0.0 1.1 -1.1
P: Preliminary; PR: Partially Revised
Note: Total of subcomponents may not tally with aggregate due to rounding off.

Alpana Killawala
Principal Adviser

Press Release : 2016-2017/727

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Careers

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions