Current Account in India
India - Current AccountThe ruling coalition government led by Prime Minister Modi’s Bharatiya Janata Party will likely hold onto power over the next five years, according to exit polls released on 19 May. This indicates continuity in economic policy going forward, notably rising government spending with a focus on infrastructure and financial support for farmers. Against this backdrop, private-sector PMI data in April hinted at potentially quicker economic growth going forward despite easing to the lowest reading since September 2018, as businesses were optimistic that economic conditions would improve once the political dust settles. This comes after the private-sector PMI edged slightly lower, on average, in January–March compared to the prior quarter, and industrial production decreased in March for the first time in over one-and-a-half years.
India - Current Account Data
|Current Account (% of GDP)||-1.8||-1.4||-1.1||-0.7||-1.9|
5 years of economic forecasts for more than 30 economic indicators.
India Current Account Chart
Source: Ministry of Finance and FocusEconomics calculations.
|Bond Yield||7.01||-0.04 %||Jun 13|
|Exchange Rate||69.53||-0.09 %||Jun 13|
|Stock Market||39,741||-0.08 %||Jun 13|
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June 12, 2019
Industrial production increased 3.4% in April in annual terms, up from March’s revised 0.4% increase (previously reported: -0.1% year-on-year) and marking the fastest pace of growth in six months.
June 12, 2019
In May, consumer prices rose 0.57% compared to the previous month, matching April’s figure.
June 6, 2019
As expected by market analysts, the Reserve Bank of India’s Monetary Policy Committee (MPC) cut all monetary policy rates by 0.25 percentage points at its 4–5 June meeting, reducing the repo rate to 5.75%, the marginal standing facility to 6.00% and the reverse repurchase rate to 5.50%.
June 5, 2019
The composite Purchasing Managers’ Index (PMI) produced by Nikkei and IHS Market was unchanged in May at April’s 51.7.
May 31, 2019
In the fourth quarter of fiscal year 2018—which ended in March 2019—GDP grew 5.8% in annual terms, down from the 6.6% expansion recorded in the third quarter, below market analysts’ expectations of 6.3% and marking the slowest expansion since Q1 FY 2013.