GN Bureau | February 26, 2016
The economic survey 2015-16 shows that the prudent external debt policy of the government has resulted in external debt remaining within safe and comfortable limits and in containing its rise. India’s balance of payments (BoP) position remained comfortable during the first half of 2015-16. Low levels of current account deficit coupled with moderate rise in capital inflows resulted in rise in foreign exchange reserves of $10.6 billion in first half of 2015-16. India’s foreign exchange reserves at $351.5 billion as on February 5, 2016 mainly comprised foreign currency assets equal to $328.4 billion (93.4% of the total) and gold at $17.7 billion. Between April 2015 and January 2016, the average exchange rate of the rupee depreciated to Rs 65.04 per US dollar as compared to Rs. 60.92 per US dollar in April 2014- January 2015.
The growth in India’s exports declined year on year by 17.6% and they stood at $217.7 billion. The imports have also declined by 15.5% in the current financial year to $324.5 billion US dollars. Lower levels of Petroleum Oil Lubricants (POL) imports were the main reason for the decline in total imports this year so far. As a result, the trade deficit decreased to $106.8 billion as compared to $119.6 billion in the corresponding period of 2014-15. The economic survey further says that while exports slowdown may continue for a while before picking up in the next fiscal, continuance of low commodity prices globally augurs well for sustaining low trade and current account deficit.
Within days of announcing its new Electric Vehicle Policy 2021, Maharashtra Friday announced its partnership with Climate Group’s EV100 network to push and promote electric vehicles and reduce CO2 emissions. The policy, meanwhile, was also notified on Friday. Climate Gro
Severe rains battered Raigad, Thane, Ratnagiri, Kolhapur and Satara regions of Maharashtra with rains in Ratnagiri district breaking the 40-year record. As rivers in these districts crossed warning levels, the National Disaster Response Force (NDRF), the State Disaster Response Force (SDRF), Coast Guard, N
Dr. Praveen Kumar, director, department of pediatrics, Lady Hardinge Medical College, New Delhi, talks about various issues including impact of Covid-19 on children, the need to protect them, and vaccinating pregnant women and lactating mothers. How has the pandemic affected
There has been an active debate globally and in India about the digital divide. This debate has gained additional weight during the Covid-19 pandemic because the acceleration of the need for digital access to health and other social services has thrown this issue into sharper relief. A critical public poli
The need for digital connectivity has never been more pressing. The pandemic has changed work ethos and day-to-day lives of people across the globe. The new norm is ‘Technology First’, as with people moving to digital connectivity to fulfill their requirements in daily life. India’s dream
With an increasing number of vehicles on roads and the problem of parking in the city of Mumbai, BMC will implement a decentralised parking plan under the newly constituted Mumbai Parking Authority (MPA). The plan, green-lighted by municipal commissioner Iqbal Singh Chahal, will start