New Delhi, May 18 (IANS) India’s current account deficit (CAD) is likely to be about 2.1 per cent of GDP for FY27, assuming an oil average of $85 per barrel, a report said on Monday.The report from HDFC Bank said elevated crude and a closed Strait of Hormuz pose upside risks to forecast, adding that the recent gold import compression measures could provide some offset.The bank said that raising import duty to curb gold imports could trim the deficit, estimating a 20 per cent decline in gold vo…
Latest Gold imports News & Updates
New Delhi, April 17 (IANS) The Union Government on Friday allowed 15 major banks, including State Bank of India, HDFC Bank, and ICICI Bank, to import gold and silver from April 1, 2026, to March 31, 2029. The Union Bank of India and Sberbank have been authorised to import only gold during this period.The notification has been issued by the Directorate General of Foreign Trade (DGFT).The move is part of the government’s ongoing effort to streamline bullion imports and ensure they are routed thr…
New Delhi, April 16 (IANS) The trade deficit widening has been pushed out rather than avoided, a report showed on Thursday, adding that if the energy shock persists and Brent oil prices stays elevated, the deficit is likely to widen in the coming months.India’s goods trade deficit came in at $20.7 billion in March, much lower than last month’s $27 billion deficit. The March deficit is usually slightly narrower, but markets expected it to widen this time as Brent is up 60 per cent YoY due to the …