Category : Economy & Banking
The government has announced an array of steps to check the rising Current Account Deficit (CAD), and the fall in rupee. The steps include removal of withholding tax on rupee-denominated bonds known as Masala bonds issued till March 2019, relaxation for Foreign Portfolio Investment (FPI), and curbs on non-essential imports. The government has decided on a number of steps to contain CAD, which widened to 2.4% of the GDP in the first quarter of 2018-19. |
The current account deficit is a measurement of a country's trade where the value of the goods and services it imports exceeds the value of the goods and services it exports.
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The steps to be taken by the government to attract dollar inflows into the country include:
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Source- The Indian Express
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