The current account deficit is one of major challenges that Indian economy is facing. It has pulled down the economy growth to 4.8% from average growth of 5.5%. The current account records the trade of goods and services of an economy with other countries of the world. It consists of net exchange i.e. exports minus imports of goods, net exchange of services and net transfers to and from the country. Balance of the account before calculating the transfers is also called as balance of trade.
X = Exports of goods and services
M = Imports of goods and services
I =Invisibles (net)
NMG=Non-monetary movement of gold
CAB = (X – M) + I+ NMT
So now we can define current account deficit which means if CAB holds a negative value whereas if CAB has a positive value it will be called as current account surplus. Practically current account deficit, also referred as CAD, means there is negative balance of trade. In Indian economy the CAD occurred because there are more imports than exports. While a current account deficit can be considered akin to a country living “outside of its means," having a current account deficit is not inherently bad. If a country uses external debt to finance investments that have a higher return than the interest rate on the debt, it can remain solvent while running a current account deficit. If a country is unlikely to cover current debt levels with future revenue streams, it may become insolvent.
At this stage, it was perceived that a CAD level of around 1.6 per cent of GDP was sustainable.
during 2011-12, CAD exceeded the level of 4.0 per cent of GDP and there has been net drawdown of reserves to the extent of about USD 13 billion. CAD began rising in the second ha...
... middle of paper ...
...ty and packaging requirement: Import of all the edible products like tea, domestic sales and manufacture of these products are included in this Act. These product need to comply with certain quality and packaging requirement mentioned under this Act.
ii. Shelf Life: The product mentioned under this act shall also be subject to the condition that, at the time of importation, the products are having a valid shelf life of not less than 60%. Of its original self-life. Self-life of the product is calculated on the basis of date of manufacturing and expiry date given at the back of the product or the label of the product
iii. Meat and Meat Products including Poultry products: There is certain condition which is required to meet in case of Import of meat and poultry products regarding manufacture, slaughter, packing, labeling and quality conditions as laid in the Act
Under section 14 of sales of good act 1979 all goods send to customers must
The federal deficit refers to the difference between all the amount the government attains from taxes plus receipts (other revenues) and the outlays (the cash the government spends). On its part, the national debt refers to the overall debt as a result of accrued deficits in addition to the accrued off-budget surpluses. The national government with regards to on-budget deficits can borrow money by offering treasury securities to the public, which then adds to the total debt.
...nguage, and religion all make up Canada’s human face, but also front how the cultural accommodation will continue with the risk of losing Canada’s main traditions. Faultlines again come into perspective within demographic issues, especially with newcomers/old-timers, aboriginal population expansions, and French/English language. The core/periphery model is also represented. The end of the chapter places a focus on Canada’s economic face as well, dealing with stresses inside the global economy as well as its strong dependency on the U.S markets (Bone, 169) especially with the stimulating global recession. Canada’s economic structure leans on the relative share of activity in the primary (natural resource extraction), secondary (raw material assembly), tertiary (sale/exchange of goods and services), and quaternary (decision-making) sectors of the economy (Bone, 166).
People outside of Canada are baffled at how Canada ended up in such a state of affairs. Canada as a country has a lot going for it. A high GNP, and high per capita income in international terms. It is ranked at the top of the...
Throughout the years the U.S has had more budget deficits than it has had surpluses. This is due to the excess in spending and not enough revenues to pay for it. Many have debated over the U.S budget deficit problem. However to fix the problem one has to research the past to figure out how the U.S budget deficit got to where it is now. Hopefully by figuring out this, one could project what the U.S budget deficit will look like in years to come.
import taxes. Due to the Tariff Act of 1883 a tax needed to be paid on vegetables, but not for
S.6(2) states that as against a person dealing as consumer, liability for breach of the obligations arising from ss.13, 14 or 15 of the Sale of Goods Act 1979 (seller's implied undertakings as to conformity of goods with description or sample, or as to their quality or fitness for a particular purpose) cannot be excluded or restricted by reference to any contract term.
few ideas on the following subject. For many years, the meat packing industry of this
Tom Regan, “The Case for Animal Rights,” in In Defense of Animals, ed. Peter Singer (Oxford: Blackwell, 1985), 21. U.S. Department of Agriculture, National Agricultural Statistical Services, Livestock Slaughter. 2005 Summary, March 2006: USDA, NASS, Poultry Slaughter: 2005
In 1995, the Thai Ministry of Commerce promulgated the "Ministry of Commerce on anti-dumping and countervailing duty notice," the notice contained in many of the specific requirements and procedures interpreted by the Department of Commerce Foreign Trade. In July 1999, a new "anti-dumping and countervailing duty laws" promulgated; however, the Department of Commerce Foreign Trade did notexplain many of the specific provisions. This time lag causes any possible interpretation in the future. In addition, there was no English version for many other trade-related laws and regulations.
Spoilage results mainly from off'-odour development, and product shelf-life is resoluted both by the number of spoilage organisms present initially and the temperature history of the product at all stages of production and subsequent storage and handling (Pooni and Mead, 1984).
'subject to this Act, when goods are sold by a person who is not their
National debt is the total outstanding amount that the central government has borrowed from national creditors (internal debt) and foreign creditors (external debt). Whenever the government spends more than it receives in taxes, it adds on to the debt. There has been a lot of debate on whether the government should raise taxes or cut spending. Either way slows economic growth, both can cause consumers to spend less. Raising taxes mean goods are more expensive and consumers are unwilling to pay, cutting spending means that goods that were once free of charge may
As per the report of Techno spark management consulting company , grocery and personal care product retailing in India was about 8% contribution to GDP( Gross domestic product ) of our country in the year 2007 , 11% of GDP in the year 2011, 18% in the year 2016 , and it is said to be 26% in the year 2020 for the overall GDP ( Gross domestic product) of our country[19] . The contribution of grocery and personal care product retailing to the GDP of our country is shown in the following table 2.1.
Importing nations oblige these reports for the organization of their import laws, evaluation of expenses, and assurance from dangerous bugs and ailments. A portion of the all the more oftentimes obliged reports are: business receipt, pressing rundown, bill of replenishing, phytosanitary declaration (for plants or plant items), veterinary wellbeing endorsement (for creatures or creature items), and authentication of source. Other import regulations that may influence a shipment are bundling and naming necessities and reusing