Motilal Oswal - MOSL: ECOSCOPE-CAD narrows to 0.7% of GDP in FY17-Gross domestic savings fall to 13-year low

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Motilal Oswal

Nikhil Gupta

MOSL: ECOSCOPE-CAD narrows to 0.7% of GDP in FY17-Gross domestic savings fall to 13-year low

â€‹ECOSCOPE: CAD narrows to 0.7% of GDP in FY17; Gross domestic savings fall to 13-year low

Indiaâ€™s current account deficit (CAD) widened from USD0.3b (or 0.1% of GDP) in 4QFY16 to USD3.4b (or 0.6% of GDP) in 4QFY17, but slimmed from USD22.1b (or 1.1% of GDP) in FY16 to USD15.2b (or 0.7% of GDP) in FY17. Excluding gold, current account had a surplus of USD5b (or 0.9% of GDP) in 4QFY17 and USD12.3b (or 0.5% of GDP) for FY17.
Financial inflows increased to USD10.4b in 4QFY17, primarily due to USD10.8b foreign portfolio investments (FPI), which more than offset the lower foreign direct investments (FDI; fell from USD8.8b in 4QFY16 to USD5b in 4QFY17).
Due to lower CAD and higher capital inflows, Indiaâ€™s forex reserves increased by USD7.3b in 4QFY17, as against a reduction of USD1.2b in the previous quarter and an accumulation of USD3.2b in 4QFY16.
More worryingly, total domestic savings (implied from the difference between investments and CAD) eased further to 28% of GDP in 4QFY17 â€“ the lowest since 2003.

16/06/2017 4 EN

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Nikhil Gupta

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MOSL: ECOSCOPE-CAD narrows to 0.7% of GDP in FY17-Gross domestic savings fall to 13-year low

MOSL : HOME FIRST FINANCE COMPANY: Earnings in-line with sustained improvement in asset quality

MOSL : SHOPPERS STOP: Ticking the right boxes

MOSL : ERIS LIFESCIENCES: Enhanced efforts toward product launch-related activities

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