The commerce ministry in its latest data has showed that gold imports of India, which have a bearing on the current account deficit, dipped 24.15 per cent to $35 billion in 2022-23 as compared to $46.2 billion in 2021-22 due to global economic uncertainties.
The data showed that the growth rate in the imports was in the negative zone during August 2022 to February this year (2023). It jumped to $3.3 billion in March 2023 as against $1 billion in the year-ago month. The country is the largest importer of gold, which mainly caters to the demand of the jewellery industry. In volume terms, the country imports 800-900 tonne of gold annually.
However, silver imports rose 6.12 per cent to $5.29 billion during the last fiscal. Meanwhile, gems and jewellery exports declined by 3 per cent to about $38 billion during 2022-23. Last year, the Centre hiked gold import duty to 15 per cent from 10.75 per cent to check the current account deficit (CAD).
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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