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Buoyant over the better than expected current account deficit data for Q3 FY14, Finance Minister P Chidambaram has asserted that India’s CAD will be contained at less than $40 billion this fiscal year, well below the record level at $87.8 billion in 2012-13.
CAD for the third quarter of the current financial year narrowed sharply to $4.2 billion (0.9% of GDP) as compared to $5.2 billion (1.2% of GDP) in Q2 FY14 mainly driven by a sharp decline in the trade deficit as merchandise exports picked up and imports moderated, particularly gold imports. During the April-December FY14, CAD stands at $31.1 billion (2.3% of GDP) versus $69.8 billion (5.2% of GDP) reported in the same period of previous fiscal year.
Finance Minister also expressed confidence to contain the fiscal deficit at the revised fiscal deficit target of 4.6% of GDP during 2013-14. In the previous fiscal, country’s fiscal deficit widened to 4.9% of GDP. Referring to the economic growth, Chidambaram stressed that the domestic economy is presently more stable compared to 18 months ago and economy’s strength is reflected through the strengthening of the rupee and increasing foreign investment. Indian economy’s growth had slowed to a decade low at 4.5 percent in FY13.
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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