Why does India’s growth rate look so weak?
Posted October 03, 2019 15:25:52India is struggling to balance its books and has been hit hard by falling oil prices.
But the slowdown in growth has also hit exports.
India is still one of the world’s fastest growing economies, but growth has slowed and imports are down.
The government says the slowdown is mainly due to the fall in oil prices and the impact of the GST, but the real problem is that the country’s economy is slowing down.
Read more about the economy:India is one of three countries in the world where the government says that the current account deficit, or the difference between what is coming in and what is going out, is at a record high of $US1.5 trillion ($2.3 trillion).
That is the highest the country has ever seen.
But India’s current account has also been a big drag on growth.
The country has had a current account surplus of $1.7 trillion since the end of March, the highest in the OECD.
The country is currently on track to have a current-account deficit of $4.1 trillion, the largest in the G7, according to the Organisation for Economic Co-operation and Development.
India’s current accounts are also one of its biggest sources of import pressure.
The Indian economy depends on a trade surplus with China, which accounts for about two-thirds of the countrys exports.
China is India’s biggest trade partner, and it is a significant source of India’s trade surplus.
India exports about a third of its oil to China, and about a fifth of its gas to China.
It also exports about $US500 billion a year to Europe.
The problem is this, says economist Suresh Jain from NAB, a think tank.
It’s not a trade deficit, it’s a current accounts deficit, and there’s a big trade surplus that China has to cover, and India doesn’t.
China imports about $1 trillion a year from India.
And there’s an enormous trade surplus in India, with China importing about $100 billion a day.
China’s not going to allow India to import more than $100bn a day, he says.
It’s very difficult to cut imports, but you can cut imports but you cannot make up the gap.
The biggest problem is a current flows deficit, which is a difference between how much the country is able to spend and how much it is able by selling exports.
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