By the end of Day 3, India had rallied to 358/9, but still trails Australia's first-innings total by 116 runs with Reddy standing unbeaten with Mohammed Siraj.
Resilient services exports and remittance inflows are likely to cushion the overall impact, keeping the CAD for FY25 within a manageable range of 1.2 per cent-1.5 per cent of GDP.
A day after the commerce ministry released trade data for November showing the highest-ever trade deficit of USD 37.8 billion. The Ministry of Finance highlighted the various initiatives taken by the ministry this year to boost trade with other countries.
It was a disappointing day at work for India as after conceding 445 runs in the first innings, they lost four early wickets in their task of overcoming a huge deficit at Brisbane on Monday.
India's merchandise trade deficit in November came at USD 37.84 billion, attributable to burgeoning imports relative to exports. Reportedly, this is the highest monthly trade deficit by far.
India's overall exports, merchandise and services combined, in November were to the tune of USD 67.79 billion, a 9.6 rise on a yearly basis, Commerce Ministry data showed on Monday. Same month last year it was USD 61.85 billion.
The fiscal deficit of the central government is projected to be 4.8 per cent of GDP for FY25, slightly below the budgeted estimate of 4.9 per cent, according to a report by Care Edge Ratings. The marginal improvement is attributed to healthy tax collections, despite certain shortfalls.
CareEdge Ratings expects the central government to continue on the path of fiscal consolidation and projects India's GDP growth to moderate but remain healthy at 6.5 per cent in the current financial year.
Chandrajit Banerjee, Director General, CII, elaborating on the suggestions for the forthcoming Union Budget also pointed out that overly aggressive targets beyond the ones mentioned could adversely affect growth.
Technical Advisor to Deputy Chief Minister and Irrigation Minister, K Jaiprakash, said on Saturday that there won't be any deficit of water for upstream taluks in Tumakuru district by supplying water to Kunigal taluk through the Sriranga Drinking Water Project (Kunigal Express Link Canal).
The Organisation for Economic Co-operation and Development (OECD) stated that Austria's economic activity is projected to recover slowly from a two-year contraction, with GDP growing by 1.1 per cent in 2025 and 1.4 per cent in 2026.