NEW DELHI(PTI): Indian trade deficit for 199293 is likely to be over US dollar six billion, one and a halftimes higher than the yearend figure suggested by the Directorate General of Commercial Intelligence and statistics (DGCIS),
As per data, the trade deficit is expected to touch US dollar four billion in 199293. This, in turn, is extrapolated from trends observed in the first 11 months of the financial year,
The US dollar four billion figure is, however, prone to under estimation, mainly because DGCIS does not cover certain non-dutiable imports on the government’s account. Such imports includes elect armament purchases made by the country.
The economic survey has estimated “non DGCIS imports” at US dollar 1.8 billion during April September 1992, as against US dollar 1.4 billion during the correspondence period of 1991. These imports may exceed US dollar two billion for the entire financial year 1992 93,
If non DGCIS imports are included, the actual trade deficit would work out to more than US: dollar six billion in 199293. This figure, in fact, coincides with the US dollar six billion deficit, projected earlier in the economic survey.
Article extracted from this publication >> April 30, 1993
