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Gold import revision cuts Nov trade deficit by $5 bn
Hindustan Times Bengaluru
|January 09, 2025
India's record trade deficit for November has been revised downward to $32.8 billion from $37.8 billion, after the government made a sharp correction in gold import data.
NEW DELHI:
The Directorate General of Commercial Intelligence and Statistics (DGCIS), an arm of the commerce ministry, said on Wednesday that gold imports for the month were adjusted to $9.8 billion, a substantial reduction from the earlier estimate of $14.8 billion.
The $5-billion revision was attributed by PTI to a calculation error caused by alleged double counting of gold shipments in warehouses.
A commerce ministry official said the revision "emerged after a change in reporting methodology in July" and that the discrepancy was discovered during the process of reconciling figures of the DGCIS and the Central Board of Indirect Taxes and Customs.
Diese Geschichte stammt aus der January 09, 2025-Ausgabe von Hindustan Times Bengaluru.
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