Important News of the Day
1. CAG suspends Padma awards audit.
2. China tops in illicit cash flow.
Illicit cash flow arise through trade mispricing.
If an exporter understates the value of goods actually exported in relation to the imports recorded in the importing partner country and keeps the balance of funds abroad, that too is an illicit outflow.
3. GFI- Global Financial Integrity.
4. Fiscal deficit may swell to 5.2% compared to the 4.6% of GDP.
1. CAG suspends Padma awards audit.
2. China tops in illicit cash flow.
If an exporter understates the value of goods actually exported in relation to the imports recorded in the importing partner country and keeps the balance of funds abroad, that too is an illicit outflow.
3. GFI- Global Financial Integrity.
4. Fiscal deficit may swell to 5.2% compared to the 4.6% of GDP.
5. FDI down 50% in Oct to $1.16bn.
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