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June quarter current account gap narrower than expected

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India’s current account deficit (CAD) was narrower than expected at $21.8 billion, or 4.9% of gross domestic product, in the June quarter.

 

Still, it was wider than $18.17 billion, or 3.6% of GDP, in the three months ending in March, on a seasonal slowdown in exports and firm imports.

 

Five economists had predicted the June quarter CAD would rise to $23-$25 billion. Read More

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