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Current account deficit is shrinking but that’s not good news

Updated : December 03, 2019 02:01 PM IST

In the first 7 months of this year imports have declined by 7 percent YoY but in the last three months imports have declined by almost 15 percent YoY.
In FY19 India’s CAD was $57 billion or 2.1 percent of GDP; the current trajectory suggests CAD will shrink to half of that or just over 1 percent of GDP this year.
Current account deficit is shrinking but that’s not good news

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