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Current account deficit may be less in FY13: RBI

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India's current account could be less in the current fiscal year ending March 2013, compared with the previous fiscal, Reserve Bank of governor Duvvuri Subbarao said on Wednesday at a post-policy conference call with analysts.

For fiscal year 2011/12, India's current account deficit was $78.2 billion, deeper than the $46 billion deficit in 2010/11.

The left its key unchanged at 8 percent on Tuesday for the second straight review, showing that bringing down stubbornly high inflation is its top priority even as economic conditions deteriorate.

 

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