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India's Oct-Dec current account deficit widens to 2.7% of GDP

In the preceding quarter, the shortfall stood at $9.9 billion or 1.3% of GDP, RBI data showed

Photo: Brent Lewin/Bloomberg
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Photo: Bloomberg

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India's current account deficit widened in the three months to December, mainly on the back the higher trade deficit, the Reserve Bank of India said on Thursday.

The country's current account deficit (CAD) stood at $23 billion or 2.7% of GDP in the third quarter of fiscal year 2021/22, compared with a deficit of $2.2 billion or 0.3% of GDP as year earlier.

In the preceding quarter, the shortfall stood at $9.9 billion or 1.3% of GDP, RBI data showed.

"We expect the current account deficit to recede somewhat in Q4FY22, to around $17-$21 billion, with the third wave temporarily curtailing certain imports,"

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Mar 31 2022 | 5:50 PM IST

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