-
India’s Current Account Deficit Widens To 2.9% Of GDP In September Quarter
India's current account deficit widened to 2.9 percent of the gross domestic product in the quarter ended September compared with 1.1 percent in the year-ago period. The Reserve Bank of India on Friday said that this was mainly due to a large trade deficit. Current account deficit is the difference between outflow and inflow of foreign exchange in the country's current account. It stood at $19.1 billion during the quarter ended September. It increased from $6.9 billion or 1.1 percent of GDP in the second quarter of 2017-18. The current account deficit stood at $15.9 billion, which is 2.4 percent of GDP, in the ... (full story)