India’s current account deficit narrowed in the September quarter of the fiscal year as the trade deficit shrank, central bank data showed on Tuesday, but the momentum may not be sustainable. “The contraction … was primarily on account of a lower trade deficit at $38.1 billion as compared with $50.0 billion a year ago,” the Reserve Bank of India said in the release. The trade deficit stood at $12.12 billion in November compared with $16.67 billion a year earlier, trade ministry data showed earlier this month. …read more
Source:: Yahoo Finance
