Robust growth expected in coming months
India's external economy didn't deteriorate as badly as expected in the June quarter as the government's efforts to rein in gold imports paid off while the core sector grew at its strongest pace in seven months. The current account deficit (CAD), the difference between spending overseas and earnings, widened to 4.9% of GDP in the June quarter from 3.6% in the March quarter, or to $21.8 billion from $18.1 billion.
India's external economy didn't deteriorate as badly as expected in the June quarter as the government's efforts to rein in gold imports paid off while the core sector grew at its strongest pace in seven months. The current account deficit (CAD), the difference between spending overseas and earnings, widened to 4.9% of GDP in the June quarter from 3.6% in the March quarter, or to $21.8 billion from $18.1 billion.
The numbers are expected to get better as the year progresses. Read the Economic Times news report here.
