What's NewIndia's Current account deficit soars to a 4-year high of USD 14.3 billion.

The widening of the deficit (2.4% of GDP) was primarily on account of a surge in merchandise imports (mainly gold). In addition, strong appreciation of the rupee and shrinking export growth contributed to higher trade deficit (72.9% YoY). The September quarter will be challenging for the govt as higher crude prices would further add to the import bill. (September 18th, 2017)

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