Narrower current-account deficit seen for India

10/20/2013 | Wall Street Journal (India)

India is likely to be in a stronger position than expected to deal with eventual tapering by the U.S. Federal Reserve with a current-account deficit of less than the previously projected 3.8% of gross domestic product, according to Planning Commission Deputy Chairman Montek Singh Ahluwalia. Given the recent strength of the rupee, "the bottom line on CAD is that news is very good. It will be lower than 3.8%," Ahluwalia said.

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