💨 Abstract

India's current account deficit expanded to $9.7 billion, or 1.1% of GDP, in Q1 2023, from $8.9 billion, or 1% of GDP, a year ago, due to a higher merchandise trade deficit. Import growth is expected to increase, supported by festive season demand, but will be partially offset by lower commodity prices.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖