|
High cost of oil widens current account deficit |
 |
According to the Balance of Payments statement for the first quarter put out by the Reserve Bank of India, high cost oil has widened the current account deficit i.e., the gap between imports on the one hand and exports and ‘invisible’ earnings (comprising software services/remittances) of the country on the other, from about $1 billion in Q4 of 2007-08 to about $10.72 billion in the first quarter of the current fiscal.
A year ago, current account deficit was at $6.3 billion. India imports 70 p ...
Get the full article in your mailbox -
BUY NOW!
|
