India current account deficit down |
India picked up in services exports including software that resulted in the Current Account Deficit narrowing considerably to $8.2 billion or 1.6% of gross domestic product for the quarter ended December 2014 down from $10.1 billion (2% of GDP) on end-September 2014. Also, steady remittances by non-residents helped the balance of payment surplus to nearly double to $13.2 billion from $6.9 billion in the preceding quarter. However, the trade deficit in the October-December period widened slightly to $39.2 billion from $38.6 billion a quarter ago as exports continued to be sluggish.
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