The country’s current account deficit (CAD) narrowed sharply to $8.3 billion, or 1 per cent of the gross domestic product (GDP), in the second quarter (July-September) of financial year 2023-24 (FY24) compared to $30.9 billion, or 3.8 per cent of GDP, in the same period last year.
During the first quarter (April-June) of FY24, CAD stood at $9.2 billion, or 1.1 per cent of GDP.
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