June quarter current account gap narrower than expected

India's current account deficit (CAD) was narrower than expected at $21.8 billion, or 4.9% of gross domestic product, in the June quarter. Still, it was wider than $18.17 billion, or 3.6% of GDP, in the three months ending in March, on a seasonal slowdown in exports and firm imports. Five economists had predicted the June quarter CAD would rise to $23-$25 billion. Read More