The spike in gold imports after the duty cut is likely to bloat the Q2FY2025 current account deficit (CAD) to 2.0 per cent of gross domestic product (GDP) from 1.1 per cent of GDP in Q1 FY2025, says Icra
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The report has estimated the current account balance to register a deficit of around USD 8 billion in the first quarter of the current financial year (Q1FY25)
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