StanChart lowers CAD in India projection to USD 45 bn in FY 2014

Oct 10 2013, 21:07 IST
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Standard Chartered sharply cuts its forecast on India's current account deficit for 2013-14 to $45 billion. Reuters Standard Chartered sharply cuts its forecast on India's current account deficit for 2013-14 to $45 billion. Reuters
SummaryIndia's balance of payments now expected to be a surplus $20.6 billion in 2013-14.

Standard Chartered said in a note on Thursday.

"Policies to address the C/A deficit seem to have worked and investors will now have one less macro challenge to worry about in India," Standard Chartered economists wrote in the note.

The bank maintains its projections on capital account for the current fiscal year at $65 billion.

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