Scrap export sops, build infrastructure

An uptick in exports for the second consecutive month in February is encouraging. Exports rose 4.25% from a year earlier to $26.3 billion. This move northwards, accompanied by a slower import growth, should help contain India's trade and current account deficits. With diesel prices headed north, consumption could fall, lowering the crude import bill and narrowing the current account deficit further. But global demand is still fragile despite the efforts of governments to stimulate growth.

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