Early warning

Recent news from the external sector provides little respite for the Indian economy facing a slowdown for almost a year now. The current account deficit (CAD) of 3.1 per cent for the first quarter of FY 2012 (compared to 2.6 per cent during the corresponding period in FY2011) is largely due to a widening trade deficit and sharply higher external commercial borrowings (ECBs) by Indian companies.

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