"slump in oil prices"
How will this effect India's current account deficit ?
In 70 words
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Answer:
A fall in prices means that India will be able to save foreign exchange even when the quantum of import is not reduced . Accordingly, CAD will be managed. This will help in improving India's current account deficit.
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India's current account deficit could turn positive this fiscal with crude prices set to fall below $20 a barrel. This could help rupee get some cushion from volatile portfolio flows during the year, said a report by State Bank of India Research team which has forecast economic growth at 1.1 per cent for the year.
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