Q2 current account deficit may rise to 1% on US tariff

TARIFF woes and the resultant fall in exports, coupled with the sharp depreciation of the rupee, will push up the current account balance, says a report.

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As per India Ratings, deficit may print in at 1% of GDP or $10 billion, which will be a three-quarter high. During the first two months of Q2 of the current fiscal, exports did not fall badly, mainly due to front-laoding of shipments ahead of the August tariff deadline. While goods exports rose 7.3% to $37.24 billion in July, driven by engineering goods, el