With shrinking trade deficit, India’s slowdown battle has got prolonged
Trade deficit in Sep slipped to a seven-month low of $10.9 billion as exports, imports saw the steepest fall in three years
What’s more, after the corporate tax cut bonanza, the clamour for personal income-tax reductions to boost demand has got louder
India’s latest trade data reading is yet another reminder of anaemic economic growth. Recently, the International Monetary Fund’s chief, Kristalina Georgieva, said the impact of global slowdown was more pronounced in India. Indeed, the country’s subdued export growth mirrors that pain. However, now with a broad-based decline in imports as well, India’s battle to reverse its domestic slowdown could be prolonged.
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