Figures
on India's balance of payments in financial year 2023-24,
recently released by the Reserve Bank of India, have
added to the hype on India's growth story. India's current
account deficit, or the surplus of current foreign exchange
expenditures and outflows over current foreign exchange
earnings and receipts, fell to $23.2 billion from a
much higher 67 billion in 2022-23.
*
This article was originally published in the Frontline
on July 8, 2024.
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