Tapering: India learned its lesson the hard way

The Indian economy is finally showing signs of revival more than six months after news from the US of a tapering of quantitative easing battered the country’s markets. India’s current account deficit has reduced a lot, although fiscal developments seem bleak at best. But the country has built up its defences — which will help in its battle against future economic challenges.

  • By Jon Hay
  • 06 Dec 2013
India's macroeconomic future hangs in the balance. Its current account deficit narrowed to $5.2bn, or 1.2% of gross domestic product, during the second quarter ending September 30, down from a $21bn deficit year-on-year, the Reserve Bank of India said on December 2. The figure is much lower than ...

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