India’s current account deficit falls 95% year-on-year
India's current account deficit (CAD) narrowed sharply by 95.08% to $300 million in the quarter ended June 2016, from $6.1 billion in the year-ago period, the RBI said on Wednesday. The reduction in the deficit was driven by a drop in imports. CAD is a measure of the country's trade, representing how much more the country imports than it exports.