The Dollar Business Bureau India’s current account deficit (CAD) in the second quarter of this fiscal increased two-fold to $7.2 billion or 1.2% of gross domestic product (GDP) on year-on-year basis, due to higher increase in merchandise imports, mainly oil, according to the Reserve Bank of India (RBI). However, it is narrowed steeply from $15 billion or 2.5% of GDP compared to the preceding quarter of 2017-18. “India’s CAD at $7.2 billion (1.2% of GDP) in Q2 of 2017-18 narrowed sharply from $15 billion (2.5% of GDP) in the...