Mon Sep 30 12:21:08 UTC 2024: ## India’s Current Account Deficit Widens in First Quarter of FY 2024-25
**New Delhi:** India’s current account deficit widened to $65.1 billion in the first quarter of the fiscal year 2024-25, according to the Reserve Bank of India (RBI). This represents an increase from $56.7 billion recorded in the same period last year.
The widening deficit is attributed to an increase in the trade deficit, which reflects a gap between imports and exports. The RBI report highlights that the merchandise trade deficit grew significantly during the period.
This news comes amidst other developments in the business sector.
* The government has issued a notification to ensure the quality of screws supplied to consumer durable goods manufacturers.
* Kredi’s revenue has reportedly grown by 66% in 2023-24, reaching ₹2,473 crore.
* AGCO has partnered with TAFE to launch Massey Ferguson branded tractors in India.
* Sony India continues to experience high growth in the premium television segment.
The current account deficit remains a concern for the Indian economy, and its impact on overall growth is being closely watched.
First Piper 