Budget 2025: How can Sitharaman & co help India's trade deficit?
Nirmala Sitharaman as she prepares to present the Union Budget 2025.
The trade deficit, driven by high import bills and fluctuating export growth, demands targeted interventions to ensure sustainable economic growth.
India’s trade deficit in November widened to an all-time high of $37.84 billion from $27.1 billion in, which has put some pressure on the local currency. This year, the Indian Rupee often traded at around record lows against the US dollar.
A widening trade deficit may put further pressure on India’s currency, which weakened 0.5% against the dollar in the month of October, marking its worst month since March. RBI, however, has been time and again intervening to curb the rupee's volatility.
The current account deficit (CAD) for the September quarter is likely to widen to 1.6 per cent — the most in the last seven quarters, as per a report by India Ratings and Research.
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