(Shutterstock)India’s infrastructure sector contracted 1.5 per cent in November against a growth of 3.3 per cent a year ago. Production of coal contracted 2.5 per cent, crude oil six per cent, natural gas 6.4 per cent, steel 3.7 per cent and electricity 5.7 per cent. The contraction in CAD was primarily on account of a lower trade deficit at $38.1 billion compared with $50 billion a year ago. The trade deficit during the six month period shrank to $ 84.3 billion from $ 95.8 billion last year. The current account deficit for the second quarter printed even lower than our expectations of around $ 9 billion, led by a narrower trade deficit and higher secondary income flows.

Source: The Telegraph December 31, 2019 19:07 UTC