Last Updated : Jan 28 2013 | 2:26 AM IST
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| The latest quarterly data on balance of payments released by the RBI last week, reveals a new development: After six consecutive quarters of surpluses, India recorded a current account deficit of $ 1.2 billion in the quarter April-June 2003.
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| Trade deficits are generally considered bad news in India. We have a long history of distress owing to large trade deficits.
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Many people have vivid memories of
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First Published: Oct 15 2003 | 12:00 AM IST
