Trade balance: India’s current account deficit may double to 1.2% of GDP in FY26, says Union Bank report

Union Bank of India projects India's current account deficit to nearly double to 1.2% of GDP in FY26, up from 0.6% in FY25, citing evolving trade dynamics and global commodity prices. A $10 per barrel change in crude prices could alter the annual current account balance by nearly $15 billion.

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