..............According to the newly appointed Deputy Governor of RBI Urjit Patel, monetary policy and fiscal policy both impact aggregate demand and therefore both have implications on the current account deficit. The CAD has widened primarily due to worsening of trade deficit. “In a slowing economic growth high trade deficit is a matter of concern and shows some imbalance. So partly this could be that lot of domestic production is getting substituted by imports,” said Deepak Mohanty, Executive Director, RBI............
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