.................For India, the latest drop in commodity prices will offer a temporary balm to an economy battered by soaring prices and low growth for the most part of the last one year. Costlier crude oil, gold and other commodities had knocked up prices of most goods. It had also widened the current account deficit (CAD) to record levels. Lower commodity prices and a narrower CAD, therefore, make the job that much easier for the Reserve Bank of India to pare interest rates and for oil companies to cut retail fuel prices.
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