Govt steps in to shore up rupee, curb current account deficit

In the wake of widening account deficit and to check the fall of rupee, the government has announced a five-point plan, which is likely to have a positive impact to the tune of $8-10 billion. The government said that the current economic woes may not be a short-term occurrence and is due to the rising interest rates in the US, high crude oil prices and the US-China trade war.

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