Breaking News : Current account deficit widens, but provides glimpse of hope
- 5 years ago
The current account deficit (CAD) for the quarter ended June widened to $21.8 billion, which was marginally better than street expectations, but experts said the figure could narrow substantially in the subsequent quarters on the back of gold import curbs. The curbs would provide relief to the domestic currency which has depreciated 15.4 per cent against the US dollar in the current financial year.
According to data released by the Reserve Bank of India (RBI), the current account deficit rose to $21.8 billion or 4.9 per cent of GDP for April-June 2013 due to a rise in imports (especially of gold) and shrinking exports. The CAD for April-June 2012-13 was $16.9 billion, 4 per cent of GDP.
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According to data released by the Reserve Bank of India (RBI), the current account deficit rose to $21.8 billion or 4.9 per cent of GDP for April-June 2013 due to a rise in imports (especially of gold) and shrinking exports. The CAD for April-June 2012-13 was $16.9 billion, 4 per cent of GDP.
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