Economy Update - Indias current account deficit falls to $5.2 billion in July-September quarter Indias current account gap narrowed sharply to USD 5.2 billion, or 1.2% of GDP, in the July-September quarter of 2013-14 on the back of turnaround in exports and decline in gold imports. The current account deficit (CAD), the difference between outflow and inflow of foreign exchange, was USD 21 billion, or 5% of the GDP, in the second quarter of last fiscal. Both the government and RBI are expecting the CAD to be below USD 56 billion in the current fiscal compared to the record high of USD 88.2 billion, or 4.8% of the GDP last fiscal.
Posted on: Mon, 02 Dec 2013 17:42:40 +0000
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