Mumbai: Helped by a sharp restraint in imports, particularly
of bullion, India's current account deficit (CAD) sharply pointed to 1.7
percent of GDP, or USD 32.4 billion, in FY'14 from 4.7 percent in FY'13,
Reserve Bank said Monday.
"Contraction in the deal shortage, attached with a increase in net invisibles' receipts, resulted in a lessening of the CAD to USD 32.4 billion, or 1.7 percent of GDP, from USD 87.8 billion, or 4.7 percent of GDP in 2012-13," it said.
For the March sector, CAD, a calculate of the inflow and loss of foreign currency, stood at USD 1.2 billion, or 0.2 percent of GDP, as beside USD 18.1 billion, or 3.6 percent of GDP, in the same epoch previous fiscal, the RBI said.
"Contraction in the deal shortage, attached with a increase in net invisibles' receipts, resulted in a lessening of the CAD to USD 32.4 billion, or 1.7 percent of GDP, from USD 87.8 billion, or 4.7 percent of GDP in 2012-13," it said.
For the March sector, CAD, a calculate of the inflow and loss of foreign currency, stood at USD 1.2 billion, or 0.2 percent of GDP, as beside USD 18.1 billion, or 3.6 percent of GDP, in the same epoch previous fiscal, the RBI said.