statesman news service
NEW DELHI, 27 JUNE: Corporate India today expressed concern over India’s current account deficit (CAD) reaching 4.8 per cent of GDP and said CAD above the comfort level of 2.5 per cent is always a matter of deep concern.
“India&’s current account deficit has been well above the comfort level for more than a year and poses a serious risk on multiple fronts,” industry body CII said in a statement here.
Ficci said the CAD of 4.8 per cent for the 2012-13 fiscal, though high has not crossed the widely anticipated five per cent mark. The deficit dropped to 3.6 per cent of GDP in Q4 from 6.7 per cent in Q3. The measures adopted by the government to curb gold imports have certainly provided some respite, it said.