Last Updated: 5/21/2025 11:39:00 PM
India’s current account deficit (CAD) is likely to be around 2% of GDP in the coming few years due to slackening of gold imports, among other factors, Prime Minister’s Economic Advisory Council Chairman C Rangarajan said on Monday. “With inflation showing signs of decline and gold prices also not rising, the attraction of gold as an asset is coming down, And, as we go ahead , we should find the demand for gold falling. There are also other factors contributing to improvement in exports. “Therefore, I expect the current account deficit to remain around 2% of GDP over the year’s” Rangarajan told reporters here on the sidelines of a programme organised by Centre for Economic and Social Studies. Finance Minister P Chidambaram recently said the CAD was brought down significantly to $ 32 billion in 2013-14 against $88 billion during 2012-13 and fiscal deficit contained within the target in the last fiscal. The CAD in 2012-13 was at 4.7% of GDP and in 2013-14 it will be only 1.7% the finance minister had said. Source : ET
