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India’s Current Account Deficit Expected to Rise

The current account deficit, which hit a record high in the last fiscal year, is expected to rise in the June quarter from the previous three-month period before easing due to sharp fall in gold imports and improving exports.

Five economists predicted the June quarter current account deficit (CAD) would rise to $23-25 billion, or 4.8-5.4 percent of gross domestic production (GDP), from $18.1 billion, or 3.6 percent, in the March quarter.

The gap typically widens in the June quarter from the previous quarter due to seasonal factors including lower exports. In the June quarter last year, the current account deficit was $17.1 billion.

Reuters [1]

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