2011-12 current account gap seen at 4% of GDP: Trade secy

India's current account deficit is expected to touch 4% of GDP in the 2011-12 fiscal year that ended in March, the worst in at least eight years because of a widening trade gap, Trade Secretary Rahul Khullar said on Thursday.

April 19, 2012 / 13:23 IST

India's current account deficit is expected to touch 4% of GDP in the 2011-12 fiscal year that ended in March, the worst in at least eight years because of a widening trade gap, Trade Secretary Rahul Khullar said on Thursday.

India's current account deficit (CAD), which was 2.6% of gross domestic product in the 2010-11 fiscal year, widened to 4.3% of GDP in the October-December quarter.

India's balance of payments (BoP) slipped into negative territory for the first time in three years as expected in the three months through December on shrinking dollar inflows, while the country's current account deficit widened further.

first published: Apr 19, 2012 01:12 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

Al Edge Newsletter On Saturdays

Find the best of Al News in one place, specially curated for you every weekend.
MC Tech 3 Newsletter Daily-Weekdays

Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347