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.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!
