India’s Current Account Deficit Pegged at 3-3.2% of GDP in FY23

India’s Current Account Deficit Pegged at 3-3.2% of GDP in FY23

• Robust domestic economic activity and an uptick in oil import bills, India’s current account deficit is expected to be 3-3.2 per cent of gross domestic product (GDP) for FY23, according to Chief Economic Advisor (CEA) V AnanthaNageswaran.
• India’s current account balance recorded a deficit of 1.2 per cent of GDP in 2021-22, against a surplus of 0.9 per cent in 2020-21.
• The Reserve Bank of India expects CAD to have widened modestly in the first half (April-September 2022) but shrink in the second half (October 2022-March 2023). Overall, CAD is expected to be under 3 per cent of GDP for FY23.

November Weekly Current Affairs (Awards) Bitbank: Who has been inducted into the ICC Hall of Fame 2022?

                         >> Download Current Affairs PDFs Here

                              Download Sakshi Education Mobile APP

Published date : 26 Nov 2022 05:19PM