India’s CAD widens to 2.5% of GDP in 3rd Quarter

Current account deficit of India has widened  to 2.5% of GDP in the 3rd quarter of the current fiscal year primarily on account of a higher trade deficit though the foreign exchange reserves which continued to soar. Current account deficit has been widened merely 0.4% from 2.1%, a year ago. The CAD had moderated to USD 19.1 billion or 2.9 per cent of GDP in the preceding quarter.