Business Standard

CAD increases to 2.1% of GDP in FY19; but more than halves in Q4

Overall trade performance was the prime influencer for both the contraction in CAD for the March quarter as well as a widening for the full year

current account deficit, government policies
Premium

Illustration by Ajay Mohanty

Press Trust of India Mumbai
Current account deficit (CAD) increased to $57.2 billion or 2.1 per cent of GDP in FY19 as against 1.8 per cent in the previous year, the Reserve Bank said Friday.

The CAD, which is the net of foreign exchange inflows and outflows, had stood at $48.7 billion in FY18.

For FY19, the deficit widened despite a narrowing of the same in the March quarter to 0.7 per cent of GDP or $4.6 billion, as against $27.7 billion or 2.7 per cent in the December quarter and $13 billion or 1.8 per cent in the March 2018 quarter, the central bank data showed.

Overall

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jun 28 2019 | 6:27 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com