 "Chief Economic Adviser V Anantha Nageswaran")
With global crude oil prices on the slide, India’s current account deficit (CAD), too, will drop in the current fiscal year (2022-23, or FY23) and the next (2023-24, or FY24), with the “external situation being quite stable”, indicated Chief Economic Advisor (CEA) V Anantha Nageswaran on Thursday.
Quoting private-sector organisations and economists, the CEA said the industry expects CAD to be in the range of 2-2.4 per cent of gross domestic product (GDP) in FY23 and further down to 2 per cent in FY24.
“You might have seen that global crude oil prices have come down. The external situation for
