Current account deficit widens in Q4 to 0.6% y-o-y

The country's trade deficit narrowed to $112.4 billion in 2016-17

India’s current account deficit (CAD) in the fourth quarter (Q4) widened to $3.4 billion, or 0.6 per cent of gross domestic product (GDP), against $0.3 billion (0.1 per cent of GDP) in Q4 of 2015-16, owing to a widening trade deficit. However, the CAD was substantially less than $8 billion (1.4 per cent of GDP) in the third quarter ended December 2016, data released by the Reserve Bank of India showed. 

Overall, on a cumulative basis, the CAD narrowed to 0.7 per cent of GDP in 2016-17 from 1.1 per cent in 2015-16, on the back of the contraction in