CAD will go down, claims Montek
21 Oct 2013 5:47 AM IST
Planning commission deputy chairman Montek Singh Ahluwalia has claimed that the current account deficit (CAD) for the year 2013-14 would be lower than the projected 3.8 per cent of GDP or 70 billion dollars. This news comes after the CAD hit all time high of 4.8 per cent of GDP, or 88.2 billion dollars, during 2012-13.
‘The bottom line on CAD is that news is very good. It will be lower than 3.8 per cent,’ Ahluwalia told reporters in New Delhi. Ahluwalia claimed, ‘India will be in a better position to neutralise the impact of the tapering of monetary stimulus by the US Fed.’ The reversal of the easy money policy by the US is expected to impact the global markets as well as the economy.
‘The bottom line on CAD is that news is very good. It will be lower than 3.8 per cent,’ Ahluwalia told reporters in New Delhi. Ahluwalia claimed, ‘India will be in a better position to neutralise the impact of the tapering of monetary stimulus by the US Fed.’ The reversal of the easy money policy by the US is expected to impact the global markets as well as the economy.
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